v3.25.2
ACCUMULATED OTHER COMPREHENSIVE INCOME
6 Months Ended
Jun. 27, 2025
Equity [Abstract]  
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)$(405.3)
Other comprehensive income before reclassifications:
Increase183.8 — 183.8 
Income tax impact(16.5)— (16.5)
Other comprehensive income before reclassifications, net of income tax expense167.3 — 167.3 
Amounts reclassified from AOCI into income:
Increase— 0.5 
(b)
0.5 
Income tax impact— (0.1)(0.1)
Amounts reclassified from AOCI into income, net of income tax expense — 0.4 0.4 
Net current period other comprehensive income167.3 0.4 167.7 
Balance, June 27, 2025$(221.4)$(16.2)$(237.6)
For the Three Months Ended June 28, 2024:
Balance, March 29, 2024$(384.6)$(14.6)$(399.2)
Other comprehensive loss before reclassifications:
Decrease(19.9)— (19.9)
Income tax impact(1.3)— (1.3)
Other comprehensive loss before reclassifications, net of income tax expense(21.2)— (21.2)
Amounts reclassified from AOCI into income:
Increase7.0 
(c)
0.1 
(b)
7.1 
Income tax impact— (0.1)(0.1)
Amounts reclassified from AOCI into income, net of income tax expense7.0 — 7.0 
Net current period other comprehensive loss(14.2)— (14.2)
Balance, June 28, 2024$(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)$(491.3)
Other comprehensive income before reclassifications:
Increase278.1 — 278.1 
Income tax impact(25.0)— (25.0)
Other comprehensive income before reclassifications, net of income tax expense253.1 — 253.1 
Amounts reclassified from AOCI into income:
Increase— 0.7 
(b)
0.7 
Income tax impact— (0.1)(0.1)
Amounts reclassified from AOCI into income, net of income tax expense— 0.6 0.6 
Net current period other comprehensive income253.1 0.6 253.7 
Balance, June 27, 2025$(221.4)$(16.2)$(237.6)
For the Six Months Ended June 28, 2024:
Balance, December 31, 2023$(338.4)$(14.8)$(353.2)
Other comprehensive loss before reclassifications:
Decrease(66.1)— (66.1)
Income tax impact(1.3)— (1.3)
Other comprehensive loss before reclassifications, net of income tax expense(67.4)— (67.4)
Amounts reclassified from AOCI into income:
Increase7.0 
(c)
0.3 
(b)
7.3 
Income tax impact— (0.1)(0.1)
Amounts reclassified from AOCI into income, net of income tax expense7.0 0.2 7.2 
Net current period other comprehensive (loss) income(60.4)0.2 (60.2)
Balance, June 28, 2024$(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.