Comprehensive Income (Tables)

3 Months Ended

Apr. 04, 2026

Note 9 – Comprehensive Income

Changes in the components of Comprehensive income, net of tax, for the three months ended April 4, 2026 and March 29, 2025 are as follows:


	Three Months Ended
(in millions)	April 4, 2026		March 29, 2025
Net earnings	$	21.0	$	20.2
Other comprehensive income (loss):
Foreign currency cumulative translation adjustments	(8.4)		25.4
Net change in unamortized prior service credits	(0.2)		(0.1)
Net change in unamortized actuarial losses	(0.1)		(0.2)

Net change in unrealized derivative gains (losses)	13.7		(12.4)
Total other comprehensive income	5.0		12.7
Comprehensive income	$	26.0	$	32.9

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended April 4, 2026:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial gains		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(24.6)	$	(8.4)	$	11.8	$	0.2	$	(1.7)	$	(22.7)
Other comprehensive income (loss) before reclassifications (A)	(8.4)		—		—		—		14.1		5.7
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)	—		(0.2)		(0.1)		—		(0.4)		(0.7)
Net other comprehensive income (loss)	(8.4)		(0.2)		(0.1)		—		13.7		5.0
Ending balance	$	(33.0)	$	(8.6)	$	11.7	$	0.2	$	12.0	$	(17.7)

(A) The tax effect for the three months ended April 4, 2026 was $0.4 million for foreign currency translation and $(4.7) million for derivatives.

(B) The tax effect for the three months ended April 4, 2026 was $0.3 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended April 4, 2026. Refer to Note 4 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended March 29, 2025:


(in millions)	Foreign currency translation		Prior service credits		Net actuarial gains		Unrealized investment gains		Net derivative gains		Total
Beginning balance	$	(96.9)	$	(7.9)	$	10.5	$	0.2	$	40.7	$	(53.4)
Other comprehensive income (loss) before reclassifications (A)	25.4		—		—		—		(10.7)		14.7
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)	—		(0.1)		(0.2)		—		(1.7)		(2.0)
Net other comprehensive income (loss)	25.4		(0.1)		(0.2)		—		(12.4)		12.7
Ending balance	$	(71.5)	$	(8.0)	$	10.3	$	0.2	$	28.3	$	(40.7)

(A) The tax effect for the three months ended March 29, 2025 was $(3.6) million for foreign currency translation and $3.5 million for derivatives.

(B) The tax effect for the three months ended March 29, 2025 was $0.5 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended March 29, 2025. Refer to Note 4 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.