Other Comprehensive Income

3 Months Ended

Mar. 30, 2024

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 Adjustment		Pension Benefit Costs		Unrealized Gain/(Loss) Interest Rate Swap		Total
Balance as of December 30, 2023	$	(145,490)	$	(109,713)	$	32,005	$	(223,198)
Other comprehensive income before reclassification	(26,486)		619		10,956		(14,911)
Amounts reclassified from accumulated other comprehensive income	—		432		(7,566)		(7,134)
Net current-period other comprehensive income	$	(26,486)	$	1,051	$	3,390	$	(22,045)
Balance as of March 30, 2024	$	(171,976)	$	(108,662)	$	35,395	$	(245,243)
Balance as of December 31, 2022	$	(205,345)	$	(121,701)	$	48,574	$	(278,472)
Other comprehensive income before reclassification	26,959		(3,479)		(1,312)		22,168
Amounts reclassified from accumulated other comprehensive income	—		670		(7,009)		(6,339)
Net current-period other comprehensive income	$	26,959	$	(2,809)	$	(8,321)	$	15,829
Balance as of April 1, 2023	$	(178,386)	$	(124,510)	$	40,253	$	(262,643)

(1) As of March 30, 2024, pension and unrealized gain on interest rate swap amounts, net of tax, are $4.2 million and $11.1 million, respectively. During the three months ended March 30, 2024, the adjustments to pension and unrealized gain/(loss) on interest rate swap amounts, net of tax, are $0.2 million and $0.1 million, respectively. As of April 1, 2023, pension and unrealized gain/(loss) on interest rate swap amounts, net of tax, were $(2.1) million and $13.9 million, respectively. During the three months ended April 1, 2023, the adjustments to pension and unrealized loss on interest rate swap amounts, net of tax, were $(0.1) million and $(2.9) million, respectively.

Components of other comprehensive income were as follows (in thousands):

	Three Months Ended
	Mar 30, 2024		Apr 1, 2023
Net earnings	$	86,568	$	99,089
Currency translation adjustment	(26,486)		26,959
Pension liability adjustment, net of tax	1,051		(2,809)
Unrealized gain (loss) on interest rate swaps, net of tax	3,390		(8,321)
Comprehensive income	$	64,523	$	114,918