Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 01, 2023

Accumulated Other Comprehensive Income (Loss)

9. Accumulated Other Comprehensive Income (Loss)

Total accumulated other comprehensive income (loss) consists of net income and other changes in business equity from transactions and other events from sources other than stockholders. It includes currency translation gains and losses, unrealized gains and losses from derivative instruments designated as cash flow hedges, and defined benefit plan adjustments. The after-tax components of and changes in accumulated other comprehensive (loss) income for the thirteen weeks ended April 1, 2023 and three months ended March 31, 2022 were as follows:


(In millions)	Foreign Currency Adjustments			Derivative Hedging Gain (Loss)			Defined Benefit Plan Adjustments			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021	$	3.3		$	2.9		$	(30.8	)	$	(24.6	)
Amounts classified into accumulated other comprehensive (loss) income		11.6			49.2			0.2			61.0
Amounts reclassified from accumulated other comprehensive (loss) income		—			(1.1	)		—			(1.1	)
Net current-period other comprehensive (loss) income		11.6			48.1			0.2			59.9
Balance at March 31, 2022	$	14.9		$	51.0		$	(30.6	)	$	35.3

Balance at December 31, 2022	$	(12.1	)	$	93.5		$	(44.0	)	$	37.4
Amounts classified into accumulated other comprehensive (loss) income		8.0			(5.8	)		(0.2	)		2.0
Other		—			—			6.2			6.2
Amounts reclassified from accumulated other comprehensive (loss) income		—			(2.7	)		—			(2.7	)
Net current-period other comprehensive (loss) income		8.0			(8.5	)		6.0			5.5
Balance at April 1, 2023	$	(4.1	)	$	85.0		$	(38.0	)	$	42.9

The reclassifications out of accumulated other comprehensive loss for the thirteen weeks ended April 1, 2023 and three months ended March 31, 2022 were as follows:


(In millions)
Details about Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss						Affected Line Item in the Statement of Comprehensive Income
	Thirteen Weeks Ended April 1, 2023			Three Months Ended March 31, 2022
Gains (losses) on cash flow hedges
Foreign exchange contracts	$	2.0		$	0.4		Cost of products sold
Commodity contracts		0.2			0.1		Cost of products sold
Interest rate contracts		1.1			0.2		Interest expense
		3.3			0.7		Total before tax
		(0.6	)		(0.1	)	Tax expense
	$	2.7		$	0.6		Net of tax

The amounts in the table above reflect continuing operations, and exclude income amounts, net of tax, related to discontinued operations of $0.5 million in 2022.