XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.21.2

Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
--- | ---
Jul. 04, 2021
Equity [Abstract] |
Components of accumulated other comprehensive loss | The following table summarizes the components of accumulated other comprehensive loss and the changes in the balances of each component of accumulated other comprehensive loss, net of tax as applicable, for the six months ended July 4, 2021 and June 28, 2020:
|  | Foreign Currency Items |  | Defined Benefit Pension Items |  | Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at December 31, 2020 |  | $ | (194,024) |  |  | $ | (562,747) |  |  | $ | (71) |  |  | $ | (756,842) |
Other comprehensive (loss)/income before reclassifications |  | (20,184) |  |  | 10,888 |  |  | 5,219 |  |  | (4,077) |
Amounts reclassified from accumulated other comprehensive loss to net loss |  | — |  |  | 417,242 |  |  | (733) |  |  | 416,509 |
Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | — |  |  | — |  |  | (46) |  |  | (46) |
Other comprehensive (loss)/income |  | (20,184) |  |  | 428,130 |  |  | 4,440 |  |  | 412,386 |
Balance at July 4, 2021 |  | $ | (214,208) |  |  | $ | (134,617) |  |  | $ | 4,369 |  |  | $ | (344,456) |
Balance at December 31, 2019 |  | $ | (241,994) |  |  | $ | (574,413) |  |  | $ | (396) |  |  | $ | (816,803) |
Other comprehensive (loss)/income before reclassifications |  | (60,121) |  |  | (862) |  |  | (4,402) |  |  | (65,385) |
Amounts reclassified from accumulated other comprehensive loss to net income |  | — |  |  | 11,058 |  |  | 1,677 |  |  | 12,735 |
Other comprehensive (loss)/income |  | (60,121) |  |  | 10,196 |  |  | (2,725) |  |  | (52,650) |
Balance at June 28, 2020 |  | $ | (302,115) |  |  | $ | (564,217) |  |  | $ | (3,121) |  |  | $ | (869,453) |
Effects on net income of significant amounts reclassified from accumulated other comprehensive loss | The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive loss for the three- and six-month periods ended July 4, 2021 and June 28, 2020:
|  | Amount Reclassified from Accumulated Other Comprehensive Loss |  |
|  | Three Months Ended | Six Months Ended |  |
Details about Accumulated Other Comprehensive Loss Components |  | July 4, 2021 | June 28, 2020 | July 4, 2021 | June 28, 2020 |  | Affected Line Item in the Condensed Consolidated Statements of Income
Gains/(losses) on cash flow hedges |  |  |  |  |
Foreign exchange contracts |  | $ | 1,489 |  | $ | (3,384) |  | $ | 1,829 |  | $ | (4,522) |  |  | Net sales
Foreign exchange contracts |  | (1,190) |  | 2,050 |  | (1,418) |  | 2,877 |  |  | Cost of sales
Commodity contracts |  | 646 |  | 525 |  | 575 |  | (554) |  |  | Cost of sales
|  | $ | 945 |  | $ | (809) |  | $ | 986 |  | (2,199) |  |  | (Loss)/Income before income taxes
|  | (241) |  | 197 |  | (253) |  | 522 |  |  | Benefit from /(Provision for) income taxes
|  | $ | 704 |  | $ | (612) |  | $ | 733 |  | (1,677) |  |  | Net (loss)/income
Defined benefit pension items |  |  |  |  |  |  |
Effect of curtailment loss(a) |  | — |  | (31) |  | — |  | (31) |  |  | Non-operating pension costs
Effect of settlement loss(a) |  | (547,631) |  | (38) |  | (547,631) |  | (661) |  |  | Non-operating pension costs
Amortization of defined benefit pension items(a) |  | (6,432) |  | (7,221) |  | (13,333) |  | (14,082) |  |  | Non-operating pension costs
|  | $ | (554,063) |  | $ | (7,290) |  | $ | (560,964) |  | (14,774) |  |  | (Loss)/Income before income taxes
|  | 142,090 |  | 1,815 |  | 143,722 |  | 3,716 |  |  | Benefit from /(Provision for) income taxes
|  | $ | (411,973) |  | $ | (5,475) |  | $ | (417,242) |  | (11,058) |  |  | Net (loss)/income
Total reclassifications for the period |  | $ | (411,269) |  | $ | (6,087) |  | $ | (416,509) |  | $ | (12,735) |  |  | Net (loss)/income
(a) See Note 11 for additional details.
