Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Apr. 01, 2023

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

Schedule of Accumulated Other Comprehensive Loss

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 December 31, 2022	$	(228,803)	$	8,709	$	(437,353)	$	145,439	$	(512,008)
Amounts reclassified from accumulated other comprehensive loss	—		(4,974)		4,077		1,243		346
Current-period other comprehensive loss activity	(9,056)		(17,611)		(12)		(181)		(26,860)
Total other comprehensive income (loss)	(9,056)		(22,585)		4,065		1,062		(26,514)

Balance at April 1, 2023	$	(237,859)	$	(13,876)	$	(433,288)	$	146,501	$	(538,522)

(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.


	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)

(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.

Schedule of Reclassifications out of Accumulated Other Comprehensive Loss

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 1, 2023		April 2, 2022
Write-off of cumulative translation associated with sale of business	Income from discontinued operations, net of tax	$	—	$	13,473

Gain (loss) on forward foreign exchange contracts designated as cash flow hedges	Cost of sales	3,410		1,612
	Income tax	(1,123)		(508)
	Income from discontinued operations, net of tax	—		(232)
	Net of tax	2,287		872

Gain on interest rate contracts designated as cash flow hedges	Interest expense, net	10		—
	Income tax	—		—
	Net of tax	10		—

Gain (loss) on cross-currency swap contracts designated as cash flow hedges	Selling, general and administrative expenses	973		(9,733)
	Interest expense, net	581		(1,361)
	Income tax	—		1,886
	Net of tax	1,554		(9,208)

Amortization of deferred actuarial loss and prior service cost	Other expenses	(4,077)		(5,203)
	Income tax	(120)		1,370
Pension activity associated with sale of business	Income from discontinued operations, net of tax	—		(460)
	Net of tax	(4,197)		(4,293)

Total reclassifications		$	(346)	$	844