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EQUITY AND NONCONTROLLING INTERESTS (Tables)

6 Months Ended

Jun. 25, 2022

Equity [Abstract]

Reconciliation of the Numerator and Denominator in the Computations of the Basic and Diluted Earnings Per Share

The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share:

			Three Months Ended												Six Months Ended
			June 25, 2022						June 26, 2021						June 25, 2022						June 26, 2021
			(in thousands)
Numerator:
Net income			$	110,664					$	89,916					$	205,890					$	153,851
Less: Net income attributable to noncontrolling interests			1,343						1,468						3,547						3,873
Net income attributable to common shareholders			$	109,321					$	88,448					$	202,343					$	149,978
Denominator:
Weighted-average shares outstanding - Basic			50,823						50,297						50,732						50,138
Effect of dilutive securities:
Stock options, restricted stock units and performance share units			460						1,037						561						1,087
Weighted-average shares outstanding - Diluted			51,283						51,334						51,293						51,225
Anti-dilutive common stock equivalents(1)			597						159						550						159
(1) These common stock equivalents were outstanding for the periods presented, but were not included in the computation of diluted EPS for those periods because their inclusion would have had an anti-dilutive effect.

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes to each component of accumulated other comprehensive income (loss), net of income taxes, are as follows:

			Foreign Currency Translation Adjustment and Other						Pension and Other Post-Retirement Benefit Plans						Total
			(in thousands)
December 25, 2021			$	(98,173)					$	(66,567)					$	(164,740)
Other comprehensive loss before reclassifications			(104,196)						—						(104,196)
Amounts reclassified from accumulated other comprehensive income			—						1,487						1,487
Net current period other comprehensive (loss) income			(104,196)						1,487						(102,709)
Income tax (benefit) expense			(9,264)						370						(8,894)
June 25, 2022			$	(193,105)					$	(65,450)					$	(258,555)

Rollforward Redeemable Noncontrolling Interest

The following table provides a rollforward of the activity related to the Company’s redeemable noncontrolling interests:

			Six Months Ended
			June 25, 2022						June 26, 2021
			(in thousands)
Beginning balance			$	53,010					$	25,499
Purchase of a 10% redeemable noncontrolling interest			(15,000)						—
Adjustments of noncontrolling interests to redemption values			2,293						2,341
Net income attributable to noncontrolling interests			2,487						2,599
Foreign currency translation			(2,613)						360
Ending balance			$	40,177					$	30,799

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- References

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- Definition

Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

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- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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