XML 69 R44.htm IDEA: XBRL DOCUMENT

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the changes in the accumulated balances for each component of Accumulated other comprehensive loss:


(Millions of Dollars)			Currency translation adjustment and other						(Losses) gains on cash flow hedges, net of tax						Gains (losses) on net investment hedges, net of tax						Pension (losses) gains, net of tax						Total
Balance - January 2, 2021			$	(1,235.3)					$	(103.0)					$	72.8					$	(448.2)					$	(1,713.7)
Other comprehensive (loss) income before reclassifications			(307.7)						36.2						2.9						107.0						(161.6)

Reclassification adjustments to earnings			—						17.0						(3.9)						16.6						29.7
Net other comprehensive (loss) income			(307.7)						53.2						(1.0)						123.6						(131.9)
Balance - January 1, 2022			$	(1,543.0)					$	(49.8)					$	71.8					$	(324.6)					$	(1,845.6)
Other comprehensive (loss) income before reclassifications			(328.3)						31.7						3.7						73.4						(219.5)
Adjustments related to sales of businesses			(36.1)						—						—						—						(36.1)
Reclassification adjustments to earnings			—						(26.4)						(1.7)						9.8						(18.3)
Net other comprehensive (loss) income			(364.4)						5.3						2.0						83.2						(273.9)
Balance - December 31, 2022			$	(1,907.4)					$	(44.5)					$	73.8					$	(241.4)					$	(2,119.5)

Reclassification Out of Accumulated Other Comprehensive Loss

The reclassifications out of Accumulated other comprehensive loss for the years ended December 31, 2022 and January 1, 2022 were as follows:


(Millions of Dollars)						2022						2021
Components of Accumulated other comprehensive loss						Reclassification adjustments						Reclassification adjustments						Affected line item in Consolidated Statements of Operations
Realized gains (losses) on cash flow hedges						$	53.3					$	(26.1)					Cost of sales

Realized losses on cash flow hedges						(5.8)						(3.9)						Interest expense
Total before taxes						$	47.5					$	(30.0)
Tax effect						(21.1)						13.0						Income taxes
Realized gains (losses) on cash flow hedges, net of tax						$	26.4					$	(17.0)

Realized gains on net investment hedges						$	2.2					$	5.2					Other, net
Tax effect						(0.5)						(1.3)						Income taxes
Realized gains on net investment hedges, net of tax						$	1.7					$	3.9

Actuarial losses and prior service costs / credits						(13.3)						(21.0)						Other, net
Settlement losses						—						(1.1)						Other, net
Total before taxes						(13.3)						(22.1)
Tax effect						3.5						5.5						Income taxes
Amortization of defined benefit pension items, net of tax						$	(9.8)					$	(16.6)