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The following is the detail of the change in the Company's accumulated other comprehensive loss from December 31, 2016 to December 28, 2019 including the effect of significant reclassifications out of accumulated other comprehensive income (net of tax):
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Foreign Currency Translation |
Balance at December 31, 2016 |
$ |
(34,382 |
) |
Other comprehensive income before reclassifications |
8,483 |
|
Amounts reclassified from other comprehensive income¹ |
(638 |
) |
Net current period other comprehensive loss |
7,845 |
|
Balance at December 30, 2017 |
(26,537 |
) |
Other comprehensive income before reclassifications |
(11,104 |
) |
Amounts reclassified from other comprehensive income² |
51 |
|
Net current period other comprehensive income |
(11,053 |
) |
Balance at December 29, 2018 |
(37,590 |
) |
Other comprehensive loss before reclassifications |
5,533 |
|
Amounts reclassified from other comprehensive income³
|
17 |
|
Net current period other comprehensive income |
5,550 |
|
Balance at December 28, 2019 |
$ |
(32,040 |
) |
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1. |
In the year ended December 30, 2017, the Company fully liquidated its Australian subsidiary and reclassified the cumulative translation adjustment to income. The $638 gain was recorded as other income on the Consolidated Statement of Comprehensive Income (Loss).
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2. |
In the year ended December 29, 2018, the Company fully liquidated four subsidiaries within the Canada reportable segment: Hillman Group GP1, LLC, Hillman Group GP2, LLC, HGC1 Financing LP, and HGC2 Holding LP and reclassified the cumulative translation adjustment to income. The $51 loss was recorded as other income on the Consolidated Statement of Comprehensive Income (Loss).
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3.
In the year ended December 28, 2019, the Company fully liquidated its Luxembourg subsidiary which results resides within the Canada reportable segment. The $17 loss was recorded as other income on the Consolidated Statement of Comprehensive Income (Loss).
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