XML 37 R25.htm IDEA: XBRL DOCUMENT v3.25.3
Comprehensive Income (Tables)
9 Months Ended
Sep. 27, 2025
Comprehensive Income [Abstract]  
Comprehensive Income (Loss)
Note 10 – Comprehensive Income

Accumulated other comprehensive loss, net of tax, in the Condensed Consolidated Balance Sheets includes foreign currency cumulative translation adjustments; prior service costs and credits and net actuarial gains and losses for defined benefit plans; and unrealized derivative gains and losses. Changes in the components of Accumulated other comprehensive loss, net of tax, for the three and nine months ended September 27, 2025 and September 28, 2024 are as follows:
Three Months EndedNine Months Ended
(in millions)September 27, 2025September 28, 2024September 27, 2025September 28, 2024
Net (loss) earnings$(235.5)$44.6 $(156.0)$212.6 
Other comprehensive income (loss):
Foreign currency cumulative translation adjustments(2.2)26.6 68.7 3.4 
Net change in unamortized prior service credits (0.1)(0.1)(0.4)(0.4)
Net change in unamortized actuarial losses0.5 (0.2)0.2 (0.5)
Net change in unrealized derivative gains (losses)5.7 (11.4)(42.9)(4.5)
Total other comprehensive income (loss)3.9 14.9 25.6 (2.0)
Comprehensive (loss) income$(231.6)$59.5 $(130.4)$210.6 
The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended September 27, 2025:
(in millions)Foreign currency translationPrior service creditsNet actuarial gainsUnrealized investment gainsNet derivative gains (losses)Total
Beginning balance$(26.0)$(8.2)$10.2 $0.2 $(7.9)$(31.7)
Other comprehensive income (loss) before reclassifications (A)
(2.2)   5.4 3.2 
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)
 (0.1)0.5  0.3 0.7 
Net other comprehensive income (loss)(2.2)(0.1)0.5  5.7 3.9 
Ending balance$(28.2)$(8.3)$10.7 $0.2 $(2.2)$(27.8)

(A) The tax effects for the three months ended September 27, 2025 were $1.3 million for foreign currency translation and $(2.0) million for derivatives.
(B) The tax effects for the three months ended September 27, 2025 were $0.0 million for derivatives.
(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended September 27, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the nine months ended September 27, 2025:
(in millions)Foreign currency translationPrior service creditsNet actuarial gainsUnrealized investment gainsNet derivative gains (losses)Total
Beginning balance$(96.9)$(7.9)$10.5 $0.2 $40.7 $(53.4)
Other comprehensive income (loss) before reclassifications (A)
68.7    (40.4)28.3 
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)
 (0.4)0.2  (2.5)(2.7)
Net other comprehensive income (loss)68.7 (0.4)0.2  (42.9)25.6 
Ending balance$(28.2)$(8.3)$10.7 $0.2 $(2.2)$(27.8)

(A) The tax effects for the nine months ended September 27, 2025 were $(10.5) million for foreign currency translation and $12.9 million for derivatives.
(B) The tax effects for the nine months ended September 27, 2025 were $0.9 million for derivatives.
(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the nine months ended September 27, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended September 28, 2024:
(in millions)Foreign currency translationPrior service creditsNet actuarial gainsUnrealized investment gainsNet derivative gainsTotal
Beginning balance$(72.7)$(7.7)$7.6 $0.2 $30.0 $(42.6)
Other comprehensive loss before reclassifications (A)
26.6 — — — (11.7)14.9 
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)
— (0.1)(0.2)— 0.3 — 
Net other comprehensive income (loss)26.6 (0.1)(0.2)— (11.4)14.9 
Ending balance$(46.1)$(7.8)$7.4 $0.2 $18.6 $(27.7)

(A) The tax effects for the three months ended September 28, 2024 were $(3.3) million for foreign currency translation and $4.2 million for derivatives.
(B) The tax effects for the three months ended September 28, 2024 were $(0.2) million for derivatives.
(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended September 28, 2024. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.
The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the nine months ended September 28, 2024:
(in millions)Foreign currency translationPrior service creditsNet actuarial gainsUnrealized investment gainsNet derivative gainsTotal
Beginning balance$(49.5)$(7.4)$7.9 $0.2 $23.1 $(25.7)
Other comprehensive (loss) income before reclassifications (A)
3.4 — — — (2.4)1.0 
Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)
— (0.4)(0.5)— (2.1)(3.0)
Net other comprehensive (loss) income3.4 (0.4)(0.5)— (4.5)(2.0)
Ending balance$(46.1)$(7.8)$7.4 $0.2 $18.6 $(27.7)

(A) The tax effects for the nine months ended September 28, 2024 were $1.0 million for foreign currency translation and $1.1 million for derivatives.
(B) The tax effects for the nine months ended September 28, 2024 were $0.9 million for derivatives.
(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the nine months ended September 28, 2024. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.