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v3.23.2

Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Jul. 01, 2023
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 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) |
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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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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