Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 30, 2023

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

The change in accumulated other comprehensive income (loss) during fiscal years 2023 and 2022 is as follows:


(In millions)	Foreign currency translation		Derivatives			Pension			Total
Balance at January 1, 2022	$	(56.8)	$	(8.9)		$	(33.2)		$	(98.9)
Other comprehensive income (loss) before reclassifications (1)	(76.3)		25.4			22.6			(28.3)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(19.3)		(2)	11.3		(3)	(8.0)
Income tax (expense) benefit	—		4.7			(2.4)			2.3
Net reclassifications	—		(14.6)			8.9			(5.7)
Net current-period other comprehensive income (loss) (1)	(76.3)		10.8			31.5			(34.0)



Balance at December 31, 2022	$	(133.1)	$	1.9		$	(1.7)		$	(132.9)
Other comprehensive income (loss) before reclassifications (1)	12.6		(4.8)			(6.6)			1.2
Amounts reclassified from accumulated other comprehensive income (loss)	4.2		(18.8)		(2)	(0.7)		(3)	(15.3)
Income tax benefit	—		4.6			0.2			4.8
Net reclassifications	4.2		(14.2)			(0.5)			(10.5)
Net current-period other comprehensive income (loss) (1)	16.8		(19.0)			(7.1)			(9.3)

Balance at December 30, 2023	$	(116.3)	$	(17.1)		$	(8.8)		$	(142.2)

(1)Other comprehensive income (loss) is reported net of taxes and noncontrolling interest.

(2)Amounts related to foreign currency derivatives used to manage the volatility associated with inventory purchases in various currencies and 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 interest rate swaps are included in interest expense.

(3)Amounts reclassified are included in the computation of net pension expense.