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Shareholders' Equity | 6 Months Ended
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Jun. 28, 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 | ​ | Six Months Ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
(thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Foreign Currency Translation Adjustment and Other: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Other comprehensive income (loss) before reclassifications (a) | ​ | $ | 261,734 | ​ | $ | (24,067) | ​ | $ | 392,350 | ​ | $ | (122,239)
Amounts reclassified into income | ​ |  | 3,173 | ​ |  | (119) | ​ |  | 3,374 | ​ |  | (74)
(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net: | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |
Other comprehensive (loss) income before reclassifications (b) | ​ |  | (5,694) | ​ |  | 2,750 | ​ |  | (10,567) | ​ |  | 7,720
Amounts reclassified into income | ​ |  | (510) | ​ |  | (1,372) | ​ |  | (1,589) | ​ |  | (2,744)
(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Amounts reclassified into (loss) income | ​ |  | (424) | ​ |  | (226) | ​ |  | (843) | ​ |  | 303
Post-retirement Expense Items, Net: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Amounts reclassified into income | ​ |  | (347) | ​ |  | (502) | ​ |  | (709) | ​ |  | (593)
Net change in Accumulated other comprehensive income (loss) | ​ | $ | 257,932 | ​ | $ | (23,536) | ​ | $ | 382,016 | ​ | $ | (117,627)
(a) | Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.9 million and $34.6 million for the second quarter and first six months of 2025, and ($2.2) million ($9.0) million for the second quarter and first six months of 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
Shares issued for stock-based compensation awards |  | 28 |  | (23) |  | 51
Repurchases of common stock |  | — |  | 417 |  | (417)
Common stock outstanding at June 28, 2025 |  | 55,815 |  | 4,314 |  | 51,501
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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
Shares issued for stock-based compensation awards |  | 91 |  | (9) |  | 100
Repurchases of common stock |  | — |  | 385 |  | (385)
Common stock outstanding at June 29, 2024 |  | 58,046 |  | 5,101 |  | 52,945
​ ​ Share Repurchase Program The following table shows the company’s share repurchase program as of June 28, 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 | ​ | $ | 776,653 | ​ | $ | 223,347
​ The company repurchased 0.4 million shares and 0.9 million shares of its common stock for $50.0 million and $99.9 million in the second quarter and first six months of 2025, respectively, under the company’s share repurchase program, excluding excise taxes. During the first six months of 2025, the company accrued $0.8 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. The company’s share repurchase program does not have an expiration date.

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