Other Comprehensive Income (Notes)

9 Months Ended

Oct. 01, 2022

Disclosure Other Comprehensive Income Additional Information [Abstract]

Other Comprehensive Income

Other 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		Unrealized Gain/(Loss) Certain Investments		Total
Balance as of January 1, 2022	$	(97,654)	$	(249,696)	$	(13,064)	$	1,330	$	(359,084)
Other comprehensive income before reclassification	(201,176)		44,127		55,958		(1,330)		(102,421)
Amounts reclassified from accumulated other comprehensive income	—		—		7,646		—		7,646
Net current-period other comprehensive income	$	(201,176)	$	44,127	$	63,604	(1,330)		$	(94,775)
Balance as of October 1, 2022	$	(298,830)	$	(205,569)	$	50,540	—		$	(453,859)
Balance as of January 2, 2021	$	(49,961)	$	(400,919)	$	(37,548)	$	—	$	(488,428)
Other comprehensive income before reclassification	(33,000)		3,052		1,480		—		(28,468)
Amounts reclassified from accumulated other comprehensive income	—		—		14,691		—		14,691
Net current-period other comprehensive income	$	(33,000)	$	3,052	$	16,171	$	—	$	(13,777)
Balance as of October 2, 2021	$	(82,961)	$	(397,867)	$	(21,377)	$	—	$	(502,205)

(1) As of October 1, 2022, pension and interest rate swap are net of tax of $(32.6) million and $17.9 million, respectively. During the nine months ended October 1, 2022, the adjustments to pension, interest rate swap, and loss on investments were net of tax of $6.9 million, $22.4 million, and $(0.4) million, respectively. As of October 2, 2021, pension and interest rate swap amounts are net of tax of $(88.4) million and $(7.5) million, respectively. During the nine months ended October 2, 2021, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $0.7 million and $5.6 million, respectively.

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

	Three Months Ended				Nine Months Ended
	Oct 1, 2022		Oct 2, 2021		Oct 1, 2022		Oct 2, 2021
Net earnings	$	104,369	$	175,966	$	303,372	$	385,814
Currency translation adjustment	(81,774)		(21,881)		(201,176)		(33,000)
Pension liability adjustment, net of tax	17,928		5,870		44,127		3,052
Unrealized gain on interest rate swaps, net of tax	24,360		3,056		63,604		16,171
Unrealized loss on certain investments, net of tax	—		—		(1,330)		—
Comprehensive income	$	64,883	$	163,011	$	208,597	$	372,037