Accumulated Other Comprehensive Loss

3 Months Ended

Apr. 02, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

The components of accumulated other comprehensive loss (“AOCI”) are as follows:


	Cumulative Translation Adjustment(1)		Cash Flow Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at January 1, 2022	$	(134,001)	$	5,244	$	(569,161)	$	146,315	$	(551,603)
Amounts reclassified from accumulated other comprehensive loss	(13,473)		9,789		5,618		(2,778)		(844)
Current-period other comprehensive income (loss) activity	40,770		(7,404)		(40)		2,430		35,756
Total other comprehensive income (loss)	27,297		2,385		5,578		(348)		34,912

Balance at April 2, 2022	$	(106,704)	$	7,629	$	(563,583)	$	145,967	$	(516,691)


	Cumulative Translation Adjustment(1)		Cash Flow Hedges		Defined Benefit Plans		Income Taxes		Accumulated Other Comprehensive Loss
Balance at January 2, 2021	$	(52,820)	$	(26,538)	$	(668,730)	$	181,129	$	(566,959)
Amounts reclassified from accumulated other comprehensive loss	—		5,242		7,085		(3,004)		9,323
Current-period other comprehensive income (loss) activity	(25,201)		8,474		1,699		(4,221)		(19,249)
Total other comprehensive income (loss)	(25,201)		13,716		8,784		(7,225)		(9,926)

Balance at April 3, 2021	$	(78,021)	$	(12,822)	$	(659,946)	$	173,904	$	(576,885)

(1)Cumulative Translation Adjustment includes translation adjustments and net investment hedges. See Note “Financial Instruments and Risk Management” for additional disclosures about net investment hedges.

The Company had the following reclassifications out of AOCI:


Component of AOCI	Location of Reclassification into Income	Amount of Reclassification from AOCI
		Quarters Ended
		April 2, 2022		April 3, 2021
Write-off of cumulative translation associated with sale of business	Income (loss) from discontinued operations, net of tax	$	13,473	$	—

Gain (loss) on forward foreign exchange contracts designated as cash flow hedges	Cost of sales	$	1,612	$	(4,377)
	Income tax	(508)		1,208
	Income (loss) from discontinued operations, net of tax	(232)		(244)
	Net of tax	872		(3,413)

Gain (loss) on cross-currency swap contracts designated as cash flow hedges	Selling, general and administrative expenses	(9,733)		(557)
	Interest expense, net	(1,361)		—
	Income tax	1,886		89
	Net of tax	(9,208)		(468)

Amortization of deferred actuarial loss and prior service cost	Other expenses	(5,203)		(7,707)
	Income tax	1,370		1,746
	Income (loss) from discontinued operations, net of tax	—		519
Pension activity associated with sale of business	Income (loss) from discontinued operations, net of tax	(460)		—
	Net of tax	(4,293)		(5,442)

Total reclassifications		$	844	$	(9,323)