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Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 30, 2024

Equity [Abstract]

Schedule of Net Changes in Accumulated OCI by Component, Net of Tax

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)

Schedule of Reclassifications Out of Accumulated OCI

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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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

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