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Accumulated Other Comprehensive Income (Loss) - (Tables) | 6 Months Ended
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Jul. 01, 2023
Equity [Abstract] |
Schedule of Net Changes in Accumulated OCI by Component, Net of Tax | The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended July 1, 2023:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of April 1, 2023 | $ | (254.4) |  |  | $ | 6.9 |  |  | $ | (263.1) |  |  | $ | (510.6) |
Other comprehensive income before reclassifications | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Amounts reclassified from Accumulated OCI | — |  |  | (0.4) |  |  | 0.1 |  |  | (0.3) |
Net other comprehensive income (loss) | 0.2 |  |  | (0.4) |  |  | 0.1 |  |  | (0.1) |
Balance as of July 1, 2023 | $ | (254.2) |  |  | $ | 6.5 |  |  | $ | (263.0) |  |  | $ | (510.7) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended July 1, 2023:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of December 31, 2022 | $ | (272.5) |  |  | $ | 7.3 |  |  | $ | (263.1) |  |  | $ | (528.3) |
Other comprehensive income before reclassifications | 18.3 |  |  | — |  |  | — |  |  | 18.3 |
Amounts reclassified from Accumulated OCI | — |  |  | (0.8) |  |  | 0.1 |  |  | (0.7) |
Net other comprehensive income (loss) | 18.3 |  |  | (0.8) |  |  | 0.1 |  |  | 17.6 |
Balance as of July 1, 2023 | $ | (254.2) |  |  | $ | 6.5 |  |  | $ | (263.0) |  |  | $ | (510.7) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended July 2, 2022:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of April 2, 2022 | $ | (154.8) |  |  | $ | 8.5 |  |  | $ | (204.3) |  |  | $ | (350.6) |
Other comprehensive loss before reclassifications | (110.3) |  |  | — |  |  | — |  |  | (110.3) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.4) |  |  | 3.6 |  |  | 3.2 |
Net other comprehensive income (loss) | (110.3) |  |  | (0.4) |  |  | 3.6 |  |  | (107.1) |
Balance as of July 2, 2022 | $ | (265.1) |  |  | $ | 8.1 |  |  | $ | (200.7) |  |  | $ | (457.7) |
The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended July 2, 2022:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of January 1, 2022 | $ | (145.1) |  |  | $ | 8.9 |  |  | $ | (207.7) |  |  | $ | (343.9) |
Other comprehensive loss before reclassifications | (120.0) |  |  | — |  |  | — |  |  | (120.0) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.8) |  |  | 7.0 |  |  | 6.2 |
Net other comprehensive income (loss) | (120.0) |  |  | (0.8) |  |  | 7.0 |  |  | (113.8) |
Balance as of July 2, 2022 | $ | (265.1) |  |  | $ | 8.1 |  |  | $ | (200.7) |  |  | $ | (457.7) |
Schedule of Reclassifications Out of Accumulated OCI | The reclassifications out of Accumulated OCI for the three and six month periods ended July 1, 2023, and July 2, 2022, are as follows:
| Amount Reclassified from Accumulated OCI |
| Three Months Ended |  | Six Months Ended |
(Amounts in millions) | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022 | Statement of Earnings Presentation
Gains on cash flow hedges: |  |  |  |  |  |  |  |
Treasury locks | $ | 0.4 |  |  | $ | 0.4 |  |  | $ | 0.8 |  |  | $ | 0.8 |  | Interest expense
Income tax expense | — |  |  | — |  |  | — |  |  | — |  | Income tax expense
Net of tax | 0.4 |  |  | 0.4 |  |  | 0.8 |  |  | 0.8 |  |
Amortization of net unrecognized losses | $ | (0.1) |  |  | $ | (4.7) |  |  | $ | (0.1) |  |  | $ | (9.2) |  | See footnote below*
Income tax benefit | — |  |  | 1.1 |  |  | — |  |  | 2.2 |  | Income tax expense
Net of tax | (0.1) |  |  | (3.6) |  |  | (0.1) |  |  | (7.0) |  |
Total reclassifications for the period, net of tax | $ | 0.3 |  |  | $ | (3.2) |  |  | $ | 0.7 |  |  | $ | (6.2) |  |
* | These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for additional information.

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