XML 43 R29.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
--- | ---
Mar. 30, 2024
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 30, 2023 | $ | (213,482) |  |  | $ | (5,967) |  |  | $ | (419,835) |  |  | $ | 146,973 |  |  | $ | (492,311) |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | (4,639) |  |  | 3,929 |  |  | 1,032 |  |  | 322 |
Current-period other comprehensive income (loss) activity | (58,020) |  |  | 15,774 |  |  | 82 |  |  | (1,720) |  |  | (43,884) |
Total other comprehensive income (loss) | (58,020) |  |  | 11,135 |  |  | 4,011 |  |  | (688) |  |  | (43,562) |
Balance at March 30, 2024 | $ | (271,502) |  |  | $ | 5,168 |  |  | $ | (415,824) |  |  | $ | 146,285 |  |  | $ | (535,873) |
| 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.
Schedule of Reclassifications out of Accumulated Other Comprehensive Loss | The Company had the following reclassifications out of AOCI:
Component of AOCI |  | Location of Reclassification from AOCI |  | Amount of Reclassification from AOCI into Net Income (Loss)
| Quarters Ended
| March 30, 2024 |  | April 1, 2023
Gain on forward foreign exchange contracts designated as cash flow hedges |  | Cost of sales |  | $ | 2,543 |  |  | $ | 3,410 |
|  | Income tax |  | (794) |  |  | (1,123) |
|  | Net of tax |  | 1,749 |  |  | 2,287 |
Gain on interest rate contracts designated as cash flow hedges |  | Interest expense, net |  | 2,096 |  |  | 10 |
|  | Income tax |  | — |  |  | — |
|  | Net of tax |  | 2,096 |  |  | 10 |
Gain on cross-currency swap contracts designated as cash flow hedges |  | Selling, general and administrative expenses |  | — |  |  | 973 |
|  | Interest expense, net |  | — |  |  | 581 |
|  | Income tax |  | — |  |  | — |
|  | Net of tax |  | — |  |  | 1,554 |
Amortization of deferred actuarial loss and prior service cost |  | Other expenses |  | (3,929) |  |  | (4,077) |
|  | Income tax |  | (238) |  |  | (120) |
|  | Net of tax |  | (4,167) |  |  | (4,197) |
Total reclassifications |  |  |  | $ | (322) |  |  | $ | (346) |

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration