Stockholders Equity and Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Apr. 01, 2023

Stockholders' Equity and Accumulated Other Comprehensive Loss

Schedule of components of accumulated other comprehensive loss, net of related taxes

	Cumulative
	Foreign			Cumulative
	Currency			Unrecognized
	Translation			Pension
(Millions of dollars)	Adjustment			Cost			Total
Balance December 31, 2021	$	(368)		$	(64)		$	(432)
Other comprehensive loss before reclassifications		(10)			(1)			(11)
Amounts reclassified from AOCL to net earnings		9	(b)		1	(a)		10
Other comprehensive loss, net of tax		(1)			—			(1)
Balance April 2, 2022		(369)			(64)			(433)
Balance December 31, 2022	$	(401)		$	(21)		$	(422)
Other comprehensive income before reclassifications		12			1			13
Amounts reclassified from AOCL to net earnings		—			1	(a)		1
Other comprehensive income, net of tax		12			2			14
Balance April 1, 2023	$	(389)		$	(19)		$	(408)

(a) This reclassification adjustment primarily represents the amortization of actuarial losses (gains) that were included in net periodic pension cost.

(b) This reclassification adjustment reflects the recognition of a currency translation adjustment upon the disposition of a CT&M business in Brazil whose functional currency was the Brazilian real.