XML 39 R30.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Schedule of 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-month periods ended March 31, 2024 and April 2, 2023:
|  | Foreign Currency Items |  | Defined Benefit Pension Items |  | Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at December 31, 2023 |  | $ | (267,578) |  |  | $ | (99,627) |  |  | $ | 943 |  |  | $ | (366,262) |
Other comprehensive (loss)/income before reclassifications |  | (19,319) |  |  | (932) |  |  | 518 |  |  | (19,733) |
Amounts reclassified from accumulated other comprehensive loss to net income |  | — |  |  | 975 |  |  | (349) |  |  | 626 |
Other comprehensive (loss)/income |  | (19,319) |  |  | 43 |  |  | 169 |  |  | (19,107) |
Balance at March 31, 2024 |  | $ | (286,897) |  |  | $ | (99,584) |  |  | $ | 1,112 |  |  | $ | (385,369) |
Balance at December 31, 2022 |  | $ | (338,316) |  |  | $ | (90,973) |  |  | $ | (794) |  |  | $ | (430,083) |
Other comprehensive income/(loss) before reclassifications |  | 31,569 |  |  | (393) |  |  | 2,645 |  |  | 33,821 |
Amounts reclassified from accumulated other comprehensive loss to net income |  | — |  |  | 1,309 |  |  | (431) |  |  | 878 |
Amounts reclassified from accumulated other comprehensive loss to property, plant, and equipment |  | — |  |  | — |  |  | 300 |  |  | 300 |
Other comprehensive income |  | 31,569 |  |  | 916 |  |  | 2,514 |  |  | 34,999 |
Balance at April 2, 2023 |  | $ | (306,747) |  |  | $ | (90,057) |  |  | $ | 1,720 |  |  | $ | (395,084) |
Schedule of 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 March 31, 2024 and April 2, 2023:
|  |  |  | Amount Reclassified from Accumulated Other Comprehensive Loss |  |
|  |  | Three Months Ended |  |
Details about Accumulated Other Comprehensive Loss Components |  |  |  | March 31, 2024 | April 2, 2023 |  | Affected Line Item in the Condensed Consolidated Statements of Income
Gains/(losses) on cash flow hedges |  |  |  |  |
Foreign exchange contracts(a) |  |  |  | $ | 436 |  | $ | 1,062 |  |  | Net sales
Foreign exchange contracts(a) |  |  |  | (75) |  | (454) |  |  | Cost of sales
Commodity contracts(a) |  |  |  | — |  | (32) |  |  | Cost of sales
|  |  |  | 361 |  | 576 |  |  | Income before income taxes
Income tax impact |  |  |  | (12) |  | (145) |  |  | Provision for income taxes
|  |  |  | 349 |  | 431 |  |  | Net income
Defined benefit pension items |  |  |  |  |  |  |
Effect of settlement loss(b) |  |  |  | — |  | (686) |  |  | Non-operating pension costs
Amortization of defined benefit pension items(b) |  |  |  | (1,230) |  | (1,071) |  |  | Non-operating pension costs
|  |  |  | (1,230) |  | (1,757) |  |  | Income before income taxes
Income tax impact |  |  |  | 255 |  | 448 |  |  | Provision for income taxes
|  |  |  | (975) |  | (1,309) |  |  | Net income
Total reclassifications for the period |  |  |  | $ | (626) |  | $ | (878) |  |  | Net income
(a) See Note 9 for additional details. (b) See Note 11 for additional details.
Schedule of 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 March 31, 2024 and April 2, 2023:
|  |  | Three Months Ended March 31, 2024 |  | Three Months Ended April 2, 2023
|  |  | 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 |  | $ | (16,788) |  | $ | (2,531) |  | $ | (19,319) |  |  | $ | 31,569 |  | $ | — |  | $ | 31,569 |
Defined benefit pension items: |  |  |  |  |  |  |  |
| Other comprehensive (loss)/income before reclassifications |  | (876) |  | (56) |  | (932) |  |  | (760) |  | 367 |  | (393) |
| Amounts reclassified from accumulated other comprehensive loss to net income(a) |  | 1,230 |  | (255) |  | 975 |  |  | 1,757 |  | (448) |  | 1,309 |
| Net other comprehensive income/(loss) from defined benefit pension items |  | 354 |  | (311) |  | 43 |  |  | 997 |  | (81) |  | 916 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
| Other comprehensive income/(loss) before reclassifications |  | 536 |  | (18) |  | 518 |  |  | 3,536 |  | (891) |  | 2,645 |
| Amounts reclassified from accumulated other comprehensive loss to net income(b) |  | (361) |  | 12 |  | (349) |  |  | (576) |  | 145 |  | (431) |
| Amounts reclassified from accumulated other comprehensive loss to property, plant and equipment |  | — |  | — |  | — |  |  | 401 |  | (101) |  | 300 |
| Net other comprehensive income/(loss) from cash flow hedges |  | 175 |  | (6) |  | 169 |  |  | 3,361 |  | (847) |  | 2,514 |
Other comprehensive (loss)/income |  | $ | (16,259) |  | $ | (2,848) |  | $ | (19,107) |  |  | $ | 35,927 |  | $ | (928) |  | $ | 34,999 |
(a) See Note 11 for additional details. (b) See Note 9 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + 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 -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration