9. Accumulated Other Comprehensive Income (Loss) Total accumulated other comprehensive income (loss) consists of net income (loss) and other changes in business equity from transactions and other events from sources other than stockholders. It includes currency translation gains and losses, unrealized 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) income for the twenty-six and thirteen weeks ended June 28, 2025, and June 29, 2024, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
Foreign
Currency
Adjustments |
|
|
Derivative
Hedging
Gain (Loss) |
|
|
Defined
Benefit
Plan
Adjustments |
|
|
Accumulated
Other
Comprehensive
Loss |
|
Balance at December 30, 2023 |
|
$ |
5.3 |
|
|
$ |
86.0 |
|
|
$ |
(28.0 |
) |
|
$ |
63.3 |
|
Amounts classified into accumulated other
comprehensive (loss) income |
|
|
(16.8 |
) |
|
|
1.7 |
|
|
|
(0.1 |
) |
|
|
(15.2 |
) |
Amounts reclassified from accumulated other
comprehensive (loss) income |
|
|
- |
|
|
|
(5.1 |
) |
|
|
- |
|
|
|
(5.1 |
) |
Net current-period other comprehensive (loss) income |
|
|
(16.8 |
) |
|
|
(3.4 |
) |
|
|
(0.1 |
) |
|
|
(20.3 |
) |
Balance at June 29, 2024 |
|
$ |
(11.5 |
) |
|
$ |
82.6 |
|
|
$ |
(28.1 |
) |
|
$ |
43.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 28, 2024 |
|
$ |
(25.6 |
) |
|
$ |
78.1 |
|
|
$ |
(10.1 |
) |
|
$ |
42.4 |
|
Amounts classified into accumulated other
comprehensive (loss) income |
|
|
31.9 |
|
|
|
1.2 |
|
|
|
1.1 |
|
|
|
34.2 |
|
Amounts reclassified from accumulated other
comprehensive (loss) income |
|
|
- |
|
|
|
(6.3 |
) |
|
|
- |
|
|
|
(6.3 |
) |
Net current-period other comprehensive (loss) income |
|
|
31.9 |
|
|
|
(5.1 |
) |
|
|
1.1 |
|
|
|
27.9 |
|
Balance at June 28, 2025 |
|
$ |
6.3 |
|
|
$ |
73.0 |
|
|
$ |
(9.0 |
) |
|
$ |
70.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
|
Foreign
Currency
Adjustments |
|
|
Derivative
Hedging
Gain (Loss) |
|
|
Defined
Benefit
Plan
Adjustments |
|
|
Accumulated
Other
Comprehensive
Loss |
|
Balance at March 30, 2024 |
|
$ |
(5.0 |
) |
|
$ |
84.5 |
|
|
$ |
(28.2 |
) |
|
$ |
51.3 |
|
Amounts classified into accumulated other
comprehensive (loss) income |
|
|
(6.5 |
) |
|
|
0.7 |
|
|
|
0.1 |
|
|
|
(5.7 |
) |
Amounts reclassified from accumulated other
comprehensive (loss) income |
|
|
- |
|
|
|
(2.6 |
) |
|
|
- |
|
|
|
(2.6 |
) |
Net current-period other comprehensive (loss) income |
|
|
(6.5 |
) |
|
|
(1.9 |
) |
|
|
0.1 |
|
|
|
(8.3 |
) |
Balance at June 29, 2024 |
|
$ |
(11.5 |
) |
|
$ |
82.6 |
|
|
$ |
(28.1 |
) |
|
$ |
43.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at March 29, 2025 |
|
$ |
(17.2 |
) |
|
$ |
75.1 |
|
|
$ |
(9.2 |
) |
|
$ |
48.7 |
|
Amounts classified into accumulated other
comprehensive (loss) income |
|
|
23.5 |
|
|
|
1.4 |
|
|
|
0.2 |
|
|
|
25.1 |
|
Amounts reclassified from accumulated other
comprehensive (loss) income |
|
|
- |
|
|
|
(3.5 |
) |
|
|
- |
|
|
|
(3.5 |
) |
Net current-period other comprehensive (loss) income |
|
|
23.5 |
|
|
|
(2.1 |
) |
|
|
0.2 |
|
|
|
21.6 |
|
Balance at June 28, 2025 |
|
$ |
6.3 |
|
|
$ |
73.0 |
|
|
$ |
(9.0 |
) |
|
$ |
70.3 |
|
The reclassifications out of accumulated other comprehensive loss for the twenty-six and thirteen weeks ended June 28, 2025, and June 29, 2024, were as follows:
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|
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|
|
(In millions) |
Details about Accumulated Other
Comprehensive Loss Components |
|
Amount Reclassified from
Accumulated Other Comprehensive Loss |
|
|
Affected Line Item in
the Statement of
Comprehensive Income |
|
|
Twenty-Six Weeks Ended June 28, 2025 |
|
|
Twenty-Six Weeks Ended June 29, 2024 |
|
|
|
Gains (losses) on cash flow hedges |
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
$ |
- |
|
|
$ |
0.4 |
|
|
Cost of products sold |
Interest rate contracts |
|
|
6.3 |
|
|
|
6.3 |
|
|
Interest expense |
Total before tax |
|
|
6.3 |
|
|
|
6.7 |
|
|
|
Tax expense |
|
|
- |
|
|
|
(1.6 |
) |
|
|
Total reclassifications for the period |
|
$ |
6.3 |
|
|
$ |
5.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In millions) |
Details about Accumulated Other
Comprehensive Loss Components |
|
Amount Reclassified from
Accumulated Other Comprehensive Loss |
|
|
Affected Line Item in
the Statement of
Comprehensive Income |
|
|
Thirteen Weeks Ended June 28, 2025 |
|
|
Thirteen Weeks Ended June 29, 2024 |
|
|
|
Gains (losses) on cash flow hedges |
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
$ |
0.4 |
|
|
$ |
0.3 |
|
|
Cost of products sold |
Interest rate contracts |
|
|
3.2 |
|
|
|
3.1 |
|
|
Interest expense |
Total before tax |
|
|
3.6 |
|
|
|
3.4 |
|
|
|
Tax expense |
|
|
(0.1 |
) |
|
|
(0.8 |
) |
|
|
Total reclassifications for the period |
|
$ |
3.5 |
|
|
$ |
2.6 |
|
|
|
|