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Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 29, 2024

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): 

			Changes in Accumulated Other Comprehensive Loss by Component (1)
			Cash Flow Hedges						Foreign Currency Translation Adjustment						Retirement Benefit Adjustment						Total
			Quarter ended March 29, 2024
Balance at December 29, 2023			$	3.8					$	(37.1)					$	(10.0)					$	(43.3)
Other comprehensive income (loss)     before reclassifications			6.5			(3)			(4.6)			(2)			(1.0)						0.9
Amounts reclassified from accumulated     other comprehensive loss			(0.7)						—						0.4						(0.3)
Net current period other comprehensive     income (loss)			5.8						(4.6)						(0.6)						0.6
Balance at March 29, 2024			$	9.6					$	(41.7)					$	(10.6)					$	(42.7)
			Quarter ended March 31, 2023
Balance at December 30, 2022			$	6.0					$	(36.0)					$	(11.5)					$	(41.5)
Other comprehensive income (loss)     before reclassifications			(0.4)			(3)			2.0			(2)			(0.5)						1.1
Amounts reclassified from accumulated     other comprehensive loss			0.4						—						0.1						0.5
Net current period other comprehensive     income (loss)			—						2.0						(0.4)						1.6
Balance at March 31, 2023			$	6.0					$	(34.0)					$	(11.9)					$	(39.9)

(1) All amounts are net of tax and noncontrolling interest.

(2) Includes a loss of $2.8 million and a gain of $0.8 million for the quarter ended March 29, 2024 and quarter ended March 31, 2023, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature.

(3) Includes a tax effect of $0.1 million and $1.5 million for the quarter ended March 29, 2024 and quarter ended March 31, 2023, respectively.

The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): 

												Amount of (gain) loss reclassified from accumulated other comprehensive loss
												March 29, 2024												March 31, 2023
Details about accumulated other comprehensive loss components												Quarter ended												Quarter ended						Affected line item in the statement where net income is presented
Cash flow hedges:
Designated as hedging instruments:
Foreign currency cash flow hedges												$	(0.3)											$	(0.1)					Net sales
Foreign currency cash flow hedges												2.1												2.2						Cost of products sold
Interest rate swaps												(2.6)												(1.7)						Interest expense
Total												$	(0.8)											$	0.4
Amortization of retirement benefits:
Actuarial losses												0.2												0.1						Other expense, net
Curtailment and settlement losses												0.3												—						Asset impairment and other charges, net
Total												$	0.5											$	0.1

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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

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X

- References

No definition available.

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