Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss (“AOCI”) are as follows:

	Cumulative Translation Adjustment(1)		Cash Flow Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at July 1, 2023	$	(236,672)	$	5,605	$	(429,227)	$	146,119	$	(514,175)
Amounts reclassified from accumulated other comprehensive loss	—		(1,818)		4,077		136		2,395
Current-period other comprehensive income (loss) activity	(53,517)		12,069		48		(1,917)		(43,317)
Total other comprehensive income (loss)	(53,517)		10,251		4,125		(1,781)		(40,922)
Balance at September 30, 2023	$	(290,189)	$	15,856	$	(425,102)	$	144,338	$	(555,097)

	Cumulative Translation Adjustment(1)		Cash Flow Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at December 31, 2022	$	(228,803)	$	8,709	$	(437,353)	$	145,439	$	(512,008)
Amounts reclassified from accumulated other comprehensive loss	—		(7,887)		12,231		1,422		5,766
Current-period other comprehensive income (loss) activity	(61,386)		15,034		20		(2,523)		(48,855)
Total other comprehensive income (loss)	(61,386)		7,147		12,251		(1,101)		(43,089)
Balance at September 30, 2023	$	(290,189)	$	15,856	$	(425,102)	$	144,338	$	(555,097)

(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 Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at July 2, 2022	$	(228,826)	$	16,343	$	(558,153)	$	140,874	$	(629,762)
Amounts reclassified from accumulated other comprehensive loss	—		17,917		5,202		(4,109)		19,010
Current-period other comprehensive income (loss) activity	(76,756)		(14,331)		258		1,658		(89,171)
Total other comprehensive income (loss)	(76,756)		3,586		5,460		(2,451)		(70,161)
Balance at October 1, 2022	$	(305,582)	$	19,929	$	(552,693)	$	138,423	$	(699,923)

	Cumulative Translation Adjustment(1)		Cash Flow Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at January 1, 2022	$	(134,001)	$	5,244	$	(569,161)	$	146,315	$	(551,603)
Amounts reclassified from accumulated other comprehensive loss	(13,473)		45,345		16,023		(10,935)		36,960
Current-period other comprehensive income (loss) activity	(158,108)		(30,660)		445		3,043		(185,280)
Total other comprehensive income (loss)	(171,581)		14,685		16,468		(7,892)		(148,320)
Balance at October 1, 2022	$	(305,582)	$	19,929	$	(552,693)	$	138,423	$	(699,923)

(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.

Schedule of Reclassifications out of Accumulated Other Comprehensive Loss

The Company had the following reclassifications out of AOCI:

Component of AOCI	Location of Reclassification into Income	Amount of Reclassification from AOCI
		Quarters Ended				Nine Months Ended
		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Write-off of cumulative translation associated with sale of business	Income from discontinued operations, net of tax	$	—	$	—	$	—	$	13,473
Gain (loss) on forward foreign exchange contracts designated as cash flow hedges	Cost of sales	(79)		2,516		3,129		6,790
	Income tax	(137)		(730)		(1,304)		(2,008)
	Income from discontinued operations, net of tax	—		—		—		(232)
	Net of tax	(216)		1,786		1,825		4,550
Gain on interest rate contracts designated as cash flow hedges	Interest expense, net	1,897		—		3,204		—
	Income tax	—		—		—		—
	Net of tax	1,897		—		3,204		—
Gain (loss) on cross-currency swap contracts designated as cash flow hedges	Selling, general and administrative expenses	—		(18,764)		973		(47,118)
	Interest expense, net	—		(1,669)		581		(4,710)
	Income tax	—		3,474		—		8,811
	Net of tax	—		(16,959)		1,554		(43,017)
Amortization of deferred actuarial loss and prior service cost	Other expenses	(4,077)		(5,202)		(12,231)		(15,608)
	Income tax	1		1,365		(118)		4,102
Pension activity associated with sale of business	Income from discontinued operations, net of tax	—		—		—		(460)
	Net of tax	(4,076)		(3,837)		(12,349)		(11,966)
Total reclassifications		$	(2,395)	$	(19,010)	$	(5,766)	$	(36,960)