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Accumulated Other Comprehensive Income (Loss) | 3 Months Ended
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Mar. 30, 2024
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended March 30, 2024:
(Amounts in millions) | Foreign Currency Translation |  | Cash Flow Hedges |  | Defined Benefit Pension and Postretirement Plans |  | Total
Balance as of December 30, 2023 | $ | (211.8) |  |  | $ | 5.7 |  |  | $ | (243.4) |  |  | $ | (449.5) |
Other comprehensive loss before reclassifications | (44.8) |  |  | — |  |  | — |  |  | (44.8) |
Amounts reclassified from Accumulated OCI | — |  |  | (0.4) |  |  | 1.4 |  |  | 1.0 |
Net other comprehensive income (loss) | (44.8) |  |  | (0.4) |  |  | 1.4 |  |  | (43.8) |
Balance as of March 30, 2024 | $ | (256.6) |  |  | $ | 5.3 |  |  | $ | (242.0) |  |  | $ | (493.3) |
Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended April 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 | 18.1 |  |  | — |  |  | — |  |  | 18.1 |
Amounts reclassified from Accumulated OCI | — |  |  | (0.4) |  |  | — |  |  | (0.4) |
Net other comprehensive income (loss) | 18.1 |  |  | (0.4) |  |  | — |  |  | 17.7 |
Balance as of April 1, 2023 | $ | (254.4) |  |  | $ | 6.9 |  |  | $ | (263.1) |  |  | $ | (510.6) |
The reclassifications out of Accumulated OCI for the three month periods ended March 30, 2024, and April 1, 2023, are as follows:
| Amount Reclassified from Accumulated OCI |  |
| Three Months Ended |  |  |  |
(Amounts in millions) | March 30, 2024 |  | April 1, 2023 |  |  |  |  |  | Statement of Earnings Presentation
Gains on cash flow hedges: |  |  |  |  |  |  |  |  |
Treasury locks | $ | 0.4 |  |  | $ | 0.4 |  |  |  |  |  |  | Interest expense
Income tax expense | — |  |  | — |  |  |  |  |  |  | Income tax expense
Net of tax | 0.4 |  |  | 0.4 |  |  |  |  |  |  |
Amortization of net unrecognized losses | $ | (1.8) |  |  | $ | — |  |  |  |  |  |  | See footnote below*
Income tax benefit | 0.4 |  |  | — |  |  |  |  |  |  | Income tax expense
Net of tax | (1.4) |  |  | — |  |  |  |  |  |  |
Total reclassifications for the period, net of tax | $ | (1.0) |  |  | $ | 0.4 |  |  |  |  |  |  |
* | 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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