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Accumulated Other Comprehensive Income/(Loss) | 6 Months Ended
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Jun. 29, 2025
Equity [Abstract] |
Accumulated Other Comprehensive Income/(Loss) | Accumulated Other Comprehensive Income/(Loss) The following table summarizes the components of accumulated other comprehensive income/(loss) and the changes in the balances of each component of accumulated other comprehensive income/(loss), net of tax as applicable, for the six-month periods ended June 29, 2025 and June 30, 2024:
|  | Foreign Currency Items |  | Defined Benefit Pension Items |  | Gains and Losses on Cash Flow Hedges |  | Accumulated Other Comprehensive Income/(Loss)
Balance at December 31, 2024 |  | $ | (410,931) |  |  | $ | (90,613) |  |  | $ | (1,190) |  |  | $ | (502,734) |
Other comprehensive income before reclassifications |  | 461,790 |  |  | 2,032 |  |  | 4,246 |  |  | 468,068 |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income |  | 51,747 |  |  | 1,447 |  |  | (1,165) |  |  | 52,029 |
Other comprehensive income |  | 513,537 |  |  | 3,479 |  |  | 3,081 |  |  | 520,097 |
Balance at June 29, 2025 |  | $ | 102,606 |  |  | $ | (87,134) |  |  | $ | 1,891 |  |  | $ | 17,363 |
Balance at December 31, 2023 |  | $ | (267,578) |  |  | $ | (99,627) |  |  | $ | 943 |  |  | $ | (366,262) |
Other comprehensive loss before reclassifications |  | (55,598) |  |  | (181) |  |  | (1,124) |  |  | (56,903) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income |  | 2,913 |  |  | 2,303 |  |  | (368) |  |  | 4,848 |
Other comprehensive (loss)/income |  | (52,685) |  |  | 2,122 |  |  | (1,492) |  |  | (52,055) |
Balance at June 30, 2024 |  | $ | (320,263) |  |  | $ | (97,505) |  |  | $ | (549) |  |  | $ | (418,317) |
The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive income/(loss) for the three- and six-month periods ended June 29, 2025 and June 30, 2024:
|  | Amount Reclassified from Accumulated Other Comprehensive Income/(Loss) |  |
|  | Three Months Ended |  | Six Months Ended |  |
Details about Accumulated Other Comprehensive Income/(Loss) Components |  | June 29, 2025 | June 30, 2024 |  | June 29, 2025 | June 30, 2024 |  | Affected Line Item in the Condensed Consolidated Statements of Income
Foreign currency items |  |  |  |  |  |  |  |
Currency translation adjustment loss on TFP sale(a) |  | $ | (47,955) |  | $ | — |  |  | $ | (47,955) |  | $ | — |  |  | Net income from discontinued operations
Currency translation adjustment loss on Venezuela sale(a) |  | — |  | — |  |  | (3,792) |  | — |  |  | (Loss)/Gain on divestiture of business
Currency translation adjustment loss on Protexic sale(a) |  | — |  | (2,913) |  |  | — |  | (2,913) |  |  | (Loss)/Gain on divestiture of business
|  | (47,955) |  | (2,913) |  |  | (51,747) |  | (2,913) |  |  | Net income
Gains/(losses) on cash flow hedges |  |  |  |  |  |
Foreign exchange contracts(b) |  | 1,368 |  | 230 |  |  | 1,767 |  | 666 |  |  | Net sales
Foreign exchange contracts(b) |  | (151) |  | (64) |  |  | (192) |  | (139) |  |  | Cost of sales
|  | 1,217 |  | 166 |  |  | 1,575 |  | 527 |  |  | Income from continuing operations before income taxes
Income tax impact |  | (319) |  | (147) |  |  | (410) |  | (159) |  |  | Provision for income taxes
|  | 898 |  | 19 |  |  | 1,165 |  | 368 |  |  | Net income
Defined benefit pension items |  |  |  |  |  |  |  |
Effect of settlement loss(c) |  | — |  | (511) |  |  | — |  | (511) |  |  | Non-operating pension costs
Amortization of defined benefit pension items(c) |  | (842) |  | (1,199) |  |  | (1,898) |  | (2,429) |  |  | Non-operating pension costs
|  | (842) |  | (1,710) |  |  | (1,898) |  | (2,940) |  |  | Income from continuing operations before income taxes
Income tax impact |  | 204 |  | 382 |  |  | 451 |  | 637 |  |  | Provision for income taxes
|  | (638) |  | (1,328) |  |  | (1,447) |  | (2,303) |  |  | Net income
Total reclassifications for the period |  | $ | (47,695) |  | $ | (4,222) |  |  | $ | (52,029) |  | $ | (4,848) |  |  | Net income
