Other Comprehensive Income (Notes)

3 Months Ended

Apr. 03, 2021

Disclosure Other Comprehensive Income Additional Information [Abstract]

The company reports changes in equity during a period, except those resulting from investments by owners and distributions to owners, in accordance with ASC 220, "Comprehensive Income".

Changes in accumulated other comprehensive income(1) were as follows (in thousands):


	Currency Translation Adjustment		Pension Benefit Costs		Unrealized Gain/(Loss) Interest Rate Swap		Total
Balance as of January 2, 2021	$	(49,961)	$	(400,919)	$	(37,548)	$	(488,428)
Other comprehensive income before reclassification	(10,614)		(3,970)		7,389		(7,195)
Amounts reclassified from accumulated other comprehensive income	—		—		5,023		5,023
Net current-period other comprehensive income	$	(10,614)	$	(3,970)	$	12,412	$	(2,172)
Balance as of April 3, 2021	$	(60,575)	$	(404,889)	$	(25,136)	$	(490,600)

Balance as of December 28, 2019	$	(105,705)	$	(228,336)	$	(16,892)	$	(350,933)
Other comprehensive income before reclassification	(48,916)		14,808		(26,486)		(60,594)
Amounts reclassified from accumulated other comprehensive income	—		—		1,267		1,267
Net current-period other comprehensive income	$	(48,916)	$	14,808	$	(25,219)	$	(59,327)
Balance as of March 28, 2020	$	(154,621)	$	(213,528)	$	(42,111)	$	(410,260)

(1) As of April 3, 2021, pension and interest rate swap amounts are net of tax of $(90.0) million and $(8.8) million, respectively. During the three months ended April 3, 2021, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $(0.9) million and $4.3 million, respectively. As of March 28, 2020 pension and interest rate swap amounts are net of tax of $(45.5) million and $(15.3) million, respectively. During the three months ended March 28, 2020, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $3.1 million and $(9.3) million, respectively.

Components of other comprehensive income were as follows (in thousands):


	Three Months Ended
		Apr 3, 2021		Mar 28, 2020
Net earnings		$	89,263	$	73,779
Currency translation adjustment		(10,614)		(48,916)
Pension liability adjustment, net of tax		(3,970)		14,808
Unrealized gain (loss) on interest rate swaps, net of tax		12,412		(25,219)
Comprehensive income		$	87,091	$	14,452