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