v3.21.2
Equity (Tables)
 9 Months Ended
Oct. 01, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Loss
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 nine months ended October 1, 2021 and October 2, 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 CostForeign Currency Translation AdjustmentUnrealized Gain on Hedging ActivitiesTotal
(In thousands)
Balance at December 31, 2020$(112,783)$(360,977)$21,654 $(452,106)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment1,089 (124,824)(2,582)(126,317)
Gain on long-term intra-entity foreign currency transactions— 25,933 — 25,933 
Gain on net investment hedges— — 16,655 16,655 
Other comprehensive income (loss) before reclassifications1,089 (98,891)14,073 (83,729)
Amounts reclassified from Accumulated other comprehensive loss3,193 — — 3,193 
Net Other comprehensive income (loss) 4,282 (98,891)14,073 (80,536)
Balance at October 1, 2021$(108,501)$(459,868)$35,727 $(532,642)
Accumulated Other Comprehensive Loss Components
Net Unrecognized Pension and Other Post-Retirement Benefit CostForeign Currency Translation AdjustmentUnrealized Gain on Hedging ActivitiesTotal
(In thousands)
Balance at December 31, 2019$(106,500)$(421,889)$44,544 $(483,845)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment(389)(31,747)1,894 (30,242)
Loss on long-term intra-entity foreign currency transactions— (18,023)— (18,023)
Loss on net investment hedges— — (12,700)(12,700)
Other comprehensive income (loss) before reclassifications(389)(49,770)(10,806)(60,965)
Amounts reclassified from Accumulated other comprehensive loss2,814 — — 2,814 
Net Other comprehensive income (loss) 2,425 (49,770)(10,806)(58,151)
Balance at October 2, 2020$(104,075)$(471,659)$33,738 $(541,996)
Tangible Equity Units A portion of the proceeds from the issuance of the TEUs were allocated initially to equity (the “TEU prepaid stock purchase contracts”) 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.