Before and after tax amounts for comprehensive income (loss) components | The following table summarizes the before and after tax amounts for the various components of other comprehensive income/(loss) for the three-month periods ended July 4, 2021 and June 28, 2020:
|  |  | Three months ended July 4, 2021 |  | Three months ended June 28, 2020
|  |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount
Foreign currency items: |  |  |  |  |  |  |  |
| Net other comprehensive loss from foreign currency items |  | $ | 11,837 |  | $ | — |  | $ | 11,837 |  |  | $ | 33,454 |  | $ | — |  | $ | 33,454 |
Defined benefit pension items: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 14,213 |  | (3,441) |  | 10,772 |  |  | (1,410) |  | 351 |  | (1,059) |
| Amounts reclassified from accumulated other comprehensive loss to net (loss) income(a) |  | 554,063 |  | (142,090) |  | 411,973 |  |  | 7,290 |  | (1,815) |  | 5,475 |
| Net other comprehensive income/(loss) from defined benefit pension items |  | 568,276 |  | (145,531) |  | 422,745 |  |  | 5,880 |  | (1,464) |  | 4,416 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 5,674 |  | (1,452) |  | 4,222 |  |  | 1,612 |  | (394) |  | 1,218 |
| Amounts reclassified from accumulated other comprehensive loss to net (loss) income |  | (945) |  | 241 |  | (704) |  |  | 809 |  | (197) |  | 612 |
| Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | (49) |  | 13 |  | (36) |  |  | — |  | — |  | — |
| Net other comprehensive income/(loss) from cash flow hedges |  | 4,680 |  | (1,198) |  | 3,482 |  |  | 2,421 |  | (591) |  | 1,830 |
Other comprehensive loss |  | $ | 584,793 |  | $ | (146,729) |  | $ | 438,064 |  |  | $ | 41,755 |  | $ | (2,055) |  | $ | 39,700 |
(a) See Note 11 for additional details. The following table summarizes the before and after tax amounts for the various components of other comprehensive income/(loss) for the six-month periods ended July 4, 2021 and June 28, 2020:
|  |  | Six months ended July 4, 2021 |  | Six months ended June 28, 2020
|  |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount
Foreign currency items: |  |  |  |  |  |  |  |
| Net other comprehensive (loss)/income from foreign currency items(a) |  | $ | (20,184) |  | $ | — |  | $ | (20,184) |  |  | $ | (52,540) |  | (7,581) |  | $ | (60,121) |
Defined benefit pension items: |  |  |  |  |  |  |  |
| Other comprehensive (loss)/income before reclassifications |  | 14,364 |  | (3,476) |  | 10,888 |  |  | (1,146) |  | 284 |  | (862) |
| Amounts reclassified from accumulated other comprehensive income/(loss) to net income(b) |  | 560,964 |  | (143,722) |  | 417,242 |  |  | 14,774 |  | (3,716) |  | 11,058 |
| Net other comprehensive income/(loss) from defined benefit pension items |  | 575,328 |  | (147,198) |  | 428,130 |  |  | 13,628 |  | (3,432) |  | 10,196 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
| Other comprehensive (loss)/income before reclassifications |  | 7,012 |  | (1,793) |  | 5,219 |  |  | (5,721) |  | 1,319 |  | (4,402) |
| Amounts reclassified from accumulated other comprehensive income/(loss) to net income |  | (986) |  | 253 |  | (733) |  |  | 2,199 |  | (522) |  | 1,677 |
| Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | (62) |  | 16 |  | (46) |  |  | — |  | — |  | — |
| Net other comprehensive (loss)/income from cash flow hedges |  | 5,964 |  | (1,524) |  | 4,440 |  |  | (3,522) |  | 797 |  | (2,725) |
Other comprehensive income/(loss): |  | $ | 561,108 |  | $ | (148,722) |  | $ | 412,386 |  |  | $ | (42,434) |  | $ | (10,216) |  | $ | (52,650) |
(a) Other comprehensive loss from foreign currency items for the six-month period ended June 28, 2020 includes the settlement gain and corresponding tax provision related to the termination of a net investment hedge. See Note 9 for more information. (b) See Note 11 for additional details.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://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 http://asc.fasb.org/extlink&oid=124509347&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 http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration