ACCUMULATED OTHER COMPREHENSIVE INCOME |
NOTE 6. ACCUMULATED OTHER COMPREHENSIVE INCOME Foreign currency translation adjustments are generally not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. The changes in Accumulated Other Comprehensive Income (Loss) (“AOCI”) by component are summarized below: | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | | Pension & post-retirement plan benefit adjustments (a) | | Total | For the Three Months Ended June 27, 2025: | | | | | | Balance, March 28, 2025 | $ | (388.7) | | | $ | (16.6) | | | $ | (405.3) | | Other comprehensive income before reclassifications: | | | | | | Increase | 183.8 | | | — | | | 183.8 | | Income tax impact | (16.5) | | | — | | | (16.5) | | Other comprehensive income before reclassifications, net of income tax expense | 167.3 | | | — | | | 167.3 | | Amounts reclassified from AOCI into income: | | | | | | Increase | — | | | 0.5 | | (b) | 0.5 | | Income tax impact | — | | | (0.1) | | | (0.1) | | Amounts reclassified from AOCI into income, net of income tax expense | — | | | 0.4 | | | 0.4 | | Net current period other comprehensive income | 167.3 | | | 0.4 | | | 167.7 | | Balance, June 27, 2025 | $ | (221.4) | | | $ | (16.2) | | | $ | (237.6) | | | | | | | | For the Three Months Ended June 28, 2024: | | | | | | Balance, March 29, 2024 | $ | (384.6) | | | $ | (14.6) | | | $ | (399.2) | | Other comprehensive loss before reclassifications: | | | | | | Decrease | (19.9) | | | — | | | (19.9) | | Income tax impact | (1.3) | | | — | | | (1.3) | | Other comprehensive loss before reclassifications, net of income tax expense | (21.2) | | | — | | | (21.2) | | Amounts reclassified from AOCI into income: | | | | | | Increase | 7.0 | | (c) | 0.1 | | (b) | 7.1 | | Income tax impact | — | | | (0.1) | | | (0.1) | | Amounts reclassified from AOCI into income, net of income tax expense | 7.0 | | | — | | | 7.0 | | Net current period other comprehensive loss | (14.2) | | | — | | | (14.2) | | Balance, June 28, 2024 | $ | (398.8) | | | $ | (14.6) | | | $ | (413.4) | | | | | | | | (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. | | (b) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 9 in the Company’s Notes to the Combined Financial Statements included in the Company’s Information Statement filed as an exhibit to the Company’s Form 10-12B/A on May 28, 2025 for additional details). | (c) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 2 for additional details. | |
| | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments | | Pension & post-retirement plan benefit adjustments (a) | | Total | For the Six Months Ended June 27, 2025: | | | | | | Balance, December 31, 2024 | $ | (474.5) | | | $ | (16.8) | | | $ | (491.3) | | Other comprehensive income before reclassifications: | | | | | | Increase | 278.1 | | | — | | | 278.1 | | Income tax impact | (25.0) | | | — | | | (25.0) | | Other comprehensive income before reclassifications, net of income tax expense | 253.1 | | | — | | | 253.1 | | Amounts reclassified from AOCI into income: | | | | | | Increase | — | | | 0.7 | | (b) | 0.7 | | Income tax impact | — | | | (0.1) | | | (0.1) | | Amounts reclassified from AOCI into income, net of income tax expense | — | | | 0.6 | | | 0.6 | | Net current period other comprehensive income | 253.1 | | | 0.6 | | | 253.7 | | Balance, June 27, 2025 | $ | (221.4) | | | $ | (16.2) | | | $ | (237.6) | | | | | | | | For the Six Months Ended June 28, 2024: | | | | | | Balance, December 31, 2023 | $ | (338.4) | | | $ | (14.8) | | | $ | (353.2) | | Other comprehensive loss before reclassifications: | | | | | | Decrease | (66.1) | | | — | | | (66.1) | | Income tax impact | (1.3) | | | — | | | (1.3) | | Other comprehensive loss before reclassifications, net of income tax expense | (67.4) | | | — | | | (67.4) | | Amounts reclassified from AOCI into income: | | | | | | Increase | 7.0 | | (c) | 0.3 | | (b) | 7.3 | | Income tax impact | — | | | (0.1) | | | (0.1) | | Amounts reclassified from AOCI into income, net of income tax expense | 7.0 | | | 0.2 | | | 7.2 | | Net current period other comprehensive (loss) income | (60.4) | | | 0.2 | | | (60.2) | | Balance, June 28, 2024 | $ | (398.8) | | | $ | (14.6) | | | $ | (413.4) | | | | | | | | (a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans. | | (b) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 9 in the Company’s Notes to the Combined Financial Statements included in the Company’s Information Statement filed as an exhibit to the Company’s Form 10-12B/A on May 28, 2025 for additional details). | (c) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 2 for additional details. | |
|