Stockholders' Equity

6 Months Ended

Jun. 27, 2020

Accumulated other comprehensive income (loss)

The changes in accumulated other comprehensive income (loss) by component, for the six months ended June 27, 2020 are as follows:


	Foreign currency translation adjustments		Pensions, net of tax	Total
Balance as of December 31, 2019	$	(753,108)	(12,716)	(765,824)
Current period other comprehensive income (loss)	(201,046)		94	(200,952)

Balance as of June 27, 2020	$	(954,154)	(12,622)	(966,776)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended June 27, 2020 and June 29, 2019 (in thousands).


	Total Stockholders’ Equity
	Common Stock					Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)	Treasury Stock						Noncontrolling Interest	Total Stockholders' Equity
	Shares	Amount													Shares				Amount















March 28, 2020	78,531	$	785	$	1,870,003	$	7,274,085	$	(1,087,852)	(7,346)	$	(215,653)	$	6,275	$	7,847,643
Shares issued under employee and director stock plans	10	—		(15)		—		—		—	5		—		(10)
Stock-based compensation expense	—	—		4,635		—		—		—	—		—		4,635

Repurchases of common stock	—	—		—		—		—		—	—		—		—


Noncontrolling earnings (loss)	—	—		—		—		—		—	—		(331)		(331)
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		108		108


Currency translation adjustment	—	—		—		—		121,083		—	—		—		121,083
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		(7)		—	—		—		(7)
CECL adoption	—	—		—		—		—		—	—		—		—
Net loss	—	—		—		(48,257)		—		—	—		—		(48,257)
June 27, 2020	78,541	$	785	$	1,874,623	$	7,225,828	$	(966,776)	(7,346)	$	(215,648)	$	6,052	$	7,924,864


	Total Stockholders’ Equity
	Common Stock					Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)	Treasury Stock						Noncontrolling Interest	Total Stockholders' Equity
	Shares	Amount													Shares				Amount















March 30, 2019	79,771	$	798	$	1,853,484	$	6,709,782	$	(777,547)	(7,349)	$	(215,716)	$	6,244	$	7,577,045
Shares issued under employee and director stock plans	7	—		(24)		—		—		1	4		—		(20)
Stock-based compensation expense	—	—		5,788		—		—		—	—		—		5,788

Repurchases of common stock	(66)	(1)		—		(8,962)		—		—	—		—		(8,963)


Noncontrolling earnings	—	—		—		—		—		—	—		214		214
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		60		60


Currency translation adjustment	—	—		—		—		45,067		—	—		—		45,067
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		(41)		—	—		—		(41)
Net income	—	—		—		202,441		—		—	—		—		202,441
June 29, 2019	79,712	$	797	$	1,859,248	$	6,903,261	$	(732,521)	(7,348)	$	(215,712)	$	6,518	$	7,821,591

The following tables reflect the changes in stockholders’ equity for the six months ended June 27, 2020 and June 29, 2019 (in thousands).


	Total Stockholders’ Equity
	Common Stock					Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)	Treasury Stock						Noncontrolling Interest	Total Stockholders' Equity
	Shares	Amount													Shares				Amount

January 1, 2020	78,980	$	790	$	1,868,250	$	7,232,337	$	(765,824)	(7,348)	$	(215,712)	$	6,607	$	8,126,448
Shares issued under employee and director stock plans	140	1		(3,303)		—		—		2	64		—		(3,238)
Stock-based compensation expense	—	—		9,676		—		—		—	—		—		9,676

Repurchases of common stock	(579)	(6)		—		(68,635)		—		—	—		—		(68,641)


Noncontrolling earnings (loss)	—	—		—		—		—		—	—		(380)		(380)
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		(175)		(175)


Currency translation adjustment	—	—		—		—		(201,046)		—	—		—		(201,046)
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		94		—	—		—		94
CECL adoption	—	—		—		(131)		—		—	—		—		(131)
Net income	—	—		—		62,257		—		—	—		—		62,257
June 27, 2020	78,541	$	785	$	1,874,623	$	7,225,828	$	(966,776)	(7,346)	$	(215,648)	$	6,052	$	7,924,864


	Total Stockholders’ Equity
	Common Stock					Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)	Treasury Stock						Noncontrolling Interest	Total Stockholders' Equity
	Shares	Amount													Shares				Amount

January 1, 2019	79,656	$	797	$	1,852,173	$	6,588,197	$	(791,608)	(7,349)	$	(215,745)	$	6,245	$	7,440,059
Shares issued under employee and director stock plans	122	1		(4,502)		—		—		1	33		—		(4,468)
Stock-based compensation expense	—	—		11,577		—		—		—	—		—		11,577

Repurchases of common stock	(66)	(1)		—		(8,962)		—		—	—		—		(8,963)


Noncontrolling earnings	—	—		—		—		—		—	—		204		204
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		69		69


Currency translation adjustment	—	—				—		59,020		—	—		—		59,020
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		67		—	—		—		67
Net income	—	—		—		324,026		—		—	—		—		324,026
June 29, 2019	79,712	$	797	$	1,859,248	$	6,903,261	$	(732,521)	(7,348)	$	(215,712)	$	6,518	$	7,821,591