Accumulated Other Comrehensive Income (Loss) (Tables)

3 Months Ended

Jun. 29, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents OCI activity, net of tax, accumulated in equity:

	Foreign Currency Translation Gains (Losses)(a)		Net Unrealized Gains (Losses) on Cash Flow Hedges(b)		Net Unrealized Gains (Losses) on Defined Benefit Plans(c)		Total Accumulated Other Comprehensive Income (Loss)
	(millions)
Balance at March 30, 2024	$	(280.0)	$	7.2	$	(3.3)	$	(276.1)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(25.4)		5.3		(1.0)		(21.1)
Amounts reclassified from AOCI to earnings	—		(1.9)		1.0		(0.9)
Other comprehensive income (loss), net of tax	(25.4)		3.4		—		(22.0)
Balance at June 29, 2024	$	(305.4)	$	10.6	$	(3.3)	$	(298.1)
Balance at April 1, 2023	$	(203.8)	$	4.1	$	3.7	$	(196.0)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(37.5)		5.1		—		(32.4)
Amounts reclassified from AOCI to earnings	—		(4.3)		(0.1)		(4.4)
Other comprehensive income (loss), net of tax	(37.5)		0.8		(0.1)		(36.8)
Balance at July 1, 2023	$	(241.3)	$	4.9	$	3.6	$	(232.8)

(a)OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes income tax provision of $2.6 million and income tax benefit of $0.9 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively. OCI before reclassifications to earnings for the three-month periods ended June 29, 2024 and July 1, 2023 includes gains of $5.3 million (net of a $1.6 million income tax provision) and losses of $9.7 million (net of a $3.1 million income tax benefit), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 11).

(b)OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of income tax provisions of $0.9 million and $0.8 million for the three-month periods ended June 29, 2024 and July 1, 2023, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.

(c)Activity is presented net of taxes, which were immaterial for both periods presented.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:

	Three Months Ended				Location of Gains (Losses) Reclassified from AOCI to Earnings
	June 29, 2024		July 1, 2023
	(millions)
Gains (losses) on cash flow hedges(a):
FC — Cash flow hedges	$	2.2	$	4.9	Cost of goods sold
Tax effect	(0.3)		(0.6)		Income tax provision
Net of tax	$	1.9	$	4.3

(a)FC = Forward foreign currency exchange contracts.