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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Shares
Capital in Excess of Stated Value
Accumulated Other Comprehensive Loss
Retained Earnings
Noncontrolling Interests
Beginning balance at Dec. 31, 2022 $ 2,072,797 $ 7,175 $ 140,539 $ (430,083) $ 2,348,183 $ 6,983
Beginning balance (in shares) at Dec. 31, 2022   97,645        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 148,264       148,319 (55)
Other comprehensive (loss)/income            
Translation gain (loss) 31,808     31,569   239
Defined benefit plan adjustment, net of tax 916     916    
Derivative financial instruments, net of tax 2,514     2,514    
Other comprehensive income/(loss) 35,238     34,999   239
Dividends (48,203)       (48,203)  
Issuance of stock awards 472   472      
Issuance of stock awards (in shares)   485        
Shares repurchased (10,576)   (10,576)      
Shares repurchased (in shares)   (175)        
Share-based compensation 7,573   7,573      
Ending balance at Apr. 02, 2023 2,205,565 $ 7,175 138,008 (395,084) 2,448,299 7,167
Ending balance (in shares) at Apr. 02, 2023   97,955        
Beginning balance at Dec. 31, 2022 2,072,797 $ 7,175 140,539 (430,083) 2,348,183 6,983
Beginning balance (in shares) at Dec. 31, 2022   97,645        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 394,071          
Other comprehensive (loss)/income            
Translation gain (loss) 4,474          
Defined benefit plan adjustment, net of tax 2,554          
Derivative financial instruments, net of tax 2,218          
Other comprehensive income/(loss)       9,973    
Ending balance at Oct. 01, 2023 2,339,155 $ 7,175 152,148 (420,110) 2,593,332 6,610
Ending balance (in shares) at Oct. 01, 2023   97,956        
Beginning balance at Apr. 02, 2023 2,205,565 $ 7,175 138,008 (395,084) 2,448,299 7,167
Beginning balance (in shares) at Apr. 02, 2023   97,955        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 114,749       114,649 100
Other comprehensive (loss)/income            
Translation gain (loss) 21,690     21,988   (298)
Defined benefit plan adjustment, net of tax (1,763)     (1,763)    
Derivative financial instruments, net of tax 1,428     1,428    
Other comprehensive income/(loss) 21,355     21,653   (298)
Dividends (50,180)       (50,180)  
Issuance of stock awards 222   222      
Issuance of stock awards (in shares)   1        
Shares repurchased (26)   (26)      
Shares repurchased (in shares)   0        
Share-based compensation 7,637   7,637      
Ending balance at Jul. 02, 2023 2,299,322 $ 7,175 145,841 (373,431) 2,512,768 6,969
Ending balance (in shares) at Jul. 02, 2023   97,956        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 131,058       130,749 309
Other comprehensive (loss)/income            
Translation gain (loss) (49,024)     (48,356)   (668)
Defined benefit plan adjustment, net of tax 3,401     3,401    
Derivative financial instruments, net of tax (1,724)     (1,724)    
Other comprehensive income/(loss) (47,347)     (46,679)   (668)
Dividends (50,185)       (50,185)  
Issuance of stock awards 397   397      
Issuance of stock awards (in shares)   0        
Shares repurchased (3)   (3)      
Shares repurchased (in shares)   0        
Share-based compensation 5,913   5,913      
Ending balance at Oct. 01, 2023 2,339,155 $ 7,175 152,148 (420,110) 2,593,332 6,610
Ending balance (in shares) at Oct. 01, 2023   97,956        
Beginning balance at Dec. 31, 2023 $ 2,431,835 [1] $ 7,175 159,047 (366,262) 2,624,380 7,495
Beginning balance (in shares) at Dec. 31, 2023 97,957 97,957        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) $ 65,273       65,177 96
Other comprehensive (loss)/income            
Translation gain (loss) (19,786)     (19,319)   (467)
Defined benefit plan adjustment, net of tax 43     43    
Derivative financial instruments, net of tax 169     169    
Other comprehensive income/(loss) (19,574)     (19,107)   (467)
Dividends (50,348)       (50,348)  
Issuance of stock awards 204   204      
Issuance of stock awards (in shares)   460        
Shares repurchased (9,139)   (9,139)      
Shares repurchased (in shares)   (162)        
Share-based compensation 8,325   8,325      
Other 906   906      
Ending balance at Mar. 31, 2024 2,427,482 $ 7,175 159,343 (385,369) 2,639,209 7,124
Ending balance (in shares) at Mar. 31, 2024   98,255        
Beginning balance at Dec. 31, 2023 $ 2,431,835 [1] $ 7,175 159,047 (366,262) 2,624,380 7,495
Beginning balance (in shares) at Dec. 31, 2023 97,957 97,957        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) $ 207,433          
Other comprehensive (loss)/income            
Translation gain (loss) (17,272)          
Defined benefit plan adjustment, net of tax 3,158          
Derivative financial instruments, net of tax (1,432)          
Other comprehensive income/(loss)       (15,748)    
Ending balance at Sep. 29, 2024 $ 2,487,160 $ 7,175 175,532 (382,010) 2,678,242 8,221
Ending balance (in shares) at Sep. 29, 2024 98,258 98,258        
Beginning balance at Mar. 31, 2024 $ 2,427,482 $ 7,175 159,343 (385,369) 2,639,209 7,124
Beginning balance (in shares) at Mar. 31, 2024   98,255        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 90,951       90,811 140
Other comprehensive (loss)/income            
Translation gain (loss) (33,408)     (33,366)   (42)
Defined benefit plan adjustment, net of tax 2,079     2,079    
Derivative financial instruments, net of tax (1,661)     (1,661)    
Other comprehensive income/(loss) (32,990)     (32,948)   (42)
Dividends (51,347)       (51,347)  
Issuance of stock awards 181   181      
Issuance of stock awards (in shares)   4        
Shares repurchased (23)   (23)      
Shares repurchased (in shares)   (1)        
Share-based compensation 6,656   6,656      
Other 957   957      
Ending balance at Jun. 30, 2024 2,441,867 $ 7,175 167,114 (418,317) 2,678,673 7,222
Ending balance (in shares) at Jun. 30, 2024   98,258        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income/(loss) 51,209       50,921 288
Other comprehensive (loss)/income            
Translation gain (loss) 35,922     35,211   711
Defined benefit plan adjustment, net of tax 1,036     1,036    
Derivative financial instruments, net of tax 60     60    
Other comprehensive income/(loss) 37,018     36,307   711
Dividends (51,352)       (51,352)  
Issuance of stock awards 265   265      
Issuance of stock awards (in shares)   0        
Shares repurchased (10)   (10)      
Shares repurchased (in shares)   0        
Share-based compensation 7,682   7,682      
Other 481   481      
Ending balance at Sep. 29, 2024 $ 2,487,160 $ 7,175 $ 175,532 $ (382,010) $ 2,678,242 $ 8,221
Ending balance (in shares) at Sep. 29, 2024 98,258 98,258        
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).