XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.2
Other Comprehensive Income
 6 Months Ended
Jul. 01, 2023
Disclosure Other Comprehensive Income Additional Information [Abstract]  
Other Comprehensive Income Other Comprehensive Income
Changes in accumulated other comprehensive income(1) were as follows (in thousands):
 Currency Translation AdjustmentPension Benefit CostsUnrealized Gain/(Loss) Interest Rate SwapUnrealized Loss Certain InvestmentsTotal
Balance as of December 31, 2022$(205,345)$(121,701)$48,574 $— $(278,472)
Other comprehensive income before reclassification31,851 (6,106)13,173 — 38,918 
Amounts reclassified from accumulated other comprehensive income— 1,126 (15,284)— (14,158)
Net current-period other comprehensive income$31,851 $(4,980)$(2,111)— $24,760 
Balance as of July 1, 2023$(173,494)$(126,681)$46,463 — $(253,712)
Balance as of January 1, 2022$(97,654)$(249,696)$(13,064)$1,330 $(359,084)
Other comprehensive income before reclassification(119,402)26,199 31,427 (1,330)(63,106)
Amounts reclassified from accumulated other comprehensive income— — 7,817 — 7,817 
Net current-period other comprehensive income$(119,402)$26,199 $39,244 $(1,330)$(55,289)
Balance as of July 2, 2022$(217,056)$(223,497)$26,180 $— $(414,373)
(1) As of July 1, 2023, pension and interest rate swap are net of tax of $(1.9) million and $16.1 million, respectively. During the six months ended July 1, 2023, the adjustments to pension and interest rate swap were net of tax of $0.1 million and $(0.7) million, respectively. As of July 2, 2022, pension, interest rate swap, and gain on investment amounts are net of tax of $(35.4) million and $9.3 million, respectively. During the six months ended July 2, 2022, the adjustments to pension, unrealized gain/(loss) interest rate swap, and loss on investments were net of tax of $4.1 million, $13.8 million, and $(0.4) million, respectively.
Components of other comprehensive income were as follows (in thousands):
 Three Months EndedSix Months Ended
 Jul 1, 2023Jul 2, 2022Jul 1, 2023Jul 2, 2022
Net earnings$116,850 $113,248 $215,939 $199,003 
Currency translation adjustment4,892 (92,211)31,851 (119,402)
Pension liability adjustment, net of tax(2,171)19,955 (4,980)26,199 
Unrealized gain (loss) on interest rate swaps, net of tax6,210 8,128 (2,111)39,244 
Unrealized loss on certain investments, net of tax— (2,678)— (1,330)
Comprehensive income$125,781 $46,442 $240,699 $143,714