Other Income (Expense)

3 Months Ended

Mar. 30, 2018

Other Income and Expenses [Abstract]

Other Income (Expense)

Other Income (Expense)

Other income (expense) primarily includes gains and losses on derivative instruments that are not designated as cash flow hedges, foreign currency transaction gains or losses, which result from changes in exchange rates between the designated functional currency and the currency in which a transaction is denominated, as well as the non-service cost components of net pension expense. During the three fiscal months ended March 30, 2018 and March 31, 2017, the Company recorded other expense of $15.6 million and other income $14.6 million, respectively. For the three fiscal months ended March 30, 2018, other expense was primarily attributable to $15.0 million related to losses on derivative instruments that were not designated as cash flow hedges and expenses of $0.6 million related to the non-service cost components of net pension expense. For the three fiscal months ended March 31, 2017, other income was primarily attributable to $14.3 million related to gains on derivative instruments that were not designated as cash flow hedges and $0.7 million related to foreign currency transaction gains, partially offset by expenses of $0.4 million related to the non-service cost components of net pension expense.