| Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) (“AOCI(L)”) is composed of adjustments to the Company’s pension and postretirement medical benefit plans, unrealized gains/losses on the Company’s interest rate swap agreements and unrealized gains/losses on the Company’s available-for-sale short-term investments.
Following is a summary of AOCI(L) for the third quarter of 2026 and the third quarter of 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gains (Losses) During the Period | | Reclassification to Income | | | | (in thousands) | | July 3, 2026 | | Pre-tax Activity | | Tax Effect | | Pre-tax Activity | | Tax Effect | | October 2, 2026 | | Net pension activity: | | | | | | | | | | | | | | Actuarial gain | | $ | 4,439 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,439 | | | Prior service costs | | (155) | | | — | | | — | | | 8 | | | (2) | | | (149) | | | Net postretirement benefits activity: | | | | | | | | | | | | | | Actuarial loss | | (4,476) | | | — | | | — | | | 244 | | | (60) | | | (4,292) | | | Prior service costs | | (624) | | | — | | | — | | | — | | | — | | | (624) | | | Interest rate swaps | | 2,118 | | | 1,255 | | | (308) | | | | | | | 3,065 | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | (3,507) | | | $ | 1,255 | | | $ | (308) | | | $ | 252 | | | $ | (62) | | | $ | (2,370) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gains (Losses) During the Period | | Reclassification to Income | | | | (in thousands) | | June 27, 2025 | | Pre-tax Activity | | Tax Effect | | Pre-tax Activity | | Tax Effect | | September 26, 2025 | | Net pension activity: | | | | | | | | | | | | | | Actuarial gain | | $ | 4,406 | | | $ | — | | | $ | — | | | $ | (9) | | | $ | 3 | | | $ | 4,400 | | | Prior service costs | | (79) | | | — | | | — | | | 4 | | | (1) | | | (76) | | | Net postretirement benefits activity: | | | | | | | | | | | | | | Actuarial gain | | 2,960 | | | — | | | — | | | — | | | — | | | 2,960 | | | Prior service costs | | (624) | | | — | | | — | | | — | | | — | | | (624) | | | Unrealized (loss) gain on short-term investments | | (15) | | | 71 | | | (17) | | | 12 | | | (3) | | | 48 | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | 1,839 | | | $ | 71 | | | $ | (17) | | | $ | 7 | | | $ | (1) | | | $ | 1,899 | |
Following is a summary of AOCI(L) for the first nine months of 2026 and the first nine months of 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gains (Losses) During the Period | | Reclassification to Income | | | | (in thousands) | | December 31, 2025 | | Pre-tax Activity | | Tax Effect | | Pre-tax Activity | | Tax Effect | | October 2, 2026 | | Net pension activity: | | | | | | | | | | | | | | Actuarial gain | | $ | 4,439 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,439 | | | Prior service costs | | (167) | | | — | | | — | | | 25 | | | (7) | | | (149) | | | Net postretirement benefits activity: | | | | | | | | | | | | — | | | Actuarial loss | | (4,844) | | | — | | | — | | | 731 | | | (179) | | | (4,292) | | | Prior service costs | | (624) | | | — | | | — | | | — | | | — | | | (624) | | | Interest rate swaps | | — | | | 4,062 | | | (997) | | | — | | | — | | | 3,065 | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | (6,005) | | | $ | 4,062 | | | $ | (997) | | | $ | 756 | | | $ | (186) | | | $ | (2,370) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gains (Losses) During the Period | | Reclassification to Income | | | | (in thousands) | | December 31, 2024 | | Pre-tax Activity | | Tax Effect | | Pre-tax Activity | | Tax Effect | | September 26, 2025 | | Net pension activity: | | | | | | | | | | | | | | Actuarial gain | | $ | 4,418 | | | $ | — | | | $ | — | | | $ | (27) | | | $ | 9 | | | $ | 4,400 | | | Prior service costs | | (85) | | | — | | | — | | | 12 | | | (3) | | | (76) | | | Net postretirement benefits activity: | | | | | | | | | | | | | | Actuarial gain | | 2,960 | | | — | | | — | | | — | | | — | | | 2,960 | | | Prior service costs | | (624) | | | — | | | — | | | — | | | — | | | (624) | | | Unrealized gain on short-term investments | | 25 | | | 20 | | | (6) | | | 12 | | | (3) | | | 48 | | | Reclassification of stranded tax effects | | (4,809) | | | — | | | — | | | — | | | — | | | (4,809) | | | Total AOCI(L) | | $ | 1,885 | | | $ | 20 | | | $ | (6) | | | $ | (3) | | | $ | 3 | | | $ | 1,899 | |
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