XML 37 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2
Comprehensive Income (Tables)
 9 Months Ended
Oct. 01, 2022
Comprehensive Income [Abstract]  
Changes in the Components in Accumulated Other Comprehensive Income (Loss) Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three and nine months ended October 1, 2022 and October 2, 2021 are as follows:
Three Months EndedNine Months Ended
(in millions)October 1,
2022		October 2,
2021		October 1,
2022		October 2,
2021
Net earnings$163.8 $143.1 $535.3 $491.8 
Other comprehensive (loss) income:  
Foreign currency cumulative translation adjustment(27.5)(9.9)(58.0)(14.2)
Net change in unamortized prior service credits — — — (0.2)
Net change in unamortized actuarial gains0.4 0.3 0.9 0.6 
Net change in unrealized derivative gains21.3 7.1 48.9 21.5 
Total other comprehensive (loss) income(5.8)(2.5)(8.2)7.7 
Comprehensive income$158.0 $140.6 $527.1 $499.5 

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended October 1, 2022:
(in millions)Foreign currency translationPrior service creditsNet actuarial lossesUnrealized investment gainsNet derivative gainsTotal
Beginning balance$(65.0)$(3.7)$(2.9)$0.2 $37.5 $(33.9)
Other comprehensive (loss) income before reclassifications (A)
(27.5)— 0.3 — 26.3 (0.9)
Amounts reclassified from Accumulated other comprehensive loss (income) (B)
— — 0.1 — (5.0)(4.9)
Net other comprehensive (loss) income(27.5)— 0.4 — 21.3 (5.8)
Ending balance$(92.5)$(3.7)$(2.5)$0.2 $58.8 $(39.7)

(A) The tax effects for the three months ended October 1, 2022 were $5.4 million for foreign currency translation and $(3.6) million for derivatives.
(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended October 1, 2022.

The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the nine months ended October 1, 2022:
(in millions)Foreign currency translationPrior service creditsNet actuarial lossesUnrealized investment gainsNet derivative gainsTotal
Beginning balance$(34.5)$(3.7)$(3.4)$0.2 $9.9 $(31.5)
Other comprehensive (loss) income before reclassifications (A)
(58.0)— 0.3 — 62.7 5.0 
Amounts reclassified from Accumulated other comprehensive loss (income) (B)
— — 0.6 — (13.8)(13.2)
Net other comprehensive (loss) income(58.0)— 0.9 — 48.9 (8.2)
Ending balance$(92.5)$(3.7)$(2.5)$0.2 $58.8 $(39.7)

(A) The tax effects for the nine months ended October 1, 2022 were $8.5 million for foreign currency translation and $(16.3) million for derivatives.
(B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the nine months ended October 1, 2022.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and nine months ended October 1, 2022 and October 2, 2021:

Three Months EndedNine Months Ended
Details about Accumulated other comprehensive income (loss) components (in millions)October 1,
2022		October 2,
2021		October 1,
2022		October 2,
2021		Affected line item in the statement where net income is presented
Amortization of defined benefit items:
Prior service credits$— $— $— $0.2 Other expense, net
Net actuarial losses(0.4)(0.2)(0.9)(0.6)Other expense, net
(0.4)(0.2)(0.9)(0.4)Earnings before income taxes
0.3 — 0.3 0.1 Income tax provision
$(0.1)$(0.2)$(0.6)$(0.3)Net earnings from continuing operations
Amount of (loss) gain reclassified into earnings on derivative contracts:
Interest-rate contracts$(0.1)$(0.2)$(0.2)$(0.5)Interest expense
Foreign exchange contracts7.7 (1.7)15.7 (8.8)Cost of sales
Commodity contracts(0.8)1.6 3.1 3.1 Cost of sales
6.8 (0.3)18.6 (6.2)Earnings before income taxes
(1.8)0.1 (4.8)1.7 Income tax provision
$5.0 $(0.2)$13.8 $(4.5)Net earnings from continuing operations