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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 6 Months Ended
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Jun. 28, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of Changes in Balances to Components of Accumulated Other Comprehensive Loss | The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss for the three and six months ended June 28, 2025:
(Millions of Dollars) |  | Currency translation adjustment and other |  | Losses on cash flow hedges, net of tax |  | Gains (losses) on net investment hedges, net of tax |  | Pension (losses) gains, net of tax |  | Total
Balance - March 29, 2025 |  | $ | (2,033.7) |  |  | $ | (25.7) |  |  | $ | 80.4 |  |  | $ | (213.5) |  |  | $ | (2,192.5) |
Other comprehensive income (loss) before reclassifications |  | 288.4 |  |  | (31.0) |  |  | (36.6) |  |  | (5.6) |  |  | 215.2 |
Reclassification adjustments to earnings |  | — |  |  | (2.7) |  |  | — |  |  | 1.6 |  |  | (1.1) |
Net other comprehensive income (loss) |  | 288.4 |  |  | (33.7) |  |  | (36.6) |  |  | (4.0) |  |  | 214.1 |
Balance - June 28, 2025 |  | $ | (1,745.3) |  |  | $ | (59.4) |  |  | $ | 43.8 |  |  | $ | (217.5) |  |  | $ | (1,978.4) |
(Millions of Dollars) |  | Currency translation adjustment and other |  | Losses on cash flow hedges, net of tax |  | Gains (losses) on net investment hedges, net of tax |  | Pension (losses) gains, net of tax |  | Total
Balance - December 28, 2024 |  | $ | (2,170.2) |  |  | $ | (16.7) |  |  | $ | 78.4 |  |  | $ | (212.4) |  |  | $ | (2,320.9) |
Other comprehensive income (loss) before reclassifications |  | 424.9 |  |  | (39.1) |  |  | (34.6) |  |  | (8.3) |  |  | 342.9 |
Reclassification adjustments to earnings |  | — |  |  | (3.6) |  |  | — |  |  | 3.2 |  |  | (0.4) |
Net other comprehensive income (loss) |  | 424.9 |  |  | (42.7) |  |  | (34.6) |  |  | (5.1) |  |  | 342.5 |
Balance - June 28, 2025 |  | $ | (1,745.3) |  |  | $ | (59.4) |  |  | $ | 43.8 |  |  | $ | (217.5) |  |  | $ | (1,978.4) |
The following tables summarize the changes in the balances for each component of Accumulated other comprehensive loss for the three and six months ended June 29, 2024:
(Millions of Dollars) |  | Currency translation adjustment and other |  | (Losses) gains on cash flow hedges, net of tax |  | Gains on net investment hedges, net of tax |  | Pension (losses) gains, net of tax |  | Total
Balance - March 30, 2024 |  | $ | (1,963.1) |  |  | $ | (37.5) |  |  | $ | 71.4 |  |  | $ | (256.1) |  |  | $ | (2,185.3) |
Other comprehensive (loss) income before reclassifications |  | (47.8) |  |  | 1.3 |  |  | 1.4 |  |  | 0.8 |  |  | (44.3) |
Adjustments related to sales of businesses |  | (6.0) |  |  | — |  |  | — |  |  | — |  |  | (6.0) |
Reclassification adjustments to earnings |  | — |  |  | 0.9 |  |  | — |  |  | 2.2 |  |  | 3.1 |
Net other comprehensive (loss) income |  | (53.8) |  |  | 2.2 |  |  | 1.4 |  |  | 3.0 |  |  | (47.2) |
Balance - June 29, 2024 |  | $ | (2,016.9) |  |  | $ | (35.3) |  |  | $ | 72.8 |  |  | $ | (253.1) |  |  | $ | (2,232.5) |
(Millions of Dollars) |  | Currency translation adjustment and other |  | (Losses) gains on cash flow hedges, net of tax |  | Gains on net investment hedges, net of tax |  | Pension (losses) gains, net of tax |  | Total
Balance - December 30, 2023 |  | $ | (1,832.3) |  |  | $ | (42.5) |  |  | $ | 64.9 |  |  | $ | (259.2) |  |  | $ | (2,069.1) |
Other comprehensive (loss) income before reclassifications |  | (178.6) |  |  | 6.4 |  |  | 7.9 |  |  | 1.8 |  |  | (162.5) |
Adjustments related to sales of businesses |  | (6.0) |  |  | — |  |  | — |  |  | — |  |  | (6.0) |
Reclassification adjustments to earnings |  | — |  |  | 0.8 |  |  | — |  |  | 4.3 |  |  | 5.1 |
Net other comprehensive (loss) income |  | (184.6) |  |  | 7.2 |  |  | 7.9 |  |  | 6.1 |  |  | (163.4) |
Balance - June 29, 2024 |  | $ | (2,016.9) |  |  | $ | (35.3) |  |  | $ | 72.8 |  |  | $ | (253.1) |  |  | $ | (2,232.5) |
Schedule of Reclassifications out of Accumulated Other Comprehensive Loss | The reclassifications out of Accumulated other comprehensive loss for the three and six months ended June 28, 2025 and June 29, 2024 were as follows:
|  | Second Quarter |  | Year-to-Date |  | Affected line item in Consolidated Statements of Operations And Comprehensive Income (Loss)
(Millions of Dollars) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Realized gains (losses) on cash flow hedges |  | $ | 5.1 |  |  | $ | (0.1) |  |  | $ | 8.7 |  |  | $ | 1.6 |  |  | Cost of sales
Realized losses on cash flow hedges |  | (0.8) |  |  | (1.6) |  |  | (2.5) |  |  | (3.1) |  |  | Interest expense
Total before taxes |  | $ | 4.3 |  |  | $ | (1.7) |  |  | $ | 6.2 |  |  | $ | (1.5) |  |  |
Tax effect |  | (1.6) |  |  | 0.8 |  |  | (2.6) |  |  | 0.7 |  |  | Income taxes
Realized gains (losses) on cash flow hedges, net of tax |  | $ | 2.7 |  |  | $ | (0.9) |  |  | $ | 3.6 |  |  | $ | (0.8) |  |  |
Amortization of defined benefit pension items: |  |  |  |  |  |  |  |  |  |
Actuarial losses and prior service costs / credits |  | $ | (2.1) |  |  | $ | (2.8) |  |  | $ | (4.2) |  |  | $ | (5.6) |  |  | Other, net
Settlement loss |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |  |  | Other, net
Total before taxes |  | $ | (2.1) |  |  | $ | (2.9) |  |  | $ | (4.2) |  |  | $ | (5.7) |  |  |
Tax effect |  | 0.5 |  |  | 0.7 |  |  | 1.0 |  |  | 1.4 |  |  | Income taxes
Amortization of defined benefit pension items, net of tax |  | $ | (1.6) |  |  | $ | (2.2) |  |  | $ | (3.2) |  |  | $ | (4.3) |  |  |

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