Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 27, 2020

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss were as follows (in thousands):

	Three months ended September 27, 2020
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(53,825)	$	(40,740)	$	(457,633)	$	(552,198)
Other comprehensive income, before reclassifications	13,331		55,732		—		69,063
Income tax expense	(594)		(12,299)		—		(12,893)
	12,737		43,433		—		56,170
Reclassifications:
Net gains on derivative financial instruments	—		(58,585)		—		(58,585)
Prior service credits(a)	—		—		(867)		(867)
Actuarial losses(a)	—		—		16,495		16,495
Reclassifications before tax	—		(58,585)		15,628		(42,957)
Income tax benefit (expense)	—		13,051		(3,669)		9,382
	—		(45,534)		11,959		(33,575)
Other comprehensive income (loss)	12,737		(2,101)		11,959		22,595
Balance, end of period	$	(41,088)	$	(42,841)	$	(445,674)	$	(529,603)

	Three months ended September 29, 2019
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(38,007)	$	(10,579)	$	(566,375)	$	(614,961)
Other comprehensive (loss) income, before reclassifications	(15,451)		12,412		—		(3,039)
Income tax benefit (expense)	130		(2,923)		—		(2,793)
	(15,321)		9,489		—		(5,832)
Reclassifications:
Net gains on derivative financial instruments	—		(4,211)		—		(4,211)
Prior service credits(a)	—		—		(1,078)		(1,078)
Actuarial losses(a)	—		—		11,197		11,197
Reclassifications before tax	—		(4,211)		10,119		5,908
Income tax benefit (expense)	—		1,006		(2,375)		(1,369)
	—		(3,205)		7,744		4,539
Other comprehensive (loss) income	(15,321)		6,284		7,744		(1,293)
Balance, end of period	$	(53,328)	$	(4,295)	$	(558,631)	$	(616,254)

	Nine months ended September 27, 2020
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(40,813)	$	(14,586)	$	(481,550)	$	(536,949)
Other comprehensive (loss) income, before reclassifications	(434)		47,889		—		47,455
Income tax benefit (expense)	159		(10,718)		—		(10,559)
	(275)		37,171		—		36,896
Reclassifications:
Net gains on derivative financial instruments	—		(84,295)		—		(84,295)
Prior service credits(a)	—		—		(2,601)		(2,601)
Actuarial losses(a)	—		—		49,485		49,485
Reclassifications before tax	—		(84,295)		46,884		(37,411)
Income tax benefit (expense)	—		18,869		(11,008)		7,861
	—		(65,426)		35,876		(29,550)
Other comprehensive (loss) income	(275)		(28,255)		35,876		7,346
Balance, end of period	$	(41,088)	$	(42,841)	$	(445,674)	$	(529,603)

	Nine months ended September 29, 2019
	Foreign currency translation adjustments		Derivative financial instruments		Pension and postretirement benefit plans		Total
Balance, beginning of period	$	(49,608)	$	1,785	$	(581,861)	$	(629,684)
Other comprehensive (loss) income, before reclassifications	(3,693)		4,798		—		1,105
Income tax expense	(27)		(1,247)		—		(1,274)
	(3,720)		3,551		—		(169)
Reclassifications:
Net gains on derivative financial instruments	—		(12,634)		—		(12,634)
Prior service credits(a)	—		—		(3,234)		(3,234)
Actuarial losses(a)	—		—		33,591		33,591
Reclassifications before tax	—		(12,634)		30,357		17,723
Income tax benefit (expense)	—		3,003		(7,127)		(4,124)
	—		(9,631)		23,230		13,599
Other comprehensive (loss) income	(3,720)		(6,080)		23,230		13,430
Balance, end of period	$	(53,328)	$	(4,295)	$	(558,631)	$	(616,254)

(a)Amounts reclassified are included in the computation of net periodic benefit cost, discussed further in Note 16