Shareholders' Equity

6 Months Ended

Jul. 02, 2022

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity

Accumulated Other Comprehensive Loss

The following table presents the changes in Accumulated other comprehensive income, excluding noncontrolling interests:

	Quarter Ended				Six Months Ended
	July 2, 2022		July 3, 2021		July 2, 2022		July 3, 2021
Foreign Currency Translation Adjustment and Other:
Other comprehensive income (loss) before reclassifications (a)	$	(218,602)	$	13,594	$	(267,302)	$	(45,954)
Amounts reclassified into income	(462)		(345)		(803)		(865)
Unrealized Gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net:
Other comprehensive income (loss) before reclassifications	15,921		1,895		17,015		8,873
Amounts reclassified into income	(1,670)		(1,672)		(3,339)		(3,344)
Unrealized Gain (Loss) on Interest Rate Swaps Designated as Cash Flow Hedges, Net:
Other comprehensive income (loss) before reclassifications	10,998		(19,620)		18,545		16,465
Amounts reclassified into income	681		260		1,339		527
Employee Benefit Plan Items, Net:
Amounts reclassified into income	89		1,148		188		982
Net change in Accumulated other comprehensive loss	$	(193,045)	$	(4,740)	$	(234,357)	$	(23,316)

(a)     Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $36,623 and $28,365 for the second quarter and first six months of 2022, and $1,360 and $(1,237) for the second quarter and first six months of 2021, respectively.

Share-Repurchase Program

The following table shows the company’s Board of Directors (the “Board”) approved share-repurchase programs as of July 2, 2022:

Month of Board Approval	Dollar Value Approved for Repurchase		Dollar Value of Shares Repurchased		Approximate Dollar Value of Shares that May Yet be Purchased Under the Program
July 2020	$	600,000	$	600,000	$	—
July 2021	600,000		600,000		—
December 2021	600,000		311,531		288,469
Total	$	1,800,000	$	1,511,531	$	288,469

In the second quarter and first six months of 2022, the company repurchased 1,930 and 3,945 shares of common stock for $224,999 and $474,999, respectively, under the program. In the second quarter and first six months of 2021, the company repurchased 2,119 and 3,563 shares of common stock for $249,999 and $399,999, respectively, under the program. As of July 2, 2022, approximately $288,469 remained available for repurchase under the program.