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ACCUMULATED OTHER COMPREHENSIVE LOSS | 3 Months Ended
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Apr. 03, 2021
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The Company's comprehensive income (loss) consists of net income (loss) and specified components of other comprehensive income (loss) (“OCL”), which relate to changes in assets and liabilities that are not included in net income (loss) but are instead deferred and accumulated within a separate component of equity in the Company's balance sheets. The Company's comprehensive income (loss) is presented in the Company's statements of comprehensive income (loss). The following table presents deferred components of AOCL in equity, net of related taxes:
(In thousands) |  |  | March 2021 |  |  | December 2020 |  | March 2020
Foreign currency translation |  |  | $ | (87,260) |  |  |  | $ | (80,178) |  |  | $ | (111,328) |
Defined benefit pension plans |  |  | (1,815) |  |  |  | (1,889) |  |  | (2,272) |
Derivative financial instruments |  |  | (7,622) |  |  |  | (12,740) |  |  | (19,862) |
Accumulated other comprehensive loss |  |  | $ | (96,697) |  |  |  | $ | (94,807) |  |  | $ | (133,462) |
The following tables present changes in AOCL, net of related tax impact:
| Three Months Ended March 2021 |
| Foreign Currency Translation |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  |  |
(In thousands) |  |  |  | Total |
Balance, December 2020 | $ | (80,178) |  |  | $ | (1,889) |  |  | $ | (12,740) |  |  | $ | (94,807) |  |
Other comprehensive income (loss) due to gains (losses) arising before reclassifications | (7,082) |  |  | — |  |  | 2,850 |  |  | (4,232) |  |
Reclassifications to net income (loss) of previously deferred (gains) losses | — |  |  | 74 |  |  | 2,268 |  |  | 2,342 |  |
Net other comprehensive income (loss) | (7,082) |  |  | 74 |  |  | 5,118 |  |  | (1,890) |  |
Balance, March 2021 | $ | (87,260) |  |  | $ | (1,815) |  |  | $ | (7,622) |  |  | $ | (96,697) |  |
| Three Months Ended March 2020 |
| Foreign Currency Translation |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  |  |
(In thousands) |  |  |  | Total |
Balance, December 2019 | $ | (84,118) |  |  | $ | (2,301) |  |  | $ | 6,721 |  |  | $ | (79,698) |  |
Other comprehensive income (loss) due to gains (losses) arising before reclassifications | (27,210) |  |  | — |  |  | (23,655) |  |  | (50,865) |  |
Reclassifications to net income (loss) of previously deferred (gains) losses | — |  |  | 29 |  |  | (2,928) |  |  | (2,899) |  |
Net other comprehensive income (loss) | (27,210) |  |  | 29 |  |  | (26,583) |  |  | (53,764) |  |
Balance, March 2020 | $ | (111,328) |  |  | $ | (2,272) |  |  | $ | (19,862) |  |  | $ | (133,462) |  |
The following table presents reclassifications out of AOCL:
(In thousands) |  |  |  | Three Months Ended March |  |
Details About Accumulated Other Comprehensive Loss Reclassifications |  | Affected Line Item in the Financial Statements |  |
|  | 2021 |  |  | 2020 |  |  |  |  |  |
Defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net change in deferred losses during the period |  | Selling, general and administrative expenses |  |  | $ | (99) |  |  |  | $ | (38) |  |  |  |  |  |  |
Total before tax |  |  |  |  | (99) |  |  |  | (38) |  |  |  |  |  |  |
Income taxes |  | Income taxes |  |  | 25 |  |  |  | 9 |  |  |  |  |  |  |
Net of tax |  |  |  |  | (74) |  |  |  | (29) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | Net revenues |  |  | $ | 75 |  |  |  | $ | (358) |  |  |  |  |  |  |
Foreign currency exchange contracts |  | Cost of goods sold |  |  | (1,405) |  |  |  | 3,741 |  |  |  |  |  |  |
Foreign currency exchange contracts |  | Other expense, net |  |  | (134) |  |  |  | (4) |  |  |  |  |  |  |
Interest rate swap agreements |  | Interest expense |  |  | (1,513) |  |  |  | (231) |  |  |  |  |  |  |
Total before tax |  |  |  |  | (2,977) |  |  |  | 3,148 |  |  |  |  |  |  |
Income taxes |  | Income taxes |  |  | 709 |  |  |  | (220) |  |  |  |  |  |  |
Net of tax |  |  |  |  | (2,268) |  |  |  | 2,928 |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | (2,342) |  |  |  | $ | 2,899 |  |  |  |  |  |  |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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