| Accumulated Other Comprehensive Loss |
Accumulated Other Comprehensive LossThe following table summarizes the components of accumulated other comprehensive loss and the changes in the balances of each component of accumulated other comprehensive loss, net of tax as applicable, for the three-month periods ended April 2, 2023 and April 3, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign
Currency
Items | | Defined
Benefit
Pension Items | | Cash
Flow Hedges | | Accumulated
Other
Comprehensive
Loss | | | | | | | | | | Balance at December 31, 2022 | | $ | (338,316) | | | $ | (90,973) | | | $ | (794) | | | $ | (430,083) | | | Other comprehensive income/(loss) before reclassifications | | 31,569 | | | (393) | | | 2,645 | | | 33,821 | | | Amounts reclassified from accumulated other comprehensive loss to net income | | — | | | 1,309 | | | (431) | | | 878 | | | Amounts reclassified from accumulated other comprehensive loss to fixed assets | | — | | | — | | | 300 | | | 300 | | | Other comprehensive income | | 31,569 | | | 916 | | | 2,514 | | | 34,999 | | | | | | | | | | | Balance at April 2, 2023 | | $ | (306,747) | | | $ | (90,057) | | | $ | 1,720 | | | $ | (395,084) | | | | | | | | | | | Balance at December 31, 2021 | | $ | (269,076) | | | $ | (91,397) | | | $ | 1,048 | | | $ | (359,425) | | | Other comprehensive (loss)/income before reclassifications | | (185) | | | (971) | | | 5,119 | | | 3,963 | | | Amounts reclassified from accumulated other comprehensive loss to net loss | | — | | | 1,162 | | | (2,654) | | | (1,492) | | | Amounts reclassified from accumulated other comprehensive loss to fixed assets | | — | | | — | | | 85 | | | 85 | | | Other comprehensive (loss)/income | | (185) | | | 191 | | | 2,550 | | | 2,556 | | | | | | | | | | | Balance at April 3, 2022 | | $ | (269,261) | | | $ | (91,206) | | | $ | 3,598 | | | $ | (356,869) | | | | | | | | | | |
The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive loss for the three-month periods ended April 2, 2023 and April 3, 2022: | | | | | | | | | | | | | | | | | | | | | | Amount Reclassified from Accumulated
Other Comprehensive Loss | | | | | Three Months Ended | | | | Details about Accumulated Other
Comprehensive
Loss Components | | April 2,
2023 | April 3,
2022 | | | | Affected Line Item in
the Condensed Consolidated
Statements of Income | | | | | | | | | | | | | | | | | | Gains/(losses) on cash flow hedges | | | | | | | Foreign exchange contracts | | $ | 1,062 | | $ | 566 | | | | | Net sales | | Foreign exchange contracts | | (454) | | (695) | | | | | Cost of sales | | Commodity contracts | | (32) | | 3,850 | | | | | Cost of sales | | | 576 | | 3,721 | | | | | Income before income taxes | | Income tax impact | | (145) | | (1,067) | | | | | Provision for income taxes | | | 431 | | 2,654 | | | | | Net income | | Defined benefit pension items | | | | | | | | | | | | | | | | Effect of settlement loss(a) | | (686) | | (356) | | | | | Non-operating pension costs | Amortization of defined benefit pension items(a) | | (1,071) | | (1,171) | | | | | Non-operating pension costs | | | (1,757) | | (1,527) | | | | | Income before income taxes | | Income tax impact | | 448 | | 365 | | | | | Provision for income taxes | | | (1,309) | | (1,162) | | | | | Net income | | Total reclassifications for the period | | $ | (878) | | $ | 1,492 | | | | | Net income |
(a) See Note 11 for additional details. The following table summarizes the before and after tax amounts for the various components of other comprehensive (loss)/income for the three-month periods ended April 2, 2023 and April 3, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended April 2, 2023 | | Three months ended April 3, 2022 | | | | Before Tax
Amount | Tax
(Expense)
Benefit | After Tax
Amount | | Before Tax
Amount | Tax
(Expense)
Benefit | After Tax
Amount | | Foreign currency items: | | | | | | | | | | Net other comprehensive income/(loss) from foreign currency items | | $ | 31,569 | | $ | — | | $ | 31,569 | | | $ | (185) | | $ | — | | $ | (185) | | | | | | | | | | | | | | | | | | | | | | | Defined benefit pension items: | | | | | | | | | | Other comprehensive (loss)/income before
reclassifications | | (760) | | 367 | | (393) | | | (1,276) | | 305 | | (971) | | | Amounts reclassified from accumulated other comprehensive loss to net income(a) | | 1,757 | | (448) | | 1,309 | | | 1,527 | | (365) | | 1,162 | | | Net other comprehensive income/(loss) from
defined benefit pension items | | 997 | | (81) | | 916 | | | 251 | | (60) | | 191 | | | Gains and losses on cash flow hedges: | | | | | | | | | | Other comprehensive income/(loss) before
reclassifications | | 3,536 | | (891) | | 2,645 | | | 7,179 | | (2,060) | | 5,119 | | | Amounts reclassified from accumulated other comprehensive loss to net income(b) | | (576) | | 145 | | (431) | | | (3,721) | | 1,067 | | (2,654) | | | Amounts reclassified from accumulated other
comprehensive loss to fixed assets | | 401 | | (101) | | 300 | | | 117 | | (32) | | 85 | | | Net other comprehensive income/(loss) from
cash flow hedges | | 3,361 | | (847) | | 2,514 | | | 3,575 | | (1,025) | | 2,550 | | | Other comprehensive income/ (loss) | | $ | 35,927 | | $ | (928) | | $ | 34,999 | | | $ | 3,641 | | $ | (1,085) | | $ | 2,556 | |
(a) See Note 11 for additional details. (b) See Note 9 for additional details.
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