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Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended
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Oct. 03, 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 nine months ended October 3, 2021 and September 27, 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 |  | (57,261) |  |  | 11,302 |  |  | 7,804 |  |  | (38,155) |
Amounts reclassified from accumulated other comprehensive loss to net loss |  | — |  |  | 418,521 |  |  | (2,403) |  |  | 416,118 |
Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | — |  |  | — |  |  | (31) |  |  | (31) |
Other comprehensive (loss)/income |  | (57,261) |  |  | 429,823 |  |  | 5,370 |  |  | 377,932 |
Balance at October 3, 2021 |  | $ | (251,285) |  |  | $ | (132,924) |  |  | $ | 5,299 |  |  | $ | (378,910) |
Balance at December 31, 2019 |  | $ | (241,994) |  |  | $ | (574,413) |  |  | $ | (396) |  |  | $ | (816,803) |
Other comprehensive loss before reclassifications |  | (35,447) |  |  | (885) |  |  | (3,362) |  |  | (39,694) |
Amounts reclassified from accumulated other comprehensive loss to net income |  | — |  |  | 16,361 |  |  | 2,922 |  |  | 19,283 |
Other comprehensive (loss)/income |  | (35,447) |  |  | 15,476 |  |  | (440) |  |  | (20,411) |
Balance at September 27, 2020 |  | $ | (277,441) |  |  | $ | (558,937) |  |  | $ | (836) |  |  | $ | (837,214) |
Effects on net income of significant amounts reclassified from accumulated other comprehensive loss | The following table summarizes the effects on net income/(loss) of significant amounts reclassified from each component of accumulated other comprehensive loss for the three- and nine-month periods ended October 3, 2021 and September 27, 2020:
|  | Amount Reclassified from Accumulated Other Comprehensive Loss |  |
|  | Three Months Ended | Nine Months Ended |  |
Details about Accumulated Other Comprehensive Loss Components |  | October 3, 2021 | September 27, 2020 | October 3, 2021 | September 27, 2020 |  | Affected Line Item in the Condensed Consolidated Statements of Income
Gains/(losses) on cash flow hedges |  |  |  |  |
Foreign exchange contracts |  | $ | 937 |  | $ | (1,723) |  | $ | 2,766 |  | $ | (6,245) |  |  | Net sales
Foreign exchange contracts |  | (711) |  | 867 |  | (2,129) |  | 3,744 |  |  | Cost of sales
Commodity contracts |  | 2,051 |  | (792) |  | 2,626 |  | (1,346) |  |  | Cost of sales
|  | $ | 2,277 |  | $ | (1,648) |  | $ | 3,263 |  | (3,847) |  |  | Income/(Loss) before income taxes
|  | (607) |  | 403 |  | (860) |  | 925 |  |  | (Benefit from)/Provision for income taxes
|  | $ | 1,670 |  | $ | (1,245) |  | $ | 2,403 |  | (2,922) |  |  | Net income/ (loss)
Defined benefit pension items |  |  |  |  |  |  |
Effect of curtailment loss(a) |  | — |  | — |  | — |  | (31) |  |  | Non-operating pension costs
Effect of settlement loss(a) |  | (21) |  | — |  | (547,652) |  | (661) |  |  | Non-operating pension costs
Amortization of defined benefit pension items(a) |  | (1,640) |  | (7,103) |  | (14,973) |  | (21,185) |  |  | Non-operating pension costs
|  | $ | (1,661) |  | $ | (7,103) |  | $ | (562,625) |  | (21,877) |  |  | (Loss)/Income before income taxes
|  | 382 |  | 1,800 |  | 144,104 |  | 5,516 |  |  | Provision for/(Benefit from) income taxes
|  | $ | (1,279) |  | $ | (5,303) |  | $ | (418,521) |  | (16,361) |  |  | Net (loss)/income
Total reclassifications for the period |  | $ | 391 |  | $ | (6,548) |  | $ | (416,118) |  | $ | (19,283) |  |  | Net income/(loss)
(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 (loss)/income for the three-month periods ended October 3, 2021 and September 27, 2020:
|  |  | Three months ended October 3, 2021 |  | Three months ended September 27, 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 |  | $ | (37,077) |  | $ | — |  | $ | (37,077) |  |  | $ | 24,674 |  | $ | — |  | $ | 24,674 |
Defined benefit pension items: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 559 |  | (145) |  | 414 |  |  | (31) |  | 8 |  | (23) |
| Amounts reclassified from accumulated other comprehensive loss to net income(a) |  | 1,661 |  | (382) |  | 1,279 |  |  | 7,103 |  | (1,800) |  | 5,303 |
| Net other comprehensive income/(loss) from defined benefit pension items |  | 2,220 |  | (527) |  | 1,693 |  |  | 7,072 |  | (1,792) |  | 5,280 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 3,525 |  | (940) |  | 2,585 |  |  | 1,376 |  | (336) |  | 1,040 |
| Amounts reclassified from accumulated other comprehensive loss to net income |  | (2,277) |  | 607 |  | (1,670) |  |  | 1,648 |  | (403) |  | 1,245 |
| Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | 20 |  | (5) |  | 15 |  |  | — |  | — |  | — |
| Net other comprehensive income/(loss) from cash flow hedges |  | 1,268 |  | (338) |  | 930 |  |  | 3,024 |  | (739) |  | 2,285 |
Other comprehensive (loss)/income |  | $ | (33,589) |  | $ | (865) |  | $ | (34,454) |  |  | $ | 34,770 |  | $ | (2,531) |  | $ | 32,239 |
(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 nine-month periods ended October 3, 2021 and September 27, 2020:
|  |  | Nine months ended October 3, 2021 |  | Nine months ended September 27, 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(a) |  | $ | (57,261) |  | — |  | $ | (57,261) |  |  | $ | (27,866) |  | (7,581) |  | $ | (35,447) |
Defined benefit pension items: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 14,923 |  | (3,621) |  | 11,302 |  |  | (1,177) |  | 292 |  | (885) |
| Amounts reclassified from accumulated other comprehensive loss to net (loss)/income(b) |  | 562,625 |  | (144,104) |  | 418,521 |  |  | 21,877 |  | (5,516) |  | 16,361 |
| Net other comprehensive income/(loss) from defined benefit pension items |  | 577,548 |  | (147,725) |  | 429,823 |  |  | 20,700 |  | (5,224) |  | 15,476 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 10,536 |  | (2,732) |  | 7,804 |  |  | (4,345) |  | 983 |  | (3,362) |
| Amounts reclassified from accumulated other comprehensive loss to net (loss)/income |  | (3,263) |  | 860 |  | (2,403) |  |  | 3,847 |  | (925) |  | 2,922 |
| Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | (42) |  | 11 |  | (31) |  |  | — |  | — |  | — |
| Net other comprehensive income/(loss) from cash flow hedges |  | 7,231 |  | (1,861) |  | 5,370 |  |  | (498) |  | 58 |  | (440) |
Other comprehensive income/(loss): |  | $ | 527,518 |  | $ | (149,586) |  | $ | 377,932 |  |  | $ | (7,664) |  | $ | (12,747) |  | $ | (20,411) |
(a) Other comprehensive loss from foreign currency items for the nine-month period ended September 27, 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.

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