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Shareholders' Equity Components of Other Comprehensive Income (Tables) | 3 Months Ended
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Apr. 01, 2023
Changes in Components of Accumulated Other Comprehensive Income [Abstract] |
Components of Accumulated Other Comprehensive Income [Table Text Block] | The following table presents the changes in Accumulated other comprehensive income (loss), excluding noncontrolling interests:
|  | Quarter Ended |  |
(thousands) |  | April 1, 2023 |  | April 2, 2022 |  |  |  |
Foreign Currency Translation Adjustment and Other: |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications (a) |  | $ | 8,008 |  |  | $ | (48,700) |  |  |  |  |
Amounts reclassified into income |  | 200 |  |  | (341) |  |  |  |  |
Unrealized Gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net: |  |  |  |  |  |  |  |
Other comprehensive income before reclassifications (b) |  | 1,125 |  |  | 1,094 |  |  |  |  |
Amounts reclassified into income |  | (1,558) |  |  | (1,669) |  |  |  |  |
Unrealized Gain (Loss) on Interest Rate Swaps Designated as Cash Flow Hedges, Net: |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications (b) |  | (4,347) |  |  | 7,547 |  |  |  |  |
Amounts reclassified into income |  | 638 |  |  | 658 |  |  |  |  |
Employee Benefit Plan Items, Net: |  |  |  |  |  |  |  |
Amounts reclassified into income |  | (272) |  |  | 99 |  |  |  |  |
Net change in Accumulated other comprehensive income (loss) |  | $ | 3,794 |  |  | $ | (41,312) |  |  |  |  |
(a) Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $5.6 million and $(8.3) million for the first quarter of 2023 and 2022, respectively. (b) For additional information related to net investment hedges and interest rate swaps refer to Note H.
Share-Repurchase Programs [Table Text Block] | The following table shows the company’s Board of Directors (the “Board”) approved share-repurchase programs as of April 1, 2023:
Share-Repurchase Details by Month of Board Approval (thousands) |  | Dollar Value Approved for Repurchase |  | Dollar Value of Shares Repurchased |  | Approximate Dollar Value of Shares that May Yet be Purchased Under the Program
July 2021 |  | $ | 600,000 |  |  | $ | 600,000 |  |  | $ | — |
December 2021 |  | 600,000 |  |  | 600,000 |  |  | — |
September 2022 |  | 600,000 |  |  | 571,503 |  |  | 28,497 |
January 2023 |  | 1,000,000 |  |  | — |  |  | 1,000,000 |
Total |  | $ | 2,800,000 |  |  | $ | 1,771,503 |  |  | $ | 1,028,497 |
The company repurchased 2.6 million shares of common stock for $300.2 million and 2.0 million shares of common stock for $250.0 million in the first quarter of 2023 and 2022, respectively, under the company's share-repurchase program. On January 31, 2023, the company's Board of Directors approved a $1.0 billion increase to the company's share-repurchase program. As of April 1, 2023, approximately $1.0 billion remained available for repurchase under the program. The company's share-repurchase program does not have an expiration date.
Schedule of Stock by Class | The following table sets forth the activity in the number of shares outstanding:
(thousands) | Common Stock Issued |  | Treasury Stock |  | Common Stock Outstanding
Common stock outstanding at December 31, 2022 | 125,424 |  |  | 66,175 |  |  | 59,249 |
Shares issued for stock-based compensation awards | — |  |  | (313) |  |  | 313 |
Repurchases of common stock | — |  |  | 2,564 |  |  | (2,564) |
Common stock outstanding at April 1, 2023 | 125,424 |  |  | 68,426 |  |  | 56,998 |
(thousands) | Common Stock Issued |  | Treasury Stock |  | Common Stock Outstanding
Common stock outstanding at December 31, 2021 | 125,424 |  |  | 57,358 |  |  | 68,066 |
Shares issued for stock-based compensation awards | — |  |  | (385) |  |  | 385 |
Repurchases of common stock | — |  |  | 2,015 |  |  | (2,015) |
Common stock outstanding at April 2, 2022 | 125,424 |  |  | 58,988 |  |  | 66,436 |

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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 + Details
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- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21553-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21488-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21484-112644 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
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