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Shareholders' Equity | 3 Months Ended
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Mar. 29, 2025
Shareholders' Equity |
Shareholders' Equity | Note K – Shareholders’ Equity Accumulated Other Comprehensive Income (Loss) The following table presents the changes in Accumulated other comprehensive income (loss), excluding noncontrolling interests: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended
​ | ​ | March 29, | ​ | March 30,
(thousands) |  | 2025 |  | 2024
Foreign Currency Translation Adjustment and Other: | ​ |  | ​ | ​ |  | ​
Other comprehensive income (loss) before reclassifications (a) | ​ | $ | 130,616 | ​ | $ | (98,172)
Amounts reclassified into income | ​ |  | 201 | ​ |  | 45
(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net: | ​ |  | ​ | ​ |  |
Other comprehensive (loss) income before reclassifications (b) | ​ |  | (4,873) | ​ |  | 4,970
Amounts reclassified into income | ​ |  | (1,079) | ​ |  | (1,372)
(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net: | ​ |  |  | ​ |  |
Amounts reclassified into income | ​ |  | (419) | ​ |  | 529
Employee Benefit Plan Items, Net: | ​ |  |  | ​ |  |
Amounts reclassified into income | ​ |  | (362) | ​ |  | (91)
Net change in Accumulated other comprehensive income (loss) | ​ | $ | 124,084 | ​ | $ | (94,091)
(a) | Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $12.7 million and ($6.8) million for the first quarter of 2025 and 2024, respectively.
(b) | For additional information related to net investment hedges and interest rate swaps refer to Note H.
Common Stock Outstanding Activity The following tables set forth the activity in the number of shares outstanding: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Common |  | ​ |  | Common
​ | ​ | Stock | ​ | Treasury | ​ | Stock
(thousands) | ​ | Issued | ​ | Stock | ​ | Outstanding
Common stock outstanding at December 31, 2024 |  | 55,592 |  | 3,420 |  | 52,172
Shares issued for stock-based compensation awards |  | 195 |  | (28) |  | 223
Repurchases of common stock |  | — |  | 528 |  | (528)
Common stock outstanding at March 29, 2025 |  | 55,787 |  | 3,920 |  | 51,867
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Common |  | ​ |  | Common
​ | ​ | Stock | ​ | Treasury | ​ | Stock
(thousands) | ​ | Issued | ​ | Stock | ​ | Outstanding
Common stock outstanding at December 31, 2023 |  | 57,691 |  | 3,880 |  | 53,811
Shares issued for stock-based compensation awards |  | 264 |  | (57) |  | 321
Repurchases of common stock |  | — |  | 902 |  | (902)
Common stock outstanding at March 30, 2024 |  | 57,955 |  | 4,725 |  | 53,230
​ ​ Share Repurchase Program The following table shows the company’s share repurchase program as of March 29, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Approximate
​ | ​ | ​ | ​ | ​ | ​ | Dollar Value of
​ | ​ | Dollar Value | ​ | Dollar Value of | ​ | Shares that May
​ | ​ | Approved for | ​ | Shares | ​ | Yet be Purchased
Share Repurchase Details by Month of Board Approval (thousands) | ​ | Repurchase | ​ | Repurchased | ​ | Under the Program
January 2023 | ​ | $ | 1,000,000 | ​ | $ | 726,210 | ​ | $ | 273,790
​ The company repurchased 0.5 million shares of its common stock for $49.9 million and 0.8 million shares of its common stock for $100.0 million in the first quarter of 2025 and 2024, respectively, under the company’s share repurchase program, excluding excise taxes. During the first quarter of 2025, the company accrued $0.3 million of excise tax, which is recorded within “Treasury stock” on the company’s consolidated balance sheets and reduces the share repurchase authorization, as the excise tax is a part of the overall cost of acquiring treasury shares. As of March 29, 2025, approximately $273.8 million remained available for repurchase under the share repurchase program. The company’s share repurchase program does not have an expiration date.

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