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Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Apr. 03, 2022

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 three months ended April 3, 2022 and April 4, 2021:

						Foreign Currency Items						Defined Benefit Pension Items						Cash Flow Hedges						Accumulated Other Comprehensive Loss
Balance at December 31, 2021						$	(269,076)					$	(91,397)					$	1,048					$	(359,425)
Other comprehensive (loss)/income before reclassifications						(185)						$	(971)					$	5,119					$	3,963
Amounts reclassified from accumulated other comprehensive loss to net income						—						1,162						(2,654)						(1,492)
Amounts reclassified from accumulated other comprehensive loss to fixed assets						—						—						85						85
Other comprehensive (loss)/income						(185)						191						2,550						2,556
Balance at April 3, 2022						$	(269,261)					$	(91,206)					$	3,598					$	(356,869)
Balance at December 31, 2020						$	(194,024)					$	(562,747)					$	(71)					$	(756,842)
Other comprehensive loss before reclassifications						(32,021)						115						998						(30,908)
Amounts reclassified from accumulated other comprehensive loss to net income						—						5,270						(30)						5,240
Amounts reclassified from accumulated other comprehensive loss to fixed assets						—						—						(10)						(10)
Other comprehensive (loss)/income						(32,021)						5,385						958						(25,678)
Balance at April 4, 2021						$	(226,045)					$	(557,362)					$	887					$	(782,520)

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 month periods ended April 3, 2022 and April 4, 2021:

						Amount Reclassified from Accumulated Other Comprehensive Loss
						Three Months Ended
Details about Accumulated Other Comprehensive Loss Components						April 3, 2022			April 4, 2021												Affected Line Item in the Condensed Consolidated Statements of Income
Gains/(losses) on cash flow hedges
Foreign exchange contracts						$	566		$	340											Net sales
Foreign exchange contracts						(695)			(228)												Cost of sales
Commodity contracts						3,850			(71)												Cost of sales
						$	3,721		$	41											Income before income taxes
						(1,067)			(11)												Provision for income taxes
						$	2,654		$	30											Net income
Defined benefit pension items
Effect of settlement loss(a)						(356)			—												Non-operating pension costs
Amortization of defined    benefit pension items(a)						(1,171)			(6,901)												Non-operating pension costs
						$	(1,527)		$	(6,901)											Income before income taxes
						365			1,631												Provision for income taxes
						$	(1,162)		$	(5,270)											Net income
Total reclassifications for the period						$	1,492		$	(5,240)											Net 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 April 3, 2022 and April 4, 2021:

									Three months ended April 3, 2022												Three months ended April 4, 2021
									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						$	(185)		$	—		$	(185)					$	(32,021)		$	—		$	(32,021)
Defined benefit pension items:
			Other comprehensive (loss)/income before reclassifications						(1,276)			305			(971)						151			(36)			115
			Amounts reclassified from accumulated other    comprehensive loss to net income(a)						1,527			(365)			1,162						6,901			(1,631)			5,270
			Net other comprehensive income/(loss) from defined benefit pension items						251			(60)			191						7,052			(1,667)			5,385
Gains and losses on cash flow hedges:
			Other comprehensive income/(loss) before reclassifications						7,179			(2,060)			5,119						1,338			(340)			998
			Amounts reclassified from accumulated other comprehensive loss to net income						(3,721)			1,067			(2,654)						(41)			11			(30)
			Amounts reclassified from accumulated other comprehensive loss to fixed assets						117			(32)			85						(13)			3			(10)
			Net other comprehensive income/(loss) from cash flow hedges						3,575			(1,025)			2,550						1,284			(326)			958
Other comprehensive income/(loss)									$	3,641		$	(1,085)		$	2,556					$	(23,685)		$	(1,993)		$	(25,678)

(a) See Note 11 for additional details.

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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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.

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