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EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Tables)
 6 Months Ended
Jun. 29, 2019
SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION  
Weighted-Average Shares Outstanding Used in Computation of Basic and Diluted Income per Share
The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share:

 
Three months ended
 
Six months ended
 
June 29,
2019
 
June 30,
2018
 
June 29,
2019
 
June 30,
2018
Weighted-average number of common shares used in basic income per share
43.914

 
42.988

 
43.767

 
42.881

Dilutive securities — Employee stock options and restricted stock units
0.978

 
1.735

 
0.983

 
1.664

Weighted-average number of common shares and dilutive securities used in diluted income per share
44.892

 
44.723

 
44.750

 
44.545
Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss)
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 29, 2019 were as follows:
 
Foreign
Currency
Translation
Adjustment
 
Net Unrealized Losses
on Qualifying Cash
Flow Hedges(1)
 
Pension and
Postretirement
Liability
Adjustment(2)
 
Total
Balance at beginning of period
$
228.2

 
$
(0.5
)
 
$
18.9

 
$
246.6

Other comprehensive loss before reclassifications
—

 
(2.2
)
 
—

 
(2.2
)
Amounts reclassified from accumulated other comprehensive income (loss)
(1.0
)
 
—

 
(0.7
)
 
(1.7
)
Current-period other comprehensive loss
(1.0
)
 
(2.2
)
 
(0.7
)
 
(3.9
)
Balance at end of period
$
227.2

 
$
(2.7
)
 
$
18.2

 
$
242.7

__________________________
(1) 
Net of tax benefit of $0.9 and $0.1 as of June 29, 2019 and March 30, 2019, respectively.
(2) 
Net of tax provision of $6.1 and $6.4 as of June 29, 2019 and March 30, 2019. The balances as of June 29, 2019 and March 30, 2019 include unamortized prior service credits.
The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 29, 2019 were as follows:
 
Foreign
Currency
Translation
Adjustment
 
Net Unrealized Losses
on Qualifying Cash
Flow Hedges(1)
 
Pension and
Postretirement
Liability
Adjustment(2)
 
Total
Balance at beginning of period
$
225.8

 
$
(0.6
)
 
$
19.7

 
$
244.9

Other comprehensive loss before reclassifications
—

 
(2.3
)
 
—

 
(2.3
)
Amounts reclassified from accumulated other comprehensive income (loss)
1.4

 
0.2

 
(1.5
)
 
0.1

Current-period other comprehensive income (loss)
1.4

 
(2.1
)
 
(1.5
)
 
(2.2
)
Balance at end of period
$
227.2

 
$
(2.7
)
 
$
18.2

 
$
242.7

__________________________
(1) 
Net of tax benefit of $0.9 and $0.2 as of June 29, 2019 and December 31, 2018, respectively.
(2) 
Net of tax provision of $6.1 and $6.6 as of June 29, 2019 and December 31, 2018. The balances as of June 29, 2019 and December 31, 2018 include unamortized prior service credits.
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended June 30, 2018 were as follows:
 
Foreign
Currency
Translation
Adjustment
 
Net Unrealized Gains (Losses)
on Qualifying Cash
Flow Hedges(1)
 
Pension and
Postretirement
Liability
Adjustment(2)
 
Total
Balance at beginning of period
$
231.2

 
$
0.3

 
$
23.0

 
$
254.5

Other comprehensive loss before reclassifications
(1.8
)
 
(0.5
)
 
—

 
(2.3
)
Amounts reclassified from accumulated other comprehensive income
—

 
—

 
(0.7
)
 
(0.7
)
Current-period other comprehensive loss
(1.8
)
 
(0.5
)
 
(0.7
)
 
(3.0
)
Balance at end of period
$
229.4

 
$
(0.2
)
 
