v3.26.1
Supplemental Equity and Comprehensive Income Information (Tables)
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Consolidated Changes in Shareholders' Equity
Consolidated Changes in Shareholders’ Equity
Three Months Ended Six Months Ended
(In millions)June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Common stock issued, $1 par value per share
$124.1 $124.1 $124.1 $124.1 
Capital in excess of par value
Beginning balance$817.6 $817.7 $834.3 $840.6 
Issuance of shares under stock-based compensation plans(1)
4.5 4.2 (12.2)(18.7)
Ending balance$822.1 $821.9 $822.1 $821.9 
Retained earnings
Beginning balance$5,709.4 $5,276.5 $5,597.5 $5,151.2 
Cumulative-effect adjustment upon adoption of accounting standard update(2)
— — — 10.2 
Net income204.1 189.0 372.2 355.3 
Issuance of shares under stock-based compensation plans(1)
1.1 1.5 10.2 12.7 
Contribution of shares to 401(k) plan(1)
5.6 5.8 12.6 12.8 
Dividends(76.2)(73.5)(148.5)(142.9)
Ending balance$5,844.0 $5,399.3 $5,844.0 $5,399.3 
Treasury stock at cost
Beginning balance$(3,957.6)$(3,598.6)$(3,904.1)$(3,347.5)
Repurchase of shares for treasury(133.9)(98.4)(194.8)(360.0)
Issuance of shares under stock-based compensation plans(1)
.6 .6 4.8 8.3 
Contribution of shares to 401(k) plan(1)
3.0 2.7 6.2 5.5 
Ending balance$(4,087.9)$(3,693.7)$(4,087.9)$(3,693.7)
Accumulated other comprehensive loss
Beginning balance$(393.0)$(449.2)$(409.7)$(456.1)
Other comprehensive income (loss), net of tax13.5 (.8)30.2 6.1 
Ending balance$(379.5)$(450.0)$(379.5)$(450.0)
(1) We fund a portion of our employee-related costs using shares of our common stock held in treasury. We reduce capital in excess of par value based on the grant date fair value of vesting awards and record net gains or losses associated with using treasury shares to retained earnings.
(2) In the first quarter of 2025, we adopted accounting guidance that requires crypto assets to be measured at fair value, which resulted in an adjustment to reflect the difference between the carrying value of our holdings in crypto assets and their fair value as of the beginning of 2025. Crypto assets were not material to the unaudited Condensed Consolidated Financial Statements.
Schedule of Dividends Per Common Share
Dividends per common share were as follows:
Three Months EndedSix Months Ended
June 30, 2026June 28, 2025June 30, 2026June 28, 2025
Dividends per common share$1.00 $.94 $1.94 $1.82 
Schedule of Changes in "Accumulated Other Comprehensive Loss" (Net of Tax)
The changes in “Accumulated other comprehensive loss” (net of tax) for the six-month period ended June 30, 2026 were as follows:
(In millions)
Foreign
Currency
Translation(1)
Pension and
Other
Postretirement
Benefits
Cash Flow
Hedges
Fair Value
Hedges
Total
Balance as of December 31, 2025
$(359.0)$(49.2)$.1 $(1.6)$(409.7)
Other comprehensive income (loss) before reclassifications, net of tax30.0 — (1.3)2.8 31.5 
Reclassifications to net income, net of tax— — (1.3)— (1.3)
Other comprehensive income (loss), net of tax30.0 — (2.6)2.8 30.2 
Balance as of June 30, 2026
$(329.0)$(49.2)$(2.5)$1.2 $(379.5)
(1) Included the impact of our derivative financial instruments accounted for as net investment hedges. Refer to Note 5, “Financial Instruments,” to the unaudited Condensed Consolidated Financial Statements for more information.
The changes in “Accumulated other comprehensive loss” (net of tax) for the six-month period ended June 28, 2025 were as follows:
(In millions)
Foreign
Currency
Translation(1)
Pension and
Other
Postretirement
Benefits
Cash Flow
Hedges
Fair Value
Hedges
Total
Balance as of December 28, 2024
$(375.5)$(78.0)$(4.6)$2.0 $(456.1)
Other comprehensive income (loss) before reclassifications, net of tax2.4 — 1.4 (1.1)2.7 
Reclassifications to net income, net of tax— 1.1 2.3 — 3.4 
Other comprehensive income (loss), net of tax2.4 1.1 3.7 (1.1)6.1 
Balance as of June 28, 2025
$(373.1)$(76.9)$(.9)$.9 $(450.0)
(1) Included the impact of our derivative financial instruments accounted for as net investment hedges. Refer to Note 5, “Financial Instruments,” to the unaudited Condensed Consolidated Financial Statements for more information.