v3.25.2
Equity (Tables)
6 Months Ended
Jul. 04, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Loss
The following tables present the changes in the balances of each component of AOCL including reclassifications out of AOCL for the six months ended July 4, 2025 and June 28, 2024. 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 AdjustmentNet Investment HedgesCash Flow HedgesTotal
(In thousands)
Balance at December 31, 2024
$(50,352)$(679,791)$(1,247)$1,816 $(729,574)
Other comprehensive (loss) income before reclassifications:
Net actuarial loss48 — — — 48 
Foreign currency translation adjustment(421)94,613 (15,371)— 78,821 
Gain on long-term intra-entity foreign currency transactions— 391 — — 391 
Unrealized gain on cash flow hedges— — — 16 16 
Other comprehensive (loss) income before reclassifications(373)95,004 (15,371)16 79,276 
Amounts reclassified from Accumulated other comprehensive loss(1)(2)
273 — — (1,832)(1,559)
Net current period Other comprehensive (loss) income(100)95,004 (15,371)(1,816)77,717 
Balance at April 4, 2025
(50,452)(584,787)(16,618)— (651,857)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment(431)117,446 (25,027)— 91,988 
Gain on long-term intra-entity foreign currency transactions— 9,968 — — 9,968 
Other comprehensive (loss) income before reclassifications(431)127,414 (25,027)— 101,956 
Amounts reclassified from Accumulated other comprehensive loss(1)(2)
202 — — — 202 
Net current period Other comprehensive (loss) income(229)127,414 (25,027)— 102,158 
Balance at July 4, 2025
$(50,681)$(457,373)$(41,645)$— $(549,699)
(1) The amounts on this line within the Net Unrecognized Pension and Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.
(2) The amount within the Cash Flow Hedges column is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.
Accumulated Other Comprehensive Loss Components
Net Unrecognized Pension and Other Post-Retirement Benefit CostForeign Currency Translation AdjustmentNet Investment HedgesCash Flow HedgesTotal
(In thousands)
Balance at December 31, 2023
$(59,805)$(554,622)$(17,215)$7,370 $(624,272)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment243 (38,265)4,995 — (33,027)
Gain on long-term intra-entity foreign currency transactions— 7,996 — — 7,996 
Unrealized gain on cash flow hedges— — — 3,920 3,920 
Other comprehensive income (loss) before reclassifications243 (30,269)4,995 3,920 (21,111)
Amounts reclassified from Accumulated other comprehensive loss(1)(2)
629 — — (2,907)(2,278)
Net current period Other comprehensive income (loss)872 (30,269)4,995 1,013 (23,389)
Balance at March 29, 2024
(58,933)(584,891)(12,220)8,383 (647,661)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment(23,042)686 — (22,350)
Gain on long-term intra-entity foreign currency transactions— 8,162 — — 8,162 
Unrealized gain on cash flow hedges— — — 811 811 
Other comprehensive income (loss) before reclassifications(14,880)686 811 (13,377)
Amounts reclassified from Accumulated other comprehensive loss(1)(2)
327 — — (2,662)(2,335)
Net current period Other comprehensive income (loss)333 (14,880)686 (1,851)(15,712)
Balance at June 28, 2024
$(58,600)$(599,771)$(11,534)$6,532 $(663,373)
(1) The amounts on this line within the Net Unrecognized Pension and Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.
(2) The amount within the Cash Flow Hedges column is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.