XML 22 R13.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Accumulated Other Comprehensive Loss | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Accumulated Other Comprehensive Loss | 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) |
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. 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
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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