(a) See Note 4 for additional details. (b) See Note 11 for additional details. (c) See Note 13 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 June 29, 2025 and June 30, 2024:
|  | Three Months Ended June 29, 2025 |  | Three Months Ended June 30, 2024
|  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount
Foreign currency items: |  |  |  |  |  |  |  |
Net other comprehensive income/(loss) from foreign currency items |  | $ | 241,272 |  | $ | 48,446 |  | $ | 289,718 |  |  | $ | (35,280) |  | $ | (999) |  | $ | (36,279) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(a) |  | 47,955 |  | — |  | 47,955 |  |  | 2,913 |  | — |  | 2,913 |
Net other comprehensive income/(loss) from foreign currency items |  | 289,227 |  | 48,446 |  | 337,673 |  |  | (32,367) |  | (999) |  | (33,366) |
Defined benefit pension items: |  |  |  |  |  |  |  |
Other comprehensive income/(loss) before reclassifications |  | 3,025 |  | (728) |  | 2,297 |  |  | 671 |  | 80 |  | 751 |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(b) |  | 842 |  | (204) |  | 638 |  |  | 1,710 |  | (382) |  | 1,328 |
Net other comprehensive income/(loss) from defined benefit pension items |  | 3,867 |  | (932) |  | 2,935 |  |  | 2,381 |  | (302) |  | 2,079 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Other comprehensive income/(loss) before reclassifications |  | 2,528 |  | (306) |  | 2,222 |  |  | (2,144) |  | 502 |  | (1,642) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(c) |  | (1,217) |  | 319 |  | (898) |  |  | (166) |  | 147 |  | (19) |
Net other comprehensive income/(loss) from cash flow hedges |  | 1,311 |  | 13 |  | 1,324 |  |  | (2,310) |  | 649 |  | (1,661) |
Other comprehensive income/(loss) |  | $ | 294,405 |  | $ | 47,527 |  | $ | 341,932 |  |  | $ | (32,296) |  | $ | (652) |  | $ | (32,948) |
(a) See Note 4 for additional details. (b) See Note 13 for additional details. (c) 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 six-month periods ended June 29, 2025 and June 30, 2024:
|  | Six Months Ended June 29, 2025 |  | Six Months Ended June 30, 2024
|  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount |  | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount
Foreign currency items: |  |  |  |  |  |  |  |
Net other comprehensive income/(loss) from foreign currency items |  | $ | 403,100 |  | $ | 58,690 |  | $ | 461,790 |  |  | $ | (52,068) |  | $ | (3,530) |  | $ | (55,598) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(a) |  | 51,747 |  | — |  | 51,747 |  |  | 2,913 |  | — |  | 2,913 |
Net other comprehensive income/(loss) from foreign currency items |  | 454,847 |  | 58,690 |  | 513,537 |  |  | (49,155) |  | (3,530) |  | (52,685) |
Defined benefit pension items: |  |  |  |  |  |  |  |
Other comprehensive income/(loss) before reclassifications |  | 2,679 |  | (647) |  | $ | 2,032 |  |  | (205) |  | 24 |  | (181) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(b) |  | 1,898 |  | (451) |  | 1,447 |  |  | 2,940 |  | (637) |  | 2,303 |
Net other comprehensive (loss)/income from defined benefit pension items |  | 4,577 |  | (1,098) |  | 3,479 |  |  | 2,735 |  | (613) |  | 2,122 |
Gains and losses on cash flow hedges: |  |  |  |  |  |  |  |
Other comprehensive (loss)/income before reclassifications |  | 5,243 |  | (997) |  | $ | 4,246 |  |  | (1,608) |  | 484 |  | (1,124) |
Amounts reclassified from accumulated other comprehensive income/(loss) to net income(c) |  | (1,575) |  | 410 |  | (1,165) |  |  | (527) |  | 159 |  | (368) |
Net other comprehensive income/(loss) from cash flow hedges |  | 3,668 |  | (587) |  | 3,081 |  |  | (2,135) |  | 643 |  | (1,492) |
Other comprehensive income/(loss) |  | $ | 463,092 |  | $ | 57,005 |  | $ | 520,097 |  |  | $ | (48,555) |  | $ | (3,500) |  | $ | (52,055) |
(a) See Note 3 for additional details. (b) See Note 12 for additional details. (c) See Note 10 for additional details.

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- 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/1943274/2147477250/944-220-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/1943274/2147478524/942-220-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
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