| Other Comprehensive Income/(Loss) |
Other Comprehensive Income/(Loss) The following table summarizes the allocation of total other comprehensive income/(loss) between H. J. Heinz Company and the noncontrolling interest: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Successor |
| Predecessor |
| February 8 - December 29, 2013 |
| April 29 - June 7, 2013 |
| April 28, 2013
FY 2013 |
| H. J. Heinz
Company |
| Noncontrolling
Interest |
| Total |
| H. J. Heinz
Company |
| Noncontrolling
Interest |
| Total |
| H. J. Heinz
Company |
| Noncontrolling
Interest |
| Total |
| (In thousands) | Net (loss)/income | $ | (77,021 | ) | | $ | 5,303 |
| | $ | (71,718 | ) |
| $ | (195,571 | ) | | $ | 2,874 |
| | $ | (192,697 | ) |
| $ | 1,012,903 |
| | $ | 14,430 |
| | $ | 1,027,333 |
| Other comprehensive income/(loss), net of tax: | | | | | |
| | | | | |
| | | | | | Foreign currency translation adjustments | 140,242 |
| | (11,301 | ) | | 128,941 |
|
| (93,780 | ) | | (4,083 | ) | | (97,863 | ) |
| (213,259 | ) | | (15,721 | ) | | (228,980 | ) | Net deferred (losses) on net investment hedges from periodic revaluations | (117,694 | ) | | — |
| | (117,694 | ) |
| — |
| | — |
| | — |
|
| — |
| | — |
| | — |
| Net pension and post-retirement benefit (losses)/gains | 102,464 |
| | (12 | ) | | 102,452 |
|
| — |
| | — |
| | — |
|
| (189,294 | ) | | (8 | ) | | (189,302 | ) | Reclassification of net pension and post-retirement benefit losses/(gains) to net income | — |
| | — |
| | — |
|
| 7,291 |
| | (25 | ) | | 7,266 |
|
| 54,833 |
| | — |
| | 54,833 |
| Net deferred (losses)/gains on other derivatives from periodic revaluations | 110,686 |
| | 510 |
| | 111,196 |
|
| (1,099 | ) | | 40 |
| | (1,059 | ) |
| (11,736 | ) | | (7 | ) | | (11,743 | ) | Net deferred losses/(gains) on derivatives reclassified to earnings | (2,688 | ) | | (55 | ) | | (2,743 | ) |
| 6,551 |
| | 1 |
| | 6,552 |
|
| 29,646 |
| | (38 | ) | | 29,608 |
| Total comprehensive income/(loss) | $ | 155,989 |
|
| $ | (5,555 | ) |
| $ | 150,434 |
|
| $ | (276,608 | ) |
| $ | (1,193 | ) |
| $ | (277,801 | ) |
| $ | 683,093 |
|
| $ | (1,344 | ) |
| $ | 681,749 |
|
The tax (expense)/benefit associated with each component of other comprehensive income/(loss) are as follows: | | | | | | | | | | | | | | Fiscal Year Ending | | H. J. Heinz Company | | Noncontrolling Interest | | Total | | (In thousands) | Predecessor | | | | | | April 27, 2011 | | | | | | Foreign currency translation adjustments | $ | (1,158 | ) | | $ | — |
| | $ | (1,158 | ) | Net pension and post-retirement benefit losses | $ | (25,670 | ) | | $ | 14 |
| | $ | (25,656 | ) | Reclassification of net pension and post-retirement benefit losses to net income | $ | 25,276 |
| | $ | — |
| | $ | 25,276 |
| Net change in fair value of cash flow hedges | $ | (10,348 | ) | | $ | 132 |
| | $ | (10,216 | ) | Net hedging gains/losses reclassified into earnings | $ | (15,149 | ) | | $ | 191 |
| | $ | (14,958 | ) | April 29, 2012 | | | | | | Foreign currency translation adjustments | $ | 180 |
| | $ | — |
| | $ | 180 |
| Net pension and post-retirement benefit losses | $ | 112,665 |
| | $ | 9 |
| | $ | 112,674 |
| Reclassification of net pension and post-retirement benefit losses to net income | $ | 25,070 |
| | $ | — |
| | $ | 25,070 |
| Net change in fair value of cash flow hedges | $ | (17,770 | ) | | $ | 9 |
| | $ | (17,761 | ) | Net hedging gains/losses reclassified into earnings | $ | (10,756 | ) | | $ | 92 |
| | $ | (10,664 | ) | April 28, 2013 | | | | | | Foreign currency translation adjustments | $ | (115 | ) | | $ | — |
| | $ | (115 | ) | Net pension and post-retirement benefit losses | $ | (75,526 | ) | | $ | — |
| | $ | (75,526 | ) | Reclassification of net pension and post-retirement benefit losses to net income | $ | 23,694 |
| | $ | — |
| | $ | 23,694 |
| Net change in fair value of cash flow hedges | $ | 17,712 |
| | $ | 2 |
| | $ | 17,714 |
| Net hedging gains/losses reclassified into earnings | $ | 25,954 |
| | $ | (13 | ) | | $ | 25,941 |
| April 29 - June 7, 2013 | | | | | | Foreign currency translation adjustments | $ | (116 | ) | | $ | — |
| | $ | (116 | ) | Reclassification of net pension and post-retirement benefit losses to net income | $ | 2,958 |
| | $ | — |
| | $ | 2,958 |
| Net change in fair value of cash flow hedges | $ | 377 |
| | $ | (13 | ) | | $ | 364 |
| Net hedging gains/losses reclassified into earnings | $ | 2,882 |
| | $ | 1 |
| | $ | 2,883 |
| Successor | | | | | | February 8 - December 29, 2013 | | | | | | Foreign currency translation adjustments | $ | (422 | ) | | $ | — |
| | $ | (422 | ) | Net change in fair value of net investment hedges | $ | 72,903 |
| | $ | — |
| | $ | 72,903 |
| Net pension and post-retirement benefit gains | $ | (39,682 | ) | | $ | — |
