v3.26.1
Accumulated Other Comprehensive Income (Loss) ("AOCI")
6 Months Ended
Jul. 18, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss) ("AOCI")

7. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (“AOCI”)

The company’s total comprehensive income presently consists of net income, adjustments for our derivative financial instruments accounted for as cash flow hedges, and various pension and other postretirement benefit related items.

During the twelve and twenty-eight weeks ended July 18, 2026 and July 12, 2025, reclassifications out of AOCI were as follows (amounts in thousands):

 

 

 

Amount Reclassified from AOCI

 

 

 

 

 

For the Twelve Weeks Ended

 

 

Affected Line Item in the Statement

Details about AOCI Components (Note 2)

 

July 18, 2026

 

 

July 12, 2025

 

 

Where Net Income is Presented

Derivative instruments:

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

211

 

 

$

211

 

 

Interest expense

Commodity contracts

 

 

(590

)

 

 

57

 

 

Cost of sales, Note 3

Total before tax

 

 

(379

)

 

 

268

 

 

Total before tax

Tax benefit (expense)

 

 

95

 

 

 

(67

)

 

Income tax expense

Total net of tax

 

 

(284

)

 

 

201

 

 

Net of tax

Pension and postretirement plans:

 

 

 

 

 

 

 

 

Prior-service credits

 

 

(80

)

 

 

48

 

 

Note 1

Actuarial gain

 

 

38

 

 

 

44

 

 

Note 1

Total before tax

 

 

(42

)

 

 

92

 

 

Total before tax

Tax benefit (expense)

 

 

11

 

 

 

(23

)

 

Income tax expense

Total net of tax

 

 

(31

)

 

 

69

 

 

Net of tax

Total reclassifications

 

$

(315

)

 

$

270

 

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Amount Reclassified from AOCI

 

 

 

 

 

For the Twenty-Eight Weeks Ended

 

 

Affected Line Item in the Statement

Details about AOCI Components (Note 2)

 

July 18, 2026

 

 

July 12, 2025

 

 

Where Net Income is Presented

Derivative instruments:

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

492

 

 

$

437

 

 

Interest expense

Commodity contracts

 

 

(1,024

)

 

 

482

 

 

Cost of sales, Note 3

Total before tax

 

 

(532

)

 

 

919

 

 

Total before tax

Tax benefit (expense)

 

 

133

 

 

 

(229

)

 

Income tax expense

Total net of tax

 

 

(399

)

 

 

690

 

 

Net of tax

Pension and postretirement plans:

 

 

 

 

 

 

 

 

Prior-service credits

 

 

(186

)

 

 

112

 

 

Note 1

Actuarial gains

 

 

89

 

 

 

102

 

 

Note 1

Total before tax

 

 

(97

)

 

 

214

 

 

Total before tax

Tax benefit (expense)

 

 

25

 

 

 

(54

)

 

Income tax expense

Total net of tax

 

 

(72

)

 

 

160

 

 

Net of tax

Total reclassifications

 

$

(471

)

 

$

850

 

 

Net of tax

 

Note 1: These items are included in the computation of net periodic pension cost and are reported in the other components of net periodic pension and postretirement benefit plans cost (credit) line item on the Condensed Consolidated Statements of Income. See Note 19, Postretirement Plans, for additional information.

Note 2: Amounts in parentheses indicate debits to determine net income.

Note 3: Amounts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.

During the twenty-eight weeks ended July 18, 2026, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):

 

 

 

Cash Flow
Hedge Items

 

 

Defined
Benefit
Pension
Plan Items

 

 

Total

 

AOCI at January 3, 2026

 

$

3,868

 

 

$

(4,995

)

 

$

(1,127

)

Other comprehensive income before reclassifications

 

 

2,351

 

 

 

 

 

 

2,351

 

Reclassified to earnings from AOCI

 

 

399

 

 

 

72

 

 

 

471

 

AOCI at July 18, 2026

 

$

6,618

 

 

$

(4,923

)

 

$

1,695

 

 

During the twenty-eight weeks ended July 12, 2025, changes to AOCI, net of income tax, by component were as follows (amounts in thousands and parentheses denote a debit balance):

 

 

 

Cash Flow
Hedge Items

 

 

Defined
Benefit
Pension
Plan Items

 

 

Total

 

AOCI at December 28, 2024

 

$

7,087

 

 

$

(257

)

 

$

6,830

 

Other comprehensive income before reclassifications

 

 

(1,769

)

 

 

 

 

 

(1,769

)

Reclassified to earnings from AOCI

 

 

(690

)

 

 

(160

)

 

 

(850

)

AOCI at July 12, 2025

 

$

4,628

 

 

$

(417

)

 

$

4,211

 

 

Amounts reclassified out of AOCI to net income that relate to commodity contracts are presented as an adjustment to reconcile net income to net cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. The following table presents the net of tax amount reclassified from AOCI for our commodity contracts (amounts in thousands and positive value indicates credits to determine net income):

 

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 18, 2026

 

 

July 12, 2025

 

Gross (loss) gain reclassified from AOCI into net income

 

$

(1,024

)

 

$

482

 

Tax benefit (expense)

 

 

256

 

 

 

(120

)

Net of tax

 

$

(768

)

 

$

362