Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jul. 02, 2023

Schedule of Changes in AOCI by Component

The changes in accumulated other comprehensive income (loss) ("AOCI") by component, net of tax, for the second quarter and six months ended July 2, 2023 and July 3, 2022 are as follows (in millions):


	Foreign Currency Translation		Cash Flow Hedges and Other		Pension and Postretirement Benefits		Total
Balance at April 2, 2023	$	(476.6)	$	3.8	$	(254.0)	$	(726.8)
Other comprehensive income (loss) before reclassifications	12.3		3.0		—		15.3
Amounts reclassified from AOCI	—		(1.4)		0.9		(0.5)
Net other comprehensive income (loss)	12.3		1.6		0.9		14.8

Balance at July 2, 2023	$	(464.3)	$	5.4	$	(253.1)	$	(712.0)

	Foreign Currency Translation		Cash Flow Hedges and Other		Pension and Postretirement Benefits		Total
Balance at April 3, 2022	$	(161.6)	$	3.1	$	(293.4)	$	(451.9)
Other comprehensive income (loss) before reclassifications	(154.8)		9.4		—		(145.4)
Amounts reclassified from AOCI	—		(11.7)		4.0		(7.7)
Net other comprehensive income (loss)	(154.8)		(2.3)		4.0		(153.1)

Balance at July 3, 2022	$	(316.4)	$	0.8	$	(289.4)	$	(605.0)


	Foreign Currency Translation		Cash Flow Hedges and Other		Pension and Postretirement Benefits		Total
Balance as of January 1, 2023	$	(472.3)	$	1.3	$	(255.5)	$	(726.5)
Other comprehensive income (loss) before reclassifications	8.0		12.8		—		20.8
Amounts reclassified from AOCI	—		(8.7)		2.4		(6.3)
Net other comprehensive income (loss)	8.0		4.1		2.4		14.5

Balance as of July 2, 2023	$	(464.3)	$	5.4	$	(253.1)	$	(712.0)

	Foreign Currency Translation		Cash Flow Hedges and Other		Pension and Postretirement Benefits		Total
Balance as of January 2, 2022	$	(129.0)	$	(3.4)	$	(297.6)	$	(430.0)
Other comprehensive income (loss) before reclassifications	(187.4)		20.7		—		(166.7)
Amounts reclassified from AOCI	—		(16.5)		8.2		(8.3)
Net other comprehensive income (loss)	(187.4)		4.2		8.2		(175.0)

Balance as of July 3, 2022	$	(316.4)	$	0.8	$	(289.4)	$	(605.0)

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The reclassifications out of AOCI to net income for the second quarter and six months ended July 2, 2023 and July 3, 2022 are as follows (in millions):


	Amount Reclassified from AOCI for the Quarter Ended		Amount Reclassified from AOCI for the Quarter Ended		Statement of Income (Loss) Presentation
	July 2, 2023		July 3, 2022
(Gain) loss on cash flow hedges:
Gain recognized in income on derivatives	$	(1.8)	$	(15.6)	See Note 13
Income tax impact	0.4		3.9		Provision for income taxes
Total	$	(1.4)	$	(11.7)

Amortization of defined benefit pension and postretirement plan items:
Amortization of prior service cost	$	(0.4)	$	(0.4)	Costs and expenses
Amortization of net actuarial loss	1.8		5.7		Costs and expenses
Total before tax	1.4		5.3
Income tax impact	(0.5)		(1.3)		Provision for income taxes
Total	$	0.9	$	4.0


	Amount Reclassified from AOCI for the Six Months Ended		Amount Reclassified from AOCI for the Six Months Ended		Statement of Income (Loss) Presentation
	July 2, 2023		July 3, 2022
(Gain) loss on cash flow hedges:
Gain recognized in income on derivatives	$	(11.6)	$	(22.0)	See Note 13
Income tax impact	2.9		5.5		Provision for income taxes
Total	$	(8.7)	$	(16.5)

Amortization of defined benefit pension and postretirement plan items:
Amortization of prior service cost	(0.9)		(0.8)		Costs and expenses
Amortization of net actuarial loss	4.3		11.6		Costs and expenses
Total before tax	3.4		10.8
Income tax impact	$	(1.0)	$	(2.6)	Provision for income taxes
Total	$	2.4	$	8.2