$
22.3

 
$
251.5

__________________________
(1) 
Net of tax (provision) benefit of $0.1 and $(0.1) as of June 30, 2018 and March 31, 2018, respectively.
(2) 
Net of tax provision of $7.3 and $7.6 as of June 30, 2018 and March 31, 2018. The balances as of June 30, 2018 and March 31, 2018 include unamortized prior service credits.
The changes in the components of accumulated other comprehensive income, net of tax, for the six months ended June 30, 2018 were as follows:
 
Foreign
Currency
Translation
Adjustment
 
Net Unrealized Gains
on Qualifying Cash
Flow Hedges(1)
 
Pension and
Postretirement
Liability
Adjustment(2)
 
Total
Balance at beginning of period
$
230.2

 
$
0.8

 
$
19.1

 
$
250.1

Other comprehensive loss before reclassifications
(0.8
)
 
(0.8
)
 
—

 
(1.6
)
Amounts reclassified from accumulated other comprehensive income:
 
 
 
 
 
 
 
Impact of initial adoption of ASC 606 - See
Note 2
—

 
(0.3
)
 
—

 
(0.3
)
Stranded income tax effects resulting from tax reform - See Note 2
—

 
0.2

 
4.6

 
4.8

Commodity contracts and amortization of prior service credits - See below
—

 
(0.1
)
 
(1.4
)
 
(1.5
)
Current-period other comprehensive income (loss)
(0.8
)
 
(1.0
)
 
3.2

 
1.4

Balance at end of period
$
229.4

 
$
(0.2
)
 
$
22.3

 
$
251.5

__________________________
(1) 
Net of tax (provision) benefit of $0.1 and $(0.5) as of June 30, 2018 and December 31, 2017, respectively.
(2) 
Net of tax provision of $7.3 and $12.5 as of June 30, 2018 and December 31, 2017. The balances as of June 30, 2018 and December 31, 2017 include unamortized prior service credits.
Schedule of Amounts Reclassified from Each Component of Other Comprehensive Income (Loss)
The following summarizes amounts reclassified from each component of accumulated comprehensive income for the three months ended June 29, 2019 and June 30, 2018:
 
Amount Reclassified from AOCI
 
 
 
Three months ended
 
 
 
June 29, 2019
 
June 30, 2018
 
Affected Line Item in the Condensed
Consolidated Statements of Operations
(Gains) losses on qualifying cash flow hedges:
 

 
 

 
 
Commodity contracts
$
—

 
$
—

 
Cost of products sold
Swaps
—

 
—

 
Interest expense
Pre-tax
—

 
—

 
 
Income taxes
—

 
—

 
 
 
$
—

 
$
—

 
 
 
 
 
 
 
 
Gains on pension and postretirement items:
 

 
 

 
 
Amortization of unrecognized prior service credits - Pre-tax
$
(1.0
)
 
$
(1.0
)
 
Other income (expense), net
Income taxes
0.3

 
0.3

 
 
 
$
(0.7
)
 
$
(0.7
)
 
 

The following summarizes amounts reclassified from each component of accumulated comprehensive income for the six months ended June 29, 2019 and June 30, 2018:
 
Amount Reclassified from AOCI
 
 
 
Six months ended
 
 
 
June 29, 2019
 
June 30, 2018
 
Affected Line Item in the Condensed
Consolidated Statements of Operations
(Gains) losses on qualifying cash flow hedges:
 

 
 

 
 
Commodity contracts
$
0.3

 
$
(0.2
)
 
Cost of products sold
Swaps
—

 
—

 
Interest expense
Pre-tax
0.3

 
(0.2
)
 
 
Income taxes
(0.1
)
 
0.1

 
 
 
$
0.2

 
$
(0.1
)
 
 
 
 
 
 
 
 
Gains on pension and postretirement items:
 

 
 

 
 
Amortization of unrecognized prior service credits - Pre-tax
$
(2.0
)
 
$
(2.0
)
 
Other income (expense), net
Income taxes
0.5

 
0.6

 
 
 
$
(1.5
)
 
$
(1.4
)