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Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended
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Dec. 30, 2023
Equity [Abstract] |
Reclassifications Out of 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.
After-Tax Components of and Changes in Accumulated Other Comprehensive (Loss) Income | 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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