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Accumulated Other Comprehensive Loss
9 Months Ended
Oct. 02, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss (“AOCI”) are as follows:
Cumulative Translation Adjustment(1)
Cash Flow HedgesDefined Benefit PlansIncome TaxesAccumulated Other Comprehensive Loss
Balance at July 3, 2021$(89,252)$(8,826)$(654,048)$171,198 $(580,928)
Amounts reclassified from accumulated other comprehensive loss
— 14,905 6,179 (3,980)17,104 
Current-period other comprehensive income (loss) activity
(42,330)(5,144)274 (304)(47,504)
Total other comprehensive income (loss)(42,330)9,761 6,453 (4,284)(30,400)
Balance at October 2, 2021$(131,582)$935 $(647,595)$166,914 $(611,328)
Cumulative Translation Adjustment(1)
Cash Flow HedgesDefined Benefit PlansIncome TaxesAccumulated Other Comprehensive Loss
Balance at January 2, 2021$(52,820)$(26,538)$(668,730)$181,129 $(566,959)
Amounts reclassified from accumulated other comprehensive loss
— 24,818 19,286 (9,977)34,127 
Current-period other comprehensive income (loss) activity
(78,762)2,655 1,849 (4,238)(78,496)
Total other comprehensive income (loss)(78,762)27,473 21,135 (14,215)(44,369)
Balance at October 2, 2021$(131,582)$935 $(647,595)$166,914 $(611,328)
(1)Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges.
Cumulative Translation Adjustment(1)
Cash Flow HedgesDefined Benefit PlansIncome TaxesAccumulated Other Comprehensive Loss
Balance at June 27, 2020$(179,259)$9,641 $(619,140)$157,749 $(631,009)
Amounts reclassified from accumulated other comprehensive loss
— (7,278)5,428 657 (1,193)
Current-period other comprehensive income (loss) activity
23,678 (7,007)(234)982 17,419 
Total other comprehensive income (loss)23,678 (14,285)5,194 1,639 16,226 
Balance at September 26, 2020$(155,581)$(4,644)$(613,946)$159,388 $(614,783)
Cumulative Translation Adjustment(1)
Cash Flow HedgesDefined Benefit PlansIncome TaxesAccumulated Other Comprehensive Loss
Balance at December 28, 2019$(157,138)$4,786 $(629,360)$164,064 $(617,648)
Amounts reclassified from accumulated other comprehensive loss
— (15,452)15,717 241 506 
Current-period other comprehensive income (loss) activity
1,557 6,022 (303)(4,917)2,359 
Total other comprehensive income (loss)1,557 (9,430)15,414 (4,676)2,865 
Balance at September 26, 2020$(155,581)$(4,644)$(613,946)$159,388 $(614,783)
(1)Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note, “Financial Instruments and Risk Management” for additional disclosures about net investment hedges.
The Company had the following reclassifications out of AOCI:
Component of AOCI Location of Reclassification into IncomeAmount of Reclassification from AOCI
Quarters EndedNine Months Ended
October 2,
2021
September 26,
2020
October 2,
2021
September 26,
2020
Gain (loss) on forward foreign exchange contracts designated as cash flow hedgesCost of sales$(4,506)$5,949 $(14,161)$10,576 
Income tax1,203 (1,757)3,855 (3,002)
Loss from discontinued operations, net of tax(876)1,004 (2,398)3,722 
Net of tax(4,179)5,196 (12,704)11,296 
Gain (loss) on cross-currency swap contracts designated as cash flow hedgesSelling, general and administrative expenses(8,134)— (5,523)— 
Interest expense, net(1,187)— (2,205)— 
Income tax996 — 773 — 
Net of tax(8,325)— (6,955)— 
Amortization of deferred actuarial loss and prior service costOther expenses(6,026)(5,430)(19,814)(13,658)
Income tax1,580 1,425 4,922 3,919 
Loss from discontinued operations, net of tax(154)424 (2,063)
Net of tax(4,600)(4,003)(14,468)(11,802)
Total reclassifications$(17,104)$1,193 $(34,127)$(506)