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Comprehensive Income | 3 Months Ended
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Apr. 01, 2023
Comprehensive Income [Abstract] |
Comprehensive Income | Comprehensive Income Accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets includes foreign currency cumulative translation adjustments; prior service costs and credits and net actuarial gains and losses for defined benefit plans; and unrealized derivative gains and losses, all net of tax. Changes in the components of Accumulated other comprehensive loss, all net of tax, for the three months ended April 1, 2023 and April 2, 2022 are as follows:
| Three Months Ended
(in millions) | April 1, 2023 |  | April 2, 2022
Net earnings | $ | 112.3 |  |  | $ | 174.2 |
Other comprehensive income (loss): |  |  |
Foreign currency cumulative translation adjustments | 6.3 |  |  | 2.1 |
Net change in unamortized actuarial gains | 0.1 |  |  | 0.2 |
Net change in unrealized derivative gains | (2.8) |  |  | 7.6 |
Total other comprehensive income | 3.6 |  |  | 9.9 |
Comprehensive income | $ | 115.9 |  |  | $ | 184.1 |
The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended April 1, 2023:
(in millions) | Foreign currency translation |  | Prior service credits |  | Net actuarial gains |  |  |  | Unrealized investment gains |  | Net derivative gains |  | Total
Beginning balance | $ | (71.3) |  |  | $ | (4.1) |  |  | $ | 9.7 |  |  |  |  | $ | 0.2 |  |  | $ | 36.0 |  |  | $ | (29.5) |
Other comprehensive income before reclassifications (A) | 6.3 |  |  | — |  |  | — |  |  |  |  | — |  |  | 2.1 |  |  | 8.4 |
Amounts reclassified from Accumulated other comprehensive loss (B) | — |  |  | — |  |  | 0.1 |  |  |  |  | — |  |  | (4.9) |  |  | (4.8) |
Net other comprehensive income (loss) | 6.3 |  |  | — |  |  | 0.1 |  |  |  |  | — |  |  | (2.8) |  |  | 3.6 |
Ending balance | $ | (65.0) |  |  | $ | (4.1) |  |  | $ | 9.8 |  |  |  |  | $ | 0.2 |  |  | $ | 33.2 |  |  | $ | (25.9) |
(A) The tax effects for the three months ended April 1, 2023 were $(0.1) million for foreign currency translation and $(1.0) million for derivatives. (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended April 1, 2023. The following table presents the changes in Accumulated other comprehensive loss by component, all net of tax, for the three months ended April 2, 2022:
(in millions) | Foreign currency translation |  | Prior service credits |  | Net actuarial losses |  | Unrealized investment gains |  | Net derivative gains |  | Total
Beginning balance | $ | (34.5) |  |  | $ | (3.7) |  |  | $ | (3.4) |  |  | $ | 0.2 |  |  | $ | 9.9 |  |  | $ | (31.5) |
Other comprehensive income before reclassifications (A) | 2.1 |  |  | — |  |  | — |  |  | — |  |  | 10.8 |  |  | 12.9 |
Amounts reclassified from Accumulated other comprehensive loss (B) | — |  |  | — |  |  | 0.2 |  |  | — |  |  | (3.2) |  |  | (3.0) |
Net other comprehensive income | 2.1 |  |  | — |  |  | 0.2 |  |  | — |  |  | 7.6 |  |  | 9.9 |
Ending balance | $ | (32.4) |  |  | $ | (3.7) |  |  | $ | (3.2) |  |  | $ | 0.2 |  |  | $ | 17.5 |  |  | $ | (21.6) |
(A) The tax effects for the three months ended April 2, 2022 were $1.6 million for foreign currency translation and $(3.5) million for derivatives. (B) See the table depicting reclassification adjustments out of Accumulated other comprehensive loss below for the tax effects for the three months ended April 2, 2022 The following table presents reclassification adjustments out of Accumulated other comprehensive loss during the three and three months ended April 1, 2023 and April 2, 2022:
|  | Three Months Ended |  |
Details about Accumulated other comprehensive (loss) income components (in millions) |  | April 1, 2023 |  | April 2, 2022 |  | Affected line item in the statement where net income is presented
Amortization of defined benefit items: |  |  |  |  |  |
Net actuarial losses |  | $ | (0.1) |  |  | $ | (0.2) |  |  | Other expense, net
|  | (0.1) |  |  | (0.2) |  |  | Earnings before income taxes
|  | — |  |  | — |  |  | Income tax provision
|  | $ | (0.1) |  |  | $ | (0.2) |  |  | Net earnings from continuing operations
Amount of (loss) gain reclassified into earnings on derivative contracts: |  |  |  |  |  |
Interest-rate contracts |  | $ | (0.1) |  |  | $ | — |  |  | Interest expense
Foreign exchange contracts |  | 7.5 |  |  | 2.7 |  |  | Cost of sales
Commodity contracts |  | (0.6) |  |  | 1.6 |  |  | Cost of sales
|  | 6.8 |  |  | 4.3 |  |  | Earnings before income taxes
|  | (1.9) |  |  | (1.1) |  |  | Income tax provision
|  | $ | 4.9 |  |  | $ | 3.2 |  |  | Net earnings from continuing operations

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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//1943274/2147483586/944-220-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
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