Supplemental Equity and Comprehensive Income Information (Tables)

9 Months Ended

Sep. 26, 2020

Supplemental Equity and Comprehensive Income Information

Schedule of Consolidated Statements of Shareholders' Equity

	Three Months Ended				Nine Months Ended
(In millions)	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Common stock issued, $1 par value per share	$	124.1	$	124.1	$	124.1	$	124.1
Capital in excess of par value
Beginning balance	$	840.0	$	857.7	$	874.0	$	872.0
Issuance of shares under stock-based compensation plans(1)		10.3		7.1		(23.7)		(7.2)
Ending balance	$	850.3	$	864.8	$	850.3	$	864.8
Retained earnings
Beginning balance	$	3,100.2	$	2,762.3	$	2,979.1	$	2,864.9
Net income		150.5		144.6		364.4		141.1
Issuance of shares under stock-based compensation plans(1)		—		—		(3.3)		(13.4)
Contribution of shares to 401(k) Plan(1)		3.2		3.4		10.5		10.4
Dividends		(48.4)		(48.6)		(145.2)		(141.3)
Ending balance	$	3,205.5	$	2,861.7	$	3,205.5	$	2,861.7
Treasury stock at cost
Beginning balance	$	(2,447.2)	$	(2,311.8)	$	(2,425.1)	$	(2,223.9)
Repurchase of shares for treasury		(7.0)		(87.7)		(52.2)		(204.3)
Issuance of shares under stock-based compensation plans(1)		.9		3.5		19.5		27.6
Contribution of shares to 401(k) Plan(1)		1.9		2.1		6.4		6.7
Ending balance	$	(2,451.4)	$	(2,393.9)	$	(2,451.4)	$	(2,393.9)
Accumulated other comprehensive loss
Beginning balance	$	(403.2)	$	(369.8)	$	(348.1)	$	(682.0)
Other comprehensive income (loss), net of tax(2)		9.3		(29.5)		(45.8)		282.7
Ending balance	$	(393.9)	$	(399.3)	$	(393.9)	$	(399.3)

⁽¹⁾We fund a portion of our employee-related expenses using shares of our common stock held in treasury.  We reduce capital in excess of par value based on the grant date fair value of the awards vested and record net gains or losses associated with our use of treasury shares to retained earnings.

⁽²⁾In the first quarter of 2019, we effectively settled our remaining obligations under the ADPP. Refer to Note 5, “Pension and Other Postretirement Benefits,” to the unaudited Condensed Consolidated Financial Statements for more information.

Schedule of dividends per common share

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Dividends per common share	$	.58	$	.58	$	1.74	$	1.68

Schedule of changes in "Accumulated other comprehensive loss" (net of tax)

			Pension and
	Foreign		Other
	Currency		Postretirement		Cash Flow
(In millions)	Translation		Benefits		Hedges		Total
Balance as of December 28, 2019	$	(245.1)	$	(101.8)	$	(1.2)	$	(348.1)
Other comprehensive income (loss) before reclassifications, net of tax		(45.5)		—		(2.3)		(47.8)
Reclassifications to net income, net of tax		—		1.9		.1		2.0
Net current-period other comprehensive income (loss), net of tax		(45.5)		1.9		(2.2)		(45.8)
Balance as of September 26, 2020	$	(290.6)	$	(99.9)	$	(3.4)	$	(393.9)

			Pension and
	Foreign		Other
	Currency		Postretirement		Cash Flow
(In millions)	Translation		Benefits		Hedges		Total
Balance as of December 29, 2018	$	(247.4)	$	(434.3)	$	(.3)	$	(682.0)
Other comprehensive income (loss) before reclassifications, net of tax(1)		(17.1)		36.0		(.9)		18.0
Reclassifications to net income, net of tax(2)		—		265.4		(.7)		264.7
Net current-period other comprehensive income (loss), net of tax		(17.1)		301.4		(1.6)		282.7
Balance as of September 28, 2019	$	(264.5)	$	(132.9)	$	(1.9)	$	(399.3)

⁽¹⁾Other comprehensive income (loss) before reclassifications, net of tax, for pension and other postretirement benefits related to the remeasurement of the ADPP’s net pension obligations and included tax of $10.7.

⁽²⁾Reclassifications to net income for pension and other postretirement benefits included losses of $444.7 and related tax of $179.3, which were recorded in “Other non-operating expense (income), net” and “Provision for (benefit from) income taxes,” respectively.