Stockholders' Equity

9 Months Ended

Sep. 26, 2020

Equity [Abstract]

Stockholders' Equity

Accumulated other comprehensive income (loss)

The changes in accumulated other comprehensive income (loss) by component for the nine months ended September 26, 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)	(169,763)		164	(169,599)
Balance as of September 26, 2020	$	(922,871)	(12,552)	(935,423)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended September 26, 2020 and September 28, 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
June 27, 2020	78,541	$	785	$	1,874,623	$	7,225,828	$	(966,776)	(7,346)	$	(215,648)	$	6,052	$	7,924,864
Shares issued under employee and director stock plans	4	—		492		—		—		—	—		—		492
Stock-based compensation expense	—	—		4,883		—		—		—	—		—		4,883
Repurchases of common stock	—	—		—		—		—		—	—		—		—
Noncontrolling earnings (loss)	—	—		—		—		—		—	—		336		336
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		24		24
Currency translation adjustment	—	—		—		—		31,283		—	—		—		31,283
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		70		—	—		—		70
CECL adoption	—	—		—		—		—		—	—		—		—
Net income	—	—		—		205,117		—		—	—		—		205,117
September 26, 2020	78,545	$	785	$	1,879,998	$	7,430,945	$	(935,423)	(7,346)	$	(215,648)	$	6,412	$	8,167,069

	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
June 29, 2019	79,712	$	797	$	1,859,248	$	6,903,261	$	(732,521)	(7,348)	$	(215,712)	$	6,518	$	7,821,591
Shares issued under employee and director stock plans	—	—		—		—		—		—	—		—		—
Stock-based compensation expense	—	—		5,651		—		—		—	—		—		5,651
Repurchases of common stock	(519)	(5)		—		(67,703)		—		—	—		—		(67,708)
Noncontrolling earnings	—	—		—		—		—		—	—		150		150
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		(157)		(157)
Currency translation adjustment	—	—		—		—		(149,982)		—	—		—		(149,982)
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		216		—	—		—		216
Net income	—	—		—		155,518		—		—	—		—		155,518
September 28, 2019	79,193	$	792	$	1,864,899	$	6,991,076	$	(882,287)	(7,348)	$	(215,712)	$	6,511	$	7,765,279

The following tables reflect the changes in stockholders’ equity for the nine months ended September 26, 2020 and September 28, 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	144	1		(2,811)		—		—		2	64		—		(2,746)
Stock-based compensation expense	—	—		14,559		—		—		—	—		—		14,559
Repurchases of common stock	(579)	(6)		—		(68,635)		—		—	—		—		(68,641)
Noncontrolling earnings (loss)	—	—		—		—		—		—	—		(44)		(44)
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		(151)		(151)
Currency translation adjustment	—	—		—		—		(169,763)		—	—		—		(169,763)
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		164		—	—		—		164
CECL adoption	—	—		—		(131)		—		—	—		—		(131)
Net income	—	—		—		267,374		—		—	—		—		267,374
September 26, 2020	78,545	$	785	$	1,879,998	$	7,430,945	$	(935,423)	(7,346)	$	(215,648)	$	6,412	$	8,167,069

	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	—	—		17,228		—		—		—	—		—		17,228
Repurchases of common stock	(585)	(6)		—		(76,665)		—		—	—		—		(76,671)
Noncontrolling earnings	—	—		—		—		—		—	—		354		354
Currency translation adjustment on non-controlling interests	—	—		—		—		—		—	—		(88)		(88)
Currency translation adjustment	—	—				—		(90,962)		—	—		—		(90,962)
Prior pension and post-retirement benefit service cost and actuarial gain (loss)	—	—		—		—		283		—	—		—		283
Net income	—	—		—		479,544		—		—	—		—		479,544
September 28, 2019	79,193	$	792	$	1,864,899	$	6,991,076	$	(882,287)	(7,348)	$	(215,712)	$	6,511	$	7,765,279