Accumulated Other Comprehensive (Loss) Income - (Tables)

3 Months Ended

Apr. 03, 2021

Changes in Accumulated Other Comprehensive (Loss) Income by Component

Changes in accumulated other comprehensive (loss) income (“AOCI”) by component for the three months ended April 3, 2021 and March 28, 2020 were as follows:


(in millions of U.S. dollars) 1	Gains and Losses on Derivative Instruments		Pension Benefit Plan Items		Currency Translation Adjustment Items		Total
Beginning balance December 28, 2019	$	11.2	$	(1.0)	$	(78.7)	$	(68.5)
OCI before reclassifications	(8.7)		—		(18.7)		(27.4)
Amounts reclassified from AOCI	(2.5)		—		—		(2.5)
Net current-period OCI	(11.2)		—		(18.7)		(29.9)
Ending balance March 28, 2020	$	—	$	(1.0)	$	(97.4)	$	(98.4)

Beginning balance January 2, 2021	$	—	$	(1.1)	$	(85.6)	$	(86.7)
OCI before reclassifications	—		—		6.5		6.5
Amounts reclassified from AOCI	—		—		—		—
Net current-period OCI	—		—		6.5		6.5
Ending balance April 3, 2021	$	—	$	(1.1)	$	(79.1)	$	(80.2)

______________________

1 All amounts are net of tax. Amounts in parentheses indicate debits.

Summary of Amounts Reclassified from AOCI

The following table summarizes the amounts reclassified from AOCI for the three months ended April 3, 2021 and March 28, 2020, respectively:


(in millions of U.S. dollars)	For the Three Months Ended				Affected Line Item in the Statement Where Net Income Is Presented
Details About AOCI Components 1	April 3, 2021		March 28, 2020
Gains and losses on derivative instruments
Foreign currency and commodity hedges	$	—	$	0.1		Cost of sales
Commodity hedges 2	—		2.4			Gain on sale of discontinued operations
	—		2.5			Total before taxes
	—		—			Tax expense or (benefit)
	$	—	$	2.5		Net of tax
Amortization of pension benefit plan items
Actuarial (losses)/gains 3	$	—	$	—
Prior service costs 3	—		—
	—		—			Total before taxes
	—		—			Tax expense or (benefit)
	$	—	$	—		Net of tax
Total reclassifications for the period	$	—	$	2.5		Net of tax

______________________

1 Amounts in parentheses indicate debits.

2 Net of $1.3 million of associated tax impact that resulted in a decrease to the gain on the sale of discontinued operations for the three months ended March 28, 2020.

3 These AOCI components are included in the computation of net periodic pension cost.