Equity (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Accumulated Other Comprehensive Loss

The following tables present the changes in the balances of each component of AOCI including reclassifications out of AOCI for the three months ended March 31, 2023 and April 1, 2022. All amounts are net of tax and noncontrolling interest, if any.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Net Investment Hedges		Cash Flow Hedges		Total
	(In thousands)
Balance at December 31, 2022	$	(63,847)	$	(613,907)	$	(8,336)	$	11,102	$	(674,988)
Other comprehensive income (loss) before reclassifications:
Net actuarial loss	(2)		—		—		—		(2)
Foreign currency translation adjustment	(108)		31,276		(2,086)		—		29,082
Gain on long-term intra-entity foreign currency transactions	—		12,501		—		—		12,501
Unrealized loss on cash flow hedges	—		—		—		(2,051)		(2,051)
Other comprehensive (loss) income before reclassifications	(110)		43,777		(2,086)		(2,051)		39,530
Amounts reclassified from Accumulated other comprehensive loss(1)(2)	279		—		—		(1,530)		(1,251)
Net current period Other comprehensive (loss) income	169		43,777		(2,086)		(3,581)		38,279
Balance at March 31, 2023	$	(63,678)	$	(570,130)	$	(10,422)	$	7,521	$	(636,709)

(1) The amounts on this line within the Net Unrecognized Pension And Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.

(2) During the three months ended March 31, 2023, the amount on this line within the Loss on Cash Flow Hedges column, is a component of Interest expense (income) and other, net. See Note 10 “Derivatives” for additional details.


	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost		Foreign Currency Translation Adjustment		Total
	(In thousands)
Balance at December 31, 2021	$	(21,196)	$	(439,692)	$	(460,888)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment	490		(45,171)		(44,681)
Other comprehensive income (loss) before reclassifications	490		(45,171)		(44,681)
Amounts reclassified from Accumulated other comprehensive loss(1)	786		—		786
Amounts contributed by Former Parent(2)	(50,504)		(8,759)		(59,263)
Net current period Other comprehensive income (loss)	(49,228)		(53,930)		(103,158)
Balance at April 1, 2022	$	(70,424)	$	(493,622)	$	(564,046)

(1) The amounts on this line within the Net Unrecognized Pension And Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost.

(2) Includes unrecognized pension and other post-retirement costs and accumulated currency translation adjustments of certain entities which were part of the Corporate segment of the Former Parent and were transferred to ESAB Corporation in anticipation of the Separation. See Note 1 “Organization and Basis of Presentation” for more information on the entities contributed from the Former Parent.