Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 28, 2025

Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended June 28, 2025:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of March 29, 2025	$	(248.6)	$	3.6	$	(254.5)	$	(499.5)
Other comprehensive income before reclassifications	93.4		—		—		93.4
Amounts reclassified from Accumulated OCI	—		(0.4)		4.0		3.6
Net other comprehensive income (loss)	93.4		(0.4)		4.0		97.0
Balance as of June 28, 2025	$	(155.2)	$	3.2	$	(250.5)	$	(402.5)

Below is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended June 28, 2025:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 28, 2024	$	(320.6)	$	4.0	$	(258.4)	$	(575.0)
Other comprehensive income before reclassifications	165.4		—		—		165.4
Amounts reclassified from Accumulated OCI	—		(0.8)		7.9		7.1
Net other comprehensive income (loss)	165.4		(0.8)		7.9		172.5
Balance as of June 28, 2025	$	(155.2)	$	3.2	$	(250.5)	$	(402.5)

Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended June 29, 2024:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of March 30, 2024	$	(256.6)	$	5.3	$	(242.0)	$	(493.3)
Other comprehensive loss before reclassifications	(12.8)		—		—		(12.8)
Amounts reclassified from Accumulated OCI	—		(0.4)		1.7		1.3
Net other comprehensive income (loss)	(12.8)		(0.4)		1.7		(11.5)
Balance as of June 29, 2024	$	(269.4)	$	4.9	$	(240.3)	$	(504.8)

Below is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended June 29, 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	(57.6)		—		—		(57.6)
Amounts reclassified from Accumulated OCI	—		(0.8)		3.1		2.3
Net other comprehensive income (loss)	(57.6)		(0.8)		3.1		(55.3)
Balance as of June 29, 2024	$	(269.4)	$	4.9	$	(240.3)	$	(504.8)

The reclassifications out of Accumulated OCI for the three and six month periods ended June 28, 2025, and June 29, 2024, are as follows:


	Amount Reclassified from Accumulated OCI
	Three Months Ended				Six Months Ended
(Amounts in millions)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024		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:	$	(5.4)	$	(2.2)	$	(10.6)	$	(4.0)	See footnote below*
Income tax benefit	1.4		0.5		2.7		0.9		Income tax expense
Net of tax	(4.0)		(1.7)		(7.9)		(3.1)
Total reclassifications for the period, net of tax	$	(3.6)	$	(1.3)	$	(7.1)	$	(2.3)



*			These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 9 and Note 10 for additional information.