XML 30 R20.htm IDEA: XBRL DOCUMENT v3.23.3
Accumulated Other Comprehensive Income (Loss) (Notes)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Accumulated other comprehensive income (loss) represents net earnings and any revenue, expenses, gains and losses that, under U.S. GAAP, are excluded from net earnings and recognized directly as a component of stockholders’ equity.
The change in accumulated other comprehensive income (loss) during the quarters ended September 30, 2023 and October 1, 2022 is as follows:
(In millions)Foreign
currency
translation		DerivativesPensionTotal
Balance at July 2, 2022$(115.9)$9.8 $(28.7)$(134.8)
Other comprehensive income (loss) before reclassifications (1)
(40.9)17.4 — (23.5)
Amounts reclassified from accumulated other comprehensive income (loss)— (4.7)
(2)
2.9 
(3)
(1.8)
Income tax expense (benefit)— 1.1 (0.7)0.4 
Net reclassifications— (3.6)2.2 (1.4)
Net current-period other comprehensive income (loss) (1)
(40.9)13.8 2.2 (24.9)
Balance at October 1, 2022$(156.8)$23.6 $(26.5)$(159.7)
Balance at July 1, 2023$(125.0)$(8.5)$(2.0)$(135.5)
Other comprehensive income (loss) before reclassifications (1)
(13.1)8.9 — (4.2)
Amounts reclassified from accumulated other comprehensive income (loss)— (6.1)
(2)
(0.1)
(3)
(6.2)
Income tax expense (benefit)— 1.4 — 1.4 
Net reclassifications— (4.7)(0.1)(4.8)
Net current-period other comprehensive income (loss) (1)
(13.1)4.2 (0.1)(9.0)
Balance at September 30, 2023$(138.1)$(4.3)$(2.1)$(144.5)
(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.
(2)Amounts related to foreign currency derivatives deemed to be highly effective are included in cost of goods sold. Amounts related to foreign currency derivatives that are no longer deemed to be highly effective are included in other income. Amounts related to the interest rate swap are included in interest expense.
(3)Amounts reclassified are included in the computation of net pension expense.
The change in accumulated other comprehensive income (loss) during the year-to-date periods ended September 30, 2023 and October 1, 2022 is as follows:
(In millions)Foreign
currency
translation		DerivativesPensionTotal
Balance at January 1, 2022$(56.8)$(8.9)$(33.2)$(98.9)
Other comprehensive income (loss) before reclassifications (1)
(100.0)39.1 — (60.9)
Amounts reclassified from accumulated other comprehensive income (loss)— (8.7)
(2)
8.5 
(3)
(0.2)
Income tax expense (benefit)— 2.1 (1.8)0.3 
Net reclassifications— (6.6)6.7 0.1 
Net current-period other comprehensive income (loss) (1)
(100.0)32.5 6.7 (60.8)
Balance at October 1, 2022$(156.8)$23.6 $(26.5)$(159.7)
Balance at December 31, 2022$(133.1)$1.9 $(1.7)$(132.9)
Other comprehensive income (loss) before reclassifications (1)
(9.2)6.0 — (3.2)
Amounts reclassified from accumulated other comprehensive income (loss)4.2 (16.2)
(2)
(0.5)
(3)
(12.5)
Income tax expense (benefit)— 4.0 0.1 4.1 
Net reclassifications4.2 (12.2)(0.4)(8.4)
Net current-period other comprehensive income (loss) (1)
(5.0)(6.2)(0.4)(11.6)
Balance at September 30, 2023$(138.1)$(4.3)$(2.1)$(144.5)
(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.
(2)Amounts related to foreign currency derivatives deemed to be highly effective are included in cost of goods sold. Amounts related to foreign currency derivatives that are no longer deemed to be highly effective are included in other income. Amounts related to the interest rate swap are included in interest expense.
(3)Amounts reclassified are included in the computation of net pension expense.