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Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Loss | Changes in Accumulated other comprehensive loss were as follows (in thousands):
| Three months ended June 30, 2023
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (70,150) |  |  |  |  | $ | (32,322) |  |  | $ | (252,180) |  |  | $ | (354,652) |
Other comprehensive (loss) income, before reclassifications | (23,296) |  |  |  |  | 25,694 |  |  | — |  |  | 2,398 |
Income tax benefit (expense) | 3,659 |  |  |  |  | (6,027) |  |  | — |  |  | (2,368) |
| (19,637) |  |  |  |  | 19,667 |  |  | — |  |  | 30 |
Reclassifications: |  |  |  |  |  |  |  |  |
Net gain on derivative financial instruments | — |  |  |  |  | (703) |  |  | — |  |  | (703) |
Prior service credits(a) | — |  |  |  |  | — |  |  | 22 |  |  | 22 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (1,278) |  |  | (1,278) |
Reclassifications before tax | — |  |  |  |  | (703) |  |  | (1,256) |  |  | (1,959) |
Income tax benefit | — |  |  |  |  | 162 |  |  | 295 |  |  | 457 |
| — |  |  |  |  | (541) |  |  | (961) |  |  | (1,502) |
Other comprehensive (loss) income | (19,637) |  |  |  |  | 19,126 |  |  | (961) |  |  | (1,472) |
Balance, end of period | $ | (89,787) |  |  |  |  | $ | (13,196) |  |  | $ | (253,141) |  |  | $ | (356,124) |
| Three months ended June 26, 2022
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (48,522) |  |  |  |  | $ | 7,923 |  |  | $ | (189,011) |  |  | $ | (229,610) |
Other comprehensive loss, before reclassifications | (31,600) |  |  |  |  | (53,909) |  |  | — |  |  | (85,509) |
Income tax benefit | 579 |  |  |  |  | 11,731 |  |  | — |  |  | 12,310 |
| (31,021) |  |  |  |  | (42,178) |  |  | — |  |  | (73,199) |
Reclassifications: |  |  |  |  |  |  |  |  |
Net loss on derivative financial instruments | — |  |  |  |  | 70,702 |  |  | — |  |  | 70,702 |
Prior service credits(a) | — |  |  |  |  | — |  |  | (909) |  |  | (909) |
Actuarial losses(a) | — |  |  |  |  | — |  |  | 8,100 |  |  | 8,100 |
Reclassifications before tax | — |  |  |  |  | 70,702 |  |  | 7,191 |  |  | 77,893 |
Income tax expense | — |  |  |  |  | (15,672) |  |  | (1,688) |  |  | (17,360) |
| — |  |  |  |  | 55,030 |  |  | 5,503 |  |  | 60,533 |
Other comprehensive (loss) income | (31,021) |  |  |  |  | 12,852 |  |  | 5,503 |  |  | (12,666) |
Balance, end of period | $ | (79,543) |  |  |  |  | $ | 20,775 |  |  | $ | (183,508) |  |  | $ | (242,276) |
(a) Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 13.
| Six months ended June 30, 2023
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (80,271) |  |  |  |  | $ | (10,440) |  |  | $ | (251,218) |  |  | $ | (341,929) |
Other comprehensive (loss) income, before reclassifications | (12,320) |  |  |  |  | 24,454 |  |  | — |  |  | 12,134 |
Income tax benefit (expense) | 2,804 |  |  |  |  | (5,654) |  |  | — |  |  | (2,850) |
| (9,516) |  |  |  |  | 18,800 |  |  | — |  |  | 9,284 |
Reclassifications: |  |  |  |  |  |  |  |  |
Net gain on derivative financial instruments | — |  |  |  |  | (28,168) |  |  | — |  |  | (28,168) |
Prior service credits(a) | — |  |  |  |  | — |  |  | 44 |  |  | 44 |
Actuarial gains(a) | — |  |  |  |  | — |  |  | (2,556) |  |  | (2,556) |
Reclassifications before tax | — |  |  |  |  | (28,168) |  |  | (2,512) |  |  | (30,680) |
Income tax benefit | — |  |  |  |  | 6,612 |  |  | 589 |  |  | 7,201 |
| — |  |  |  |  | (21,556) |  |  | (1,923) |  |  | (23,479) |
Other comprehensive loss | (9,516) |  |  |  |  | (2,756) |  |  | (1,923) |  |  | (14,195) |
Balance, end of period | $ | (89,787) |  |  |  |  | $ | (13,196) |  |  | $ | (253,141) |  |  | $ | (356,124) |
| Six months ended June 26, 2022
| Foreign currency translation adjustments |  |  |  | Derivative financial instruments |  | Pension and postretirement benefit plans |  | Total
Balance, beginning of period | $ | (44,401) |  |  |  |  | $ | (2,005) |  |  | $ | (194,513) |  |  | $ | (240,919) |
Other comprehensive loss, before reclassifications | (35,404) |  |  |  |  | (61,139) |  |  | — |  |  | (96,543) |
Income tax benefit | 262 |  |  |  |  | 13,224 |  |  | — |  |  | 13,486 |
| (35,142) |  |  |  |  | (47,915) |  |  | — |  |  | (83,057) |
Reclassifications: |  |  |  |  |  |  |  |  |
Net loss on derivative financial instruments | — |  |  |  |  | 90,748 |  |  | — |  |  | 90,748 |
Prior service credits(a) | — |  |  |  |  | — |  |  | (1,818) |  |  | (1,818) |
Actuarial losses(a) | — |  |  |  |  | — |  |  | 16,200 |  |  | 16,200 |
Reclassifications before tax | — |  |  |  |  | 90,748 |  |  | 14,382 |  |  | 105,130 |
Income tax expense | — |  |  |  |  | (20,053) |  |  | (3,377) |  |  | (23,430) |
| — |  |  |  |  | 70,695 |  |  | 11,005 |  |  | 81,700 |
Other comprehensive (loss) income | (35,142) |  |  |  |  | 22,780 |  |  | 11,005 |  |  | (1,357) |
Balance, end of period | $ | (79,543) |  |  |  |  | $ | 20,775 |  |  | $ | (183,508) |  |  | $ | (242,276) |
(a)Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15

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