Comprehensive Income (Tables) |
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Comprehensive Income (Loss) | Note 10 – Comprehensive Income Accumulated other comprehensive loss, net of tax, in the Condensed Consolidated Balance Sheets includes foreign currency cumulative translation adjustments; prior service costs and credits and net actuarial gains and losses for defined benefit plans; and unrealized derivative gains and losses. Changes in the components of Accumulated other comprehensive loss, net of tax, for the three and six months ended June 28, 2025 and June 29, 2024 are as follows:
The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended June 28, 2025:
(A) The tax effects for the three months ended June 28, 2025 were $(8.2) million for foreign currency translation and $11.4 million for derivatives. (B) The tax effects for the three months ended June 28, 2025 were $0.4 million for derivatives. (C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended June 28, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives. The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the six months ended June 28, 2025:
(A) The tax effects for the six months ended June 28, 2025 were $(11.8) million for foreign currency translation and $14.9 million for derivatives. (B) The tax effects for the six months ended June 28, 2025 were $0.9 million for derivatives. (C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the six months ended June 28, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives. The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended June 29, 2024:
(A) The tax effects for the three months ended June 29, 2024 were $1.3 million for foreign currency translation and $0.6 million for derivatives. (B) The tax effects for the three months ended June 29, 2024 were $0.7 million for derivatives. (C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended June 29, 2024. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives. The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the six months ended June 29, 2024:
(A) The tax effects for the six months ended June 29, 2024 were $4.3 million for foreign currency translation and $(3.1) million for derivatives. (B) The tax effects for the six months ended June 29, 2024 were $1.1 million for derivatives. (C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the six months ended June 29, 2024. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives
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