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Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss Total accumulated other comprehensive loss consists of net income and other changes in business equity from transactions and other events from sources other than stockholders. It includes currency translation gains and losses, realized gains and losses from derivative instruments designated as cash flow hedges, and defined benefit plan adjustments. The after-tax components of and changes in accumulated other comprehensive loss were as follows:
(U.S. Dollars presented in millions) |  | Foreign Currency Adjustments |  | Derivative Hedging Gain (Loss) |  | Pension and Other Postretirement Plans Adjustments |  | Accumulated Other Comprehensive (Loss) Income
Balance at December 27, 2020 |  | $ | 2.8 |  |  | $ | 2.5 |  |  | $ | (13.0) |  |  | $ | (7.7) |
Amounts classified into accumulated other comprehensive (loss) income . |  | (0.9) |  |  | 0.5 |  |  | 7.1 |  |  | 6.7 |
Amounts reclassified into earnings |  | — |  |  | (2.9) |  |  | — |  |  | (2.9) |
Net current period other comprehensive (loss) income |  | (0.9) |  |  | (2.4) |  |  | 7.1 |  |  | 3.8 |
Balance at December 26, 2021 |  | $ | 1.9 |  |  | $ | 0.1 |  |  | $ | (5.9) |  |  | $ | (3.9) |
Amounts classified into accumulated other comprehensive (loss) income |  | (9.9) |  |  | 7.2 |  |  | (4.5) |  |  | (7.2) |
Amounts reclassified into earnings |  | — |  |  | (4.5) |  |  | 1.1 |  |  | (3.4) |
Net current period other comprehensive (loss) income |  | (9.9) |  |  | 2.7 |  |  | (3.4) |  |  | (10.6) |
Balance at December 25, 2022 |  | $ | (8.0) |  |  | $ | 2.8 |  |  | $ | (9.3) |  |  | $ | (14.5) |
Amounts classified into accumulated other comprehensive (loss) income. |  | 12.1 |  |  | 9.6 |  |  | (3.1) |  |  | 18.6 |
Amounts reclassified into earnings |  | — |  |  | (10.2) |  |  | 2.4 |  |  | (7.8) |
Net current period other comprehensive (loss) income |  | 12.1 |  |  | (0.6) |  |  | (0.7) |  |  | 10.8 |
Balance at December 31, 2023 |  | $ | 4.1 |  |  | $ | 2.2 |  |  | $ | (10.0) |  |  | $ | (3.7) |
The amounts recorded in accumulated other comprehensive loss for the years ended December 31, 2023, December 25, 2022, and December 26, 2021 were as follows:
(U.S. Dollars presented in millions) |  |
Details about Accumulated Other Comprehensive Loss Components |  | 2023 |  | 2022 |  | 2021 |  |
Foreign currency translation adjustments |  | $ | 12.1 |  |  | $ | (9.9) |  |  | $ | (0.9) |  |  |
|  | — |  |  | — |  |  | — |  |  | Tax expense
|  | $ | 12.1 |  |  | $ | (9.9) |  |  | $ | (0.9) |  |  | Net of tax
Cash flow hedges |  |  |  |  |  |  |  |
Unrealized holding gains arising during period |  | $ | 9.6 |  |  | $ | 7.2 |  |  | $ | 0.5 |  |  |
|  | — |  |  | — |  |  | — |  |  | Tax expense
|  | $ | 9.6 |  |  | $ | 7.2 |  |  | $ | 0.5 |  |  | Net of tax
Pension and Other Postretirement Plans items |  |  |  |  |  |  |  |
Net actuarial (losses) gains arising during period |  | $ | (4.1) |  |  | $ | (6.1) |  |  | $ | 9.4 |  |  |
|  | 1.0 |  |  | 1.6 |  |  | (2.3) |  |  | Tax benefit (expense)
|  | $ | (3.1) |  |  | $ | (4.5) |  |  | $ | 7.1 |  |  | Net of tax
Total amounts recorded in accumulated other comprehensive loss for the period |  | $ | 18.6 |  |  | $ | (7.2) |  |  | $ | 6.7 |  |  | Net of tax
The reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2023, December 25, 2022, and December 26, 2021 were as follows:
(U.S. Dollars presented in millions) |  |
Details about Accumulated Other Comprehensive Loss Components |  | 2023 |  | 2022 |  | 2021 |  | Affected Line Item in the Consolidated Statements of Income
Cash flow hedges |  |  |  |  |  |  |  |
Reclassification adjustment for gains included in net income |  | $ | (10.2) |  |  | $ | (4.5) |  |  | $ | (2.9) |  |  | Cost of products sold
|  | — |  |  | — |  |  | — |  |  | Tax expense
|  | $ | (10.2) |  |  | $ | (4.5) |  |  | $ | (2.9) |  |  | Net of tax
Pension and Other Postretirement Plans items |  |  |  |  |  |  |  |
Amortization of net actuarial loss and curtailment |  | $ | 3.2 |  |  | $ | 1.7 |  |  | $ | — |  |  | Other expense, net
|  | (0.8) |  |  | (0.6) |  |  | — |  |  | Tax benefit
|  | $ | 2.4 |  |  | $ | 1.1 |  |  | $ | — |  |  | Net of tax
Total reclassifications for the period |  | $ | (7.8) |  |  | $ | (3.4) |  |  | $ | (2.9) |  |  | Net of tax

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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