Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 27, 2025

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The following table includes the changes in accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Changes in Accumulated Other Comprehensive Loss by Component (1)
	Cash Flow Hedges			Foreign Currency Translation Adjustment			Retirement Benefit Adjustment		Total
	Six months ended June 27, 2025
Balance at December 27, 2024	$	5.6		$	(45.2)		$	(10.8)	$	(50.4)
Other comprehensive (loss) income before reclassifications	(12.0)			23.2		(2)	(1.1)		10.1
Amounts reclassified from accumulated other comprehensive loss	3.3			—			0.2		3.5
Net current period other comprehensive (loss) income	(8.7)			23.2			(0.9)		13.6
Balance at June 27, 2025	$	(3.1)		$	(22.0)		$	(11.7)	$	(36.8)
	Six months ended June 28, 2024
Balance at December 29, 2023	$	3.8		$	(37.1)		$	(10.0)	$	(43.3)
Other comprehensive income (loss) before reclassifications	9.1		(3)	(6.7)		(2)	(1.4)		1.0
Amounts reclassified from accumulated other comprehensive loss	(2.3)			—			0.4		(1.9)
Net current period other comprehensive income (loss)	6.8			(6.7)			(1.0)		(0.9)
Balance at June 28, 2024	$	10.6		$	(43.8)		$	(11.0)	$	(44.2)

(1) All amounts are net of tax and noncontrolling interest.

(2) Includes a gain of $10.6 million and a loss of $4.2 million for the six months ended June 27, 2025 and six months ended June 28, 2024, respectively, on intra-entity foreign currency transactions that are of a long-term-investment nature.

(3) Includes a tax effect of $0.2 million for the six months ended June 28, 2024.

The following table includes details about amounts reclassified from accumulated other comprehensive loss by component (U.S. dollars in millions): 

	Amount of (gain) loss reclassified from accumulated other comprehensive loss
	June 27, 2025				June 28, 2024
Details about accumulated other comprehensive loss components	Quarter ended		Six months ended		Quarter ended		Six months ended		Affected line item in the statement where net income is presented
Cash flow hedges:
Designated as hedging instruments:
Foreign currency cash flow hedges	$	3.4	$	5.4	$	(0.5)	$	(0.8)	Net sales
Foreign currency cash flow hedges	(0.6)		(0.4)		0.9		3.1		Cost of products sold
Interest rate swaps	(0.8)		(1.7)		(2.0)		(4.6)		Interest expense
Total	$	2.0	$	3.3	$	(1.6)	$	(2.3)
Amortization of retirement benefits:
Actuarial losses	$	0.1	0.2		$	—	0.4		Other expense, net
Curtailment and settlement losses	—		—		0.4		0.7		Other expense, net and Asset impairment and other charges, net
Total	$	0.1	$	0.2	$	0.4	$	1.1