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)