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Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 27, 2020
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended June 27, 2020:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of March 28, 2020 | $ | (295.4) |  |  | $ | 10.3 |  |  | $ | (324.8) |  |  | $ | (609.9) |
Other comprehensive income before reclassifications | 87.8 |  |  | 1.4 |  |  | — |  |  | 89.2 |
Amounts reclassified from Accumulated OCI | — |  |  | (0.4) |  |  | 6.7 |  |  | 6.3 |
Net other comprehensive income | 87.8 |  |  | 1.0 |  |  | 6.7 |  |  | 95.5 |
Balance as of June 27, 2020 | $ | (207.6) |  |  | $ | 11.3 |  |  | $ | (318.1) |  |  | $ | (514.4) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended June 27, 2020:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of December 28, 2019 | $ | (187.4) |  |  | $ | 10.7 |  |  | $ | (331.2) |  |  | $ | (507.9) |
Other comprehensive income (loss) before reclassifications | (20.2) |  |  | 1.4 |  |  | — |  |  | (18.8) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.8) |  |  | 13.1 |  |  | 12.3 |
Net other comprehensive income (loss) | (20.2) |  |  | 0.6 |  |  | 13.1 |  |  | (6.5) |
Balance as of June 27, 2020 | $ | (207.6) |  |  | $ | 11.3 |  |  | $ | (318.1) |  |  | $ | (514.4) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended June 29, 2019:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of March 30, 2019 | $ | (170.3) |  |  | $ | 11.8 |  |  | $ | (337.9) |  |  | $ | (496.4) |
Other comprehensive loss before reclassifications | (8.4) |  |  | — |  |  | — |  |  | (8.4) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.3) |  |  | 4.4 |  |  | 4.1 |
Net other comprehensive income (loss) | (8.4) |  |  | (0.3) |  |  | 4.4 |  |  | (4.3) |
Balance as of June 29, 2019 | $ | (178.7) |  |  | $ | 11.5 |  |  | $ | (333.5) |  |  | $ | (500.7) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended June 29, 2019:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of December 29, 2018 | $ | (177.9) |  |  | $ | 12.2 |  |  | $ | (296.5) |  |  | $ | (462.2) |
Impact of the Tax Cuts and Jobs Act on Accumulated Other Comprehensive Income (ASU No. 2018-02) | — |  |  | — |  |  | (45.9) |  |  | (45.9) |
Balance at December 30, 2018 | (177.9) |  |  | 12.2 |  |  | (342.4) |  |  | (508.1) |
Other comprehensive loss before reclassifications | (0.8) |  |  | — |  |  | — |  |  | (0.8) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.7) |  |  | 8.9 |  |  | 8.2 |
Net other comprehensive income (loss) | (0.8) |  |  | (0.7) |  |  | 8.9 |  |  | 7.4 |
Balance as of June 29, 2019 | $ | (178.7) |  |  | $ | 11.5 |  |  | $ | (333.5) |  |  | $ | (500.7) |
The reclassifications out of Accumulated OCI for the three and six month periods ended June 27, 2020, and June 29, 2019, are as follows:
|  | Amount Reclassified from Accumulated OCI |  |  |  |  |  |  |  |
|  | Three Months Ended |  |  |  | Six Months Ended |  |  |  |
|  | June 27, 2020 |  | June 29, 2019 |  | June 27, 2020 |  | June 29, 2019 |  | Statement of Earnings Presentation
(Amounts in millions) |  |  |  |  |  |  |  |  |  |
Gains on cash flow hedges: |  |  |  |  |  |  |  |  |  |
Treasury locks |  | $ | 0.4 |  |  | $ | 0.3 |  |  | $ | 0.8 |  |  | $ | 0.7 |  |  | Interest expense
Income tax expense |  | — |  |  | — |  |  | — |  |  | — |  |  | Income tax expense
Net of tax |  | 0.4 |  |  | 0.3 |  |  | 0.8 |  |  | 0.7 |  |  |
Amortization of net unrecognized losses and prior service credits |  | (8.8) |  |  | (5.9) |  |  | (17.2) |  |  | (11.7) |  |  | See footnote below*
Income tax benefit |  | 2.1 |  |  | 1.5 |  |  | 4.1 |  |  | 2.8 |  |  | Income tax expense
Net of tax |  | (6.7) |  |  | (4.4) |  |  | (13.1) |  |  | (8.9) |  |  |
Total reclassifications for the period, net of tax |  | $ | (6.3) |  |  | $ | (4.1) |  |  | $ | (12.3) |  |  | $ | (8.2) |  |  |
* | These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 11 and Note 12 for further information. |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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