| | $ | (39,682 | ) | Net change in fair value of cash flow hedges | $ | (67,210 | ) | | $ | (166 | ) | | $ | (67,376 | ) | Net hedging gains/losses reclassified into earnings | $ | 1,505 |
| | $ | 18 |
| | $ | 1,523 |
|
The following table provides a summary of the changes in the carrying amount of accumulated other comprehensive (loss)/income, net of tax, by component attributable to H.J. Heinz Company: | | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | | Net pension and post retirement benefit | | Net cash flow hedges | | Total | | (In thousands) | Predecessor | | | | | | | | Balance as of April 27, 2011 | $ | 337,073 |
| | $ | (626,938 | ) | | $ | (9,699 | ) | | (299,564 | ) | Other comprehensive (loss)/income before reclassifications | (360,227 | ) | | (258,067 | ) | | 30,405 |
| | (587,889 | ) | Amounts reclassified from accumulated other comprehensive loss | — |
| | 56,813 |
| | (14,088 | ) | | 42,725 |
| Net current-period other comprehensive loss | (360,227 | ) | | (201,254 | ) | | 16,317 |
| | (545,164 | ) | Balance as of April 29, 2012 | $ | (23,154 | ) | | $ | (828,192 | ) | | $ | 6,618 |
| | $ | (844,728 | ) | Other comprehensive (loss)/income before reclassifications | (213,258 | ) | | (189,294 | ) | | (11,736 | ) | | (414,288 | ) | Amounts reclassified from accumulated other comprehensive loss | — |
| | 54,833 |
| | 29,645 |
| | 84,478 |
| Net current-period other comprehensive loss | (213,258 | ) | | (134,461 | ) | | 17,909 |
| | (329,810 | ) | Balance as of April 28, 2013 | $ | (236,412 | ) | | $ | (962,653 | ) | | $ | 24,527 |
| | $ | (1,174,538 | ) | Other comprehensive (loss)/income before reclassifications | (93,780 | ) | | — |
| | (1,099 | ) | | (94,879 | ) | Amounts reclassified from accumulated other comprehensive loss | — |
| | 7,291 |
| | 6,551 |
| | 13,842 |
| Net current-period other comprehensive loss | (93,780 | ) | | 7,291 |
| | 5,452 |
| | (81,037 | ) | Balance as of June 7, 2013 | $ | (330,192 | ) | | $ | (955,362 | ) | | $ | 29,979 |
| | $ | (1,255,575 | ) | | | | | | | | | Successor | | | | | | | | Balance as of February 8, 2013 | $ | — |
| | $ | — |
| | $ | — |
| | — |
| Other comprehensive (loss)/income before reclassifications | 140,242 |
| | 102,464 |
| | 110,686 |
| | 353,392 |
| Net change in fair value of net investment hedges | (117,694 | ) | | — |
| | — |
| | (117,694 | ) | Amounts reclassified from accumulated other comprehensive loss | — |
| | — |
| | (2,688 | ) | | (2,688 | ) | Net current-period other comprehensive loss | 22,548 |
| | 102,464 |
| | 107,998 |
| | 233,010 |
| Balance as of December 29, 2013 | $ | 22,548 |
| | $ | 102,464 |
| | $ | 107,998 |
| | $ | 233,010 |
|
The following table presents the affected earnings line for reclassifications out of accumulated other comprehensive income/(loss), net of tax, by component attributable to H.J. Heinz Company: | | | | | | | | | | | | Accumulated other comprehensive income/(loss) component | | Reclassified from accumulated other comprehensive income/(loss) to earnings | | Reclassified from accumulated other comprehensive income/(loss) to earnings | | Line affected by reclassification | (In thousands) | | | Successor | | Predecessor | | | | | February 8 - December 29, 2013 | | April 29 - June 7, 2013 | | | Gains/(losses) on cash flow hedges: | | | | | | | Foreign exchange contracts | | $ | (1,020 | ) | | $ | 990 |
| | Sales | Foreign exchange contracts | | 2,874 |
| | 1,814 |
| | Cost of products sold | Foreign exchange contracts | | 2,387 |
| | (1,859 | ) | | Other income/(expense) | Foreign exchange contracts | | (83 | ) | | — |
| | Selling, general, and administrative expenses | Foreign exchange contracts | | — |
| | 61 |
| | Interest expense | Interest rate contracts | | 35 |
| | (20 | ) | | Interest expense | Cross-currency interest rate swap contracts | | — |
| | (538 | ) | | Other expense | Cross-currency interest rate swap contracts | | — |
| | (9,821 | ) | | Interest expense | | | 4,193 |
| | (9,373 | ) | | Gain/(loss) from continuing operations before income tax | | | (1,505 | ) | | 2,822 |
| | Provision for income taxes | | | $ | 2,688 |
| | $ | (6,551 | ) | | Gain/(loss) from continuing operations | | | | | | | | Gains/(losses) on pension and post retirement benefit: | | | | | Actuarial gains/(losses) | | $ | — |
| | $ | (10,681 | ) | | (a) | Prior service credit/(cost) | | — |
| | 432 |
| | (a) | | | — |
| | (10,249 | ) | | Loss from continuing operations before income tax | | | — |
| | 2,958 |
| | Provision for income taxes | | | $ | — |
| | $ | (7,291 | ) | | Loss from continuing operations |
______________________________________ (a) As these components are included in the computation of net periodic pension and post retirement benefit costs refer to Note 14 for further details. |