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Accumulated Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 30, 2023
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | 12. Accumulated Other Comprehensive Income (Loss) The reclassifications out of accumulated other comprehensive income (loss) for the years ended December 30, 2023 and December 31, 2022 were as follows:
(In millions) |  |  |  |  |  |  |  |
Details about Accumulated Other Comprehensive Income (Loss) Components |  | Affected Line Item in the Consolidated Statements of Income
|  | 2023 |  |  | 2022 |  |  |
Gains (losses) on cash flow hedges |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 5.2 |  |  | $ | 4.8 |  |  | Cost of products sold
Interest rate contracts |  |  | 9.0 |  |  |  | 3.6 |  |  | Interest expense
Commodity contracts |  |  | (0.2 | ) |  |  | (7.3 | ) |  | Cost of products sold
|  |  | 14.0 |  |  |  | 1.1 |  |  | Total before tax
|  |  | (2.8 | ) |  |  | 0.6 |  |  | Tax expense
|  | $ | 11.2 |  |  | $ | 1.7 |  |  | Net of tax
Defined benefit plan items |  |  |  |  |  |  |  |
Recognition of actuarial gains |  | $ | 0.5 |  |  | $ | 1.3 |  |  | Other (income) expense, net
|  |  | 5.5 |  |  |  | 0.4 |  |  | Tax benefit
|  | $ | 6.0 |  |  | $ | 1.7 |  |  | Net of tax
Total reclassifications for the period |  | $ | 17.2 |  |  | $ | 3.4 |  |  | Net of tax
(a) These accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost. Refer to Note 15, “Defined Benefit Plans,” for additional information. The amounts in the table above reflect continuing operations, and exclude amounts related to discontinued operations of $4.5 million in 2022. 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 were as follows:
(In millions) | Foreign Currency Adjustments |  | Derivative Hedging Gain (Loss) |  | Defined Benefit Plan Adjustments |  | Accumulated Other Comprehensive (Loss) Income |
Balance at December 31, 2020 | $ | 7.2 |  | $ | 4.2 |  | $ | (66.5 | ) | $ | (55.1 | )
Amounts classified into accumulated other comprehensive (loss) income |  | (3.9 | ) |  | 1.1 |  |  | 35.1 |  |  | 32.3 |
Amounts reclassified into earnings |  | — |  |  | (2.4 | ) |  | 0.6 |  |  | (1.8 | )
Net current period other comprehensive (loss) income |  | (3.9 | ) |  | (1.3 | ) |  | 35.7 |  |  | 30.5 |
Balance at December 31, 2021 | $ | 3.3 |  | $ | 2.9 |  | $ | (30.8 | ) | $ | (24.6 | )
Amounts classified into accumulated other comprehensive (loss) income |  | (23.4 | ) |  | 99.6 |  |  | (14.6 | ) |  | 61.6 |
Amounts reclassified into earnings |  | — |  |  | (6.2 | ) |  | (1.7 | ) |  | (7.9 | )
Net current period other comprehensive (loss) income |  | (23.4 | ) |  | 93.4 |  |  | (16.3 | ) |  | 53.7 |
Distribution of Masterbrand |  | 8.0 |  |  | (2.8 | ) |  | 3.1 |  |  | 8.3 |
Balance at December 31, 2022 | $ | (12.1 | ) | $ | 93.5 |  | $ | (44.0 | ) | $ | 37.4 |
Amounts classified into accumulated other comprehensive (loss) income |  | 17.4 |  |  | 3.7 |  |  | 15.8 |  |  | 36.9 |
Other |  | — |  |  | — |  |  | 6.2 |  |  | 6.2 |
Amounts reclassified into earnings |  | — |  |  | (11.2 | ) |  | (6.0 | ) |  | (17.2 | )
Net current period other comprehensive (loss) income |  | 17.4 |  |  | (7.5 | ) |  | 16.0 |  |  | 25.9 |
Balance at December 30, 2023 | $ | 5.3 |  | $ | 86.0 |  | $ | (28.0 | ) | $ | 63.3 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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