10-K FY 2022 FINAL MOOG Inc - Flipbook - Page 78
Table of Contents
Note 20 - Accumulated Other Comprehensive Income (Loss)
The changes in AOCIL, net of tax, by component are as follows:
Accumulated
foreign
Accumulated
Accumulated
currency
retirement
gain (loss) on
translation
liability
derivatives
$
(102,994) $
(183,653) $
1,194 $
12,559
21,958
(1,277)
AOCIL at October 3, 2020
OCI before reclassifications
Amounts reclassified from AOCIL
(2,554)
8,485
OCI, net of tax
AOCIL at October 2, 2021
OCI before reclassifications
Amounts reclassified from AOCIL
OCI, net of tax
AOCIL at October 1, 2022
10,005
(92,989)
(101,906)
12,871
(89,035)
(182,024) $
30,443
(153,210)
13,845
14,134
27,979
(125,231) $
$
(1,278)
Total
(285,453)
33,240
4,653
(2,555)
(1,361)
(4,031)
1,605
(2,426)
(3,787) $
37,893
(247,560)
(92,092)
28,610
(63,482)
(311,042)
Net gains and losses on net investment hedges are recorded in Accumulated foreign currency translation to the
extent that the instruments are effective in hedging the designated risk.
The amounts reclassified from AOCIL into earnings are as follows:
Statements of Earnings location
2022
2021
Retirement liability:
Prior service cost
$
58
$
45
Actuarial losses
18,189
Curtailment gain
—
(5,830)
280
(44)
Settlement (gain) loss
18,776
Reclassification from AOCIL into earnings
18,527
12,947
Tax effect
(4,393)
(4,462)
Net reclassification from AOCIL into earnings
$
14,134
$
996
$
8,485
Derivatives:
Foreign currency contracts
Sales
Foreign currency contracts
Cost of sales
$
Reclassification from AOCIL into earnings
(130)
1,044
(1,535)
2,040
(1,665)
Tax effect
(435)
Net reclassification from AOCIL into earnings
$
1,605
387
$
(1,278)
Reclassification from AOCIL into earnings for the Retirement liability are included in the computation of non-service
pension expense, which is included in Other on the Consolidated Statements of Earnings.
The effective portion of amounts deferred in AOCIL are as follows:
2022
Retirement liability:
Net actuarial gain during period
Tax effect
Net deferral in AOCIL of retirement liability
Derivatives:
Foreign currency contracts
Net loss
Tax effect
Net deferral in AOCIL of derivatives
$
$
$
$
78
2021
15,521
(1,676)
13,845
$
(5,190)
(5,190)
1,159
(4,031)
$
$
$
26,157
(4,199)
21,958
(1,668)
(1,668)
391
(1,277)