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SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION | 12 Months Ended
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Dec. 31, 2022
Stockholders' Equity Note [Abstract] |
SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION | SUPPLEMENTAL EQUITY AND COMPREHENSIVE INCOME INFORMATION Common Stock and Share Repurchase Program Our Amended and Restated Certificate of Incorporation authorizes five million shares of $1 par value preferred stock (of which no shares are outstanding), with respect to which our Board may fix the series and terms of issuance, and 400 million shares of $1 par value voting common stock. From time to time, our Board authorizes the repurchase of shares of our outstanding common stock. Repurchased shares may be reissued under our long-term incentive plan or used for other corporate purposes. In 2022, we repurchased approximately 2.2 million shares of our common stock at an aggregate cost of $379.5 million. In 2021, we repurchased approximately 0.9 million shares of our common stock at an aggregate cost of $180.9 million. In April 2022 our Board authorized the repurchase of shares of our common stock with a fair market value of up to $750 million, excluding any fees, commissions or other expenses related to such purchases and in addition to the amount outstanding under our previous Board authorization. Board authorizations remain in effect until shares in the amount authorized thereunder have been repurchased. Shares of our common stock in the aggregate amount of $730 million as of December 31, 2022 remained authorized for repurchase under this Board authorization. Treasury Shares Reissuance We fund a portion of our employee-related costs using shares of our common stock held in treasury. We reduce capital in excess of par value based on the grant date fair value of vesting awards and record net gains or losses associated with using treasury shares to retained earnings. Accumulated Other Comprehensive Loss The changes in “Accumulated other comprehensive loss” (net of tax) for 2022 and 2021 were as follows:
(In millions) |  | Foreign Currency Translation |  | Pension and Other Postretirement Benefits |  | Cash Flow Hedges |  | Total
Balance as of January 2, 2021 |  | $ | (248.1) |  |  | $ | (92.7) |  |  | $ | (8.8) |  |  | $ | (349.6) |
Other comprehensive income (loss) before reclassifications, net of tax |  | 30.7 |  |  | 27.9 |  |  | 5.4 |  |  | 64.0 |
Reclassifications to net income, net of tax |  | — |  |  | 4.4 |  |  | (1.7) |  |  | 2.7 |
Net current-period other comprehensive income (loss), net of tax |  | 30.7 |  |  | 32.3 |  |  | 3.7 |  |  | 66.7 |
Balance as of January 1, 2022 |  | $ | (217.4) |  |  | $ | (60.4) |  |  | $ | (5.1) |  |  | $ | (282.9) |
Other comprehensive income (loss) before reclassifications, net of tax |  | (96.6) |  |  | 6.3 |  |  | 4.9 |  |  | (85.4) |
Reclassifications to net income, net of tax |  | — |  |  | 2.8 |  |  | 1.5 |  |  | 4.3 |
Net current-period other comprehensive income (loss), net of tax |  | (96.6) |  |  | 9.1 |  |  | 6.4 |  |  | (81.1) |
Balance as of December 31, 2022 |  | $ | (314.0) |  |  | $ | (51.3) |  |  | $ | 1.3 |  |  | $ | (364.0) |
The following table sets forth the income tax (benefit) expense allocated to each component of other comprehensive income (loss):
(In millions) |  | 2022 |  | 2021 |  | 2020
Foreign currency translation: |  |  |  |  |  |
Translation (loss) gain |  | $ | (7.0) |  |  | $ | (23.2) |  |  | $ | 27.5 |
Pension and other postretirement benefits: |  |  |  |  |  |
Net gain recognized from actuarial gain/loss and prior service cost/credit |  | .5 |  |  | 8.5 |  |  | 3.1 |
Reclassifications to net income |  | 1.1 |  |  | 1.6 |  |  | .9 |
Cash flow hedges: |  |  |  |  |  |
Gains (losses) recognized on cash flow hedges |  | 1.6 |  |  | 1.7 |  |  | (2.3) |
Reclassifications to net income |  | .4 |  |  | (.5) |  |  | — |
Income tax (benefit) expense allocated to components of other comprehensive income (loss) |  | $ | (3.4) |  |  | $ | (11.9) |  |  | $ | 29.2 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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