XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.24.2

Supplemental Equity and Comprehensive Income Information | 6 Months Ended
--- | ---
Jun. 29, 2024
Stockholders' Equity Note [Abstract] |
Supplemental Equity and Comprehensive Income Information | Supplemental Equity and Comprehensive Income Information Consolidated Changes in Shareholders’ Equity
| Three Months Ended |  | Six Months Ended
(In millions) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Common stock issued, $1 par value per share | $ | 124.1 |  |  | $ | 124.1 |  |  | $ | 124.1 |  |  | $ | 124.1 |
Capital in excess of par value |  |  |  |  |  |  |
Beginning balance | $ | 834.0 |  |  | $ | 850.8 |  |  | $ | 854.5 |  |  | $ | 879.3 |
Issuance of shares under stock-based compensation plans(1) | (.9) |  |  | .5 |  |  | (21.4) |  |  | (28.0) |
Ending balance | $ | 833.1 |  |  | $ | 851.3 |  |  | $ | 833.1 |  |  | $ | 851.3 |
Retained earnings |  |  |  |  |  |  |
Beginning balance | $ | 4,809.1 |  |  | $ | 4,486.4 |  |  | $ | 4,691.8 |  |  | $ | 4,414.6 |
Net income | 176.8 |  |  | 100.4 |  |  | 349.2 |  |  | 221.6 |
Issuance of shares under stock-based compensation plans(1) | .9 |  |  | .8 |  |  | 4.1 |  |  | 5.6 |
Contribution of shares to 401(k) plan(1) | 6.3 |  |  | 4.7 |  |  | 13.3 |  |  | 11.3 |
Dividends | (70.9) |  |  | (65.4) |  |  | (136.2) |  |  | (126.2) |
Ending balance | $ | 4,922.2 |  |  | $ | 4,526.9 |  |  | $ | 4,922.2 |  |  | $ | 4,526.9 |
Treasury stock at cost |  |  |  |  |  |  |
Beginning balance | $ | (3,141.2) |  |  | $ | (3,057.4) |  |  | $ | (3,134.4) |  |  | $ | (3,021.8) |
Repurchase of shares for treasury | (25.1) |  |  | (38.8) |  |  | (40.7) |  |  | (89.5) |
Issuance of shares under stock-based compensation plans(1) | 9.8 |  |  | .4 |  |  | 16.3 |  |  | 13.0 |
Contribution of shares to 401(k) plan(1) | 1.9 |  |  | 1.9 |  |  | 4.2 |  |  | 4.4 |
Ending balance | $ | (3,154.6) |  |  | $ | (3,093.9) |  |  | $ | (3,154.6) |  |  | $ | (3,093.9) |
Accumulated other comprehensive loss |  |  |  |  |  |  |
Beginning balance | $ | (422.0) |  |  | $ | (361.0) |  |  | $ | (408.1) |  |  | $ | (364.0) |
Other comprehensive income (loss), net of tax | (15.7) |  |  | (32.2) |  |  | (29.6) |  |  | (29.2) |
Ending balance | $ | (437.7) |  |  | $ | (393.2) |  |  | $ | (437.7) |  |  | $ | (393.2) |
(1)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. Dividends per common share were as follows:
| Three Months Ended |  | Six Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Dividends per common share | $ | .88 |  |  | $ | .81 |  |  | $ | 1.69 |  |  | $ | 1.56 |
Changes in Accumulated Other Comprehensive Loss The changes in “Accumulated other comprehensive loss” (net of tax) for the six-month period ended June 29, 2024 were as follows:
(In millions) | Foreign Currency Translation |  | Pension and Other Postretirement Benefits |  | Cash Flow Hedges |  | Total
Balance as of December 30, 2023 | $ | (328.6) |  |  | $ | (77.5) |  |  | $ | (2.0) |  |  | $ | (408.1) |
Other comprehensive income (loss) before reclassifications, net of tax | (29.7) |  |  | — |  |  | (.6) |  |  | (30.3) |
Reclassifications to net income, net of tax | — |  |  | .4 |  |  | .3 |  |  | .7 |
Other comprehensive income (loss), net of tax | (29.7) |  |  | .4 |  |  | (.3) |  |  | (29.6) |
Balance as of June 29, 2024 | $ | (358.3) |  |  | $ | (77.1) |  |  | $ | (2.3) |  |  | $ | (437.7) |
The changes in “Accumulated other comprehensive loss” (net of tax) for the six-month period ended July 1, 2023 were as follows:
(In millions) | Foreign Currency Translation |  | Pension and Other Postretirement Benefits |  | Cash Flow Hedges |  | Total
Balance as of December 31, 2022 | $ | (314.0) |  |  | $ | (51.3) |  |  | $ | 1.3 |  |  | $ | (364.0) |
Other comprehensive income (loss) before reclassifications, net of tax | (26.9) |  |  | — |  |  | (4.0) |  |  | (30.9) |
Reclassifications to net income, net of tax | — |  |  | (.4) |  |  | 2.1 |  |  | 1.7 |
Other comprehensive income (loss), net of tax | (26.9) |  |  | (.4) |  |  | (1.9) |  |  | (29.2) |
Balance as of July 1, 2023 | $ | (340.9) |  |  | $ | (51.7) |  |  | $ | (.6) |  |  | $ | (393.2) |

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration