Equity (Tables)

3 Months Ended

Apr. 02, 2021

The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the three months ended April 2, 2021 and April 3, 2020. All amounts are net of tax and noncontrolling interest, if any.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Unrealized Gain on Hedging Activities		Total
	(In thousands)

Balance at January 1, 2021	$	(112,783)	$	(360,977)	$	21,654	$	(452,106)

Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment	709		(82,663)		(2,201)		(84,155)
Gain on long-term intra-entity foreign currency transactions	—		31,098		—		31,098
Gain on net investment hedges	—		—		12,381		12,381


Other comprehensive income (loss) before reclassifications	709		(51,565)		10,180		(40,676)
Amounts reclassified from Accumulated other comprehensive loss	1,055		—		—		1,055

Net Other comprehensive income (loss)	1,764		(51,565)		10,180		(39,621)
Balance at April 2, 2021	$	(111,019)	$	(412,542)	$	31,834	$	(491,727)


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Unrealized Gain on Hedging Activities		Total
	(In thousands)
Balance at January 1, 2020	$	(106,500)	$	(421,889)	$	44,544	$	(483,845)

Other comprehensive income (loss) before reclassifications:

Foreign currency translation adjustment	1,672		(170,679)		(1,310)		(170,317)
Loss on long-term intra-entity foreign currency transactions	—		(1,027)		—		(1,027)
Gain on net investment hedges	—		—		12,180		12,180


Other comprehensive income (loss) before reclassifications	1,672		(171,706)		10,870		(159,164)
Amounts reclassified from Accumulated other comprehensive loss	867		—		—		867

Net Other comprehensive income (loss)	2,539		(171,706)		10,870		(158,297)
Balance at April 3, 2020	$	(103,961)	$	(593,595)	$	55,414	$	(642,142)

Tangible Equity Units

A portion of the proceeds from the issuance of the TEUs were allocated initially to equity (the “TEU prepaid stock purchase contract”) and debt (the “TEU amortizing notes”) based on the relative fair value of the respective components of each TEU. See Note 10, “Debt ” for further information regarding the TEU amortizing notes.