Stockholders' Equity

9 Months Ended

Oct. 01, 2022

Equity [Abstract]

Stockholders' Equity

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component for the nine months ended October 1, 2022 are as follows:

	Foreign currency translation adjustments		Prior pension and post-retirement benefit service cost and actuarial gain (loss)	Total
Balance as of December 31, 2021	$	(959,199)	(7,753)	(966,952)
Current period other comprehensive income (loss)	(302,383)		672	(301,711)
Balance as of October 1, 2022	$	(1,261,582)	(7,081)	(1,268,663)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended October 1, 2022 and October 2, 2021 (in thousands).

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Nonredeemable Noncontrolling Interests	Total Stockholders’ Equity
	Shares	Amount				Shares	Amount
July 2, 2022	70,878	$709	$1,919,742	$7,910,657	($1,014,999)	(7,341)	($215,491)	$6,320	$8,606,938
Shares issued under employee and director stock plans	—	—	(27)	—	—	—	—	—	(27)
Stock-based compensation expense	—	—	6,179	—	—	—	—	—	6,179
Repurchases of common stock	(3)	—	—	(384)	—	—	—	—	(384)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	256	256
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(273)	(273)
Purchase of noncontrolling interest	—	—	—	—	—	—	—	1	1
Currency translation adjustment	—	—	—	—	(253,729)	—	—	—	(253,729)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	65	—	—	—	65
Net loss	—	—	—	(533,969)	—	—	—	—	(533,969)
October 1, 2022	70,875	$709	$1,925,894	$7,376,304	($1,268,663)	(7,341)	($215,491)	$6,304	$7,825,057

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Nonredeemable Noncontrolling Interests	Total Stockholders’ Equity
	Shares	Amount				Shares	Amount
July 3, 2021	76,372	$764	$1,895,612	$7,867,795	($781,506)	(7,343)	($215,547)	$6,824	$8,773,942
Shares issued under employee and director stock plans	—	—	(59)	—	—	—	—	—	(59)
Stock-based compensation expense	—	—	7,425	—	—	—	—	—	7,425
Repurchases of common stock	(1,017)	(10)	—	(208,823)	—	—	—	—	(208,833)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	206	206
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(99)	(99)
Currency translation adjustment	—	—	—	—	(91,219)	—	—	—	(91,219)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	108	—	—	—	108
Net earnings	—	—	—	270,978	—	—	—	—	270,978
October 2, 2021	75,355	$754	$1,902,978	$7,929,950	($872,617)	(7,343)	($215,547)	$6,931	$8,752,449

The following tables reflect the changes in stockholders’ equity for the nine months ended October 1, 2022 and October 2, 2021 (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
December 31, 2021	72,952	$729	$1,911,131	$7,692,064	($966,952)	(7,343)	($215,547)	$6,791	$8,428,216
Shares issued under employee and director stock plans	107	1	(3,297)	—	—	2	56	—	(3,240)
Stock-based compensation expense	—	—	17,488	—	—	—	—	—	17,488
Repurchases of common stock	(2,184)	(21)	—	(307,551)	—	—	—	—	(307,572)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	440	440
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(1)	(1)
Purchase of noncontrolling interest	—	—	572	—	—	—	—	(926)	(354)
Currency translation adjustment	—	—	—	—	(302,383)	—	—	—	(302,383)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	672	—	—	—	672
Net loss	—	—	—	(8,209)	—	—	—	—	(8,209)
October 1, 2022	70,875	$709	$1,925,894	$7,376,304	($1,268,663)	(7,341)	($215,491)	$6,304	$7,825,057

	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
December 31, 2020	77,624	$776	$1,885,142	$7,559,191	($695,145)	(7,346)	($215,648)	$6,842	$8,541,158
Shares issued under employee and director stock plans	115	1	(1,575)	—	—	3	101	—	(1,473)
Stock-based compensation expense	—	—	19,411	—	—	—	—	—	19,411
Repurchases of common stock	(2,384)	(23)	—	(473,311)	—	—	—	—	(473,334)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	378	378
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(289)	(289)
Currency translation adjustment	—	—		—	(177,788)	—	—	—	(177,788)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	316	—	—	—	316
Net earnings	—	—	—	844,070	—	—	—	—	844,070
October 2, 2021	75,355	$754	$1,902,978	$7,929,950	($872,617)	(7,343)	($215,547)	$6,931	$8,752,449