Stockholders' Equity

3 Months Ended

Apr. 03, 2021

Equity [Abstract]

Stockholders' Equity

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component for the three months ended April 3, 2021 are as follows:

	Foreign currency translation adjustments		Pensions, net of tax	Total
Balance as of December 31, 2020	$	(680,255)	(14,890)	(695,145)
Current period other comprehensive income (loss)	(160,407)		97	(160,310)
Balance as of April 3, 2021	$	(840,662)	(14,793)	(855,455)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended April 3, 2021 and March 28, 2020 (in thousands).

	Total Stockholders’ Equity
	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock			Nonredeemable Noncontrolling Interests		Total Stockholders' Equity
	Shares	Amount								Shares	Amount
December 31, 2020	77,624	$	776	$	1,885,142	$	7,559,191	$	(695,145)	(7,346)	$	(215,648)	$	6,842	$	8,541,158
Shares issued under employee and director stock plans	113	1		(1,570)		—		—		3	97		—		(1,472)
Stock-based compensation expense	—	—		5,968		—		—		—	—		—		5,968
Repurchases of common stock	(687)	(7)		—		(122,869)		—		—	—		—		(122,876)
Net earnings attributable to noncontrolling interests	—	—		—		—		—		—	—		4		4
Currency translation adjustment on noncontrolling interests	—	—		—		—		—		—	—		(247)		(247)
Currency translation adjustment	—	—		—		—		(160,407)		—	—		—		(160,407)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—		—		—		97		—	—		—		97
Net earnings	—	—		—		236,807		—		—	—		—		236,807
April 3, 2021	77,050	$	770	$	1,889,540	$	7,673,129	$	(855,455)	(7,343)	$	(215,551)	$	6,599	$	8,499,032

	Total Stockholders’ Equity
	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock			Nonredeemable Noncontrolling Interests		Total Stockholders' Equity
	Shares	Amount								Shares	Amount
December 31, 2019	78,980	$	790	$	1,868,250	$	7,232,337	$	(765,824)	(7,348)	$	(215,712)	$	6,607	$	8,126,448
Shares issued under employee and director stock plans	130	1		(3,288)		—		—		2	59		—		(3,228)
Stock-based compensation expense	—	—		5,041		—		—		—	—		—		5,041
Repurchases of common stock	(579)	(6)		—		(68,635)		—		—	—		—		(68,641)
Net (loss) attributable to noncontrolling interests	—	—		—		—		—		—	—		(49)		(49)
Currency translation adjustment on noncontrolling interests	—	—		—		—		—		—	—		(283)		(283)
Currency translation adjustment	—	—		—		—		(322,129)		—	—		—		(322,129)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—		—		—		101		—	—		—		101
CECL adoption	—	—		—		(131)		—		—	—		—		(131)
Net earnings	—	—		—		110,514		—		—	—		—		110,514
March 28, 2020	78,531	$	785	$	1,870,003	$	7,274,085	$	(1,087,852)	(7,346)	$	(215,653)	$	6,275	$	7,847,643