Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

The following table summarizes the changes in AOCI for the fiscal years ended December 31, 2023, and January 1, 2023:


(in millions)	Foreign Currency Translation		Cash Flow Hedges		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	(343.3)		16.4		—		(326.9)
Amounts reclassified from AOCI	—		(11.7)		42.1		30.4
Net other comprehensive income (loss)	(343.3)		4.7		42.1		(296.5)
Balance as of January 1, 2023	(472.3)		1.3		(255.5)		(726.5)
Other comprehensive income (loss) before reclassifications	79.6		14.8		—		94.4
Amounts reclassified from AOCI	—		(7.9)		5.9		(2.0)
Net other comprehensive income (loss)	79.6		6.9		5.9		92.4
Balance as of December 31, 2023	$	(392.7)	$	8.2	$	(249.6)	$	(634.1)

The reclassification out of AOCI for the fiscal years ended December 31, 2023, and January 1, 2023, are as follows:


	2023		2022
(in millions)	Amount reclassified from AOCI		Amount reclassified from AOCI		Financial Statement Presentation
Gain (loss) on cash flow hedges:
Gain (loss) recognized in income on derivatives	$	(10.6)	$	(15.7)	See Note 14
Income tax impact	2.7		4.0		Provision for income taxes
Total	$	(7.9)	$	(11.7)

Amortization of defined benefit pension and postretirement plan items:
Amortization of prior service cost	$	(1.7)	$	(1.8)	See Note 10
Amortization of net actuarial loss	10.1		22.7		See Note 10
Pension adjustments	(1.0)		45.2		See Note 10
Total before tax	7.4		66.1
Income tax impact	(1.5)		(24.0)
Net of tax	$	5.9	$	42.1