Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 02, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component for the six months ended July 2, 2022 are as follows:

	Foreign currency translation adjustments		Prior pension and post-retirement benefit service cost and actuarial gain (loss)	Total
Balance as of December 31, 2021	$	(959,199)	(7,753)	(966,952)
Current period other comprehensive income (loss)	(48,654)		607	(48,047)
Balance as of July 2, 2022	$	(1,007,853)	(7,146)	(1,014,999)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended July 2, 2022 and July 3, 2021 (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
April 2, 2022	70,880	$709	$1,913,518	$7,630,837	($1,048,599)	(7,341)	($215,495)	$6,633	$8,287,603
Shares issued under employee and director stock plans	2	—	(2)	—	—	—	4	—	2
Stock-based compensation expense	—	—	5,654	—	—	—	—	—	5,654
Repurchases of common stock	(4)	—	—	(611)	—	—	—	—	(611)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	79	79
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	535	535
Purchase of noncontrolling interest, net of taxes	—	—	572	—	—	—	—	(927)	(355)
Currency translation adjustment	—	—	—	—	33,530	—	—	—	33,530
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	70	—	—	—	70
Net earnings	—	—	—	280,431	—	—	—	—	280,431
July 2, 2022	70,878	$709	$1,919,742	$7,910,657	($1,014,999)	(7,341)	($215,491)	$6,320	$8,606,938

	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
April 3, 2021	77,050	$770	$1,889,540	$7,673,129	($855,455)	(7,343)	($215,551)	$6,599	$8,499,032
Shares issued under employee and director stock plans	2	—	54	—	—	—	4	—	58
Stock-based compensation expense	—	—	6,018	—	—	—	—	—	6,018
Repurchases of common stock	(680)	(6)	—	(141,619)	—	—	—	—	(141,625)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	168	168
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	57	57
Currency translation adjustment	—	—	—	—	73,838	—	—	—	73,838
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	111	—	—	—	111
Net earnings	—	—	—	336,285	—	—	—	—	336,285
July 3, 2021	76,372	$764	$1,895,612	$7,867,795	($781,506)	(7,343)	($215,547)	$6,824	$8,773,942

The following tables reflect the changes in stockholders’ equity for the six months ended July 2, 2022 and July 3, 2021 (in thousands).

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interest	Total Stockholders’ Equity
	Shares	Amount				Shares	Amount
December 31, 2021	72,952	$729	$1,911,131	$7,692,064	($966,952)	(7,343)	($215,547)	$6,791	$8,428,216
Shares issued under employee and director stock plans	107	1	(3,270)	—	—	2	56	—	(3,213)
Stock-based compensation expense	—	—	11,309	—	—	—	—	—	11,309
Repurchases of common stock	(2,181)	(21)	—	(307,167)	—	—	—	—	(307,188)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	184	184
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	272	272
Purchase of noncontrolling interest, net of taxes	—	—	572	—	—	—	—	(927)	(355)
Currency translation adjustment	—	—	—	—	(48,654)	—	—	—	(48,654)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	607	—	—	—	607
Net earnings	—	—	—	525,760	—	—	—	—	525,760
July 2, 2022	70,878	$709	$1,919,742	$7,910,657	($1,014,999)	(7,341)	($215,491)	$6,320	$8,606,938

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interest	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	115	1	(1,516)	—	—	3	101	—	(1,414)
Stock-based compensation expense	—	—	11,986	—	—	—	—	—	11,986
Repurchases of common stock	(1,367)	(13)	—	(264,488)	—	—	—	—	(264,501)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	172	172
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(190)	(190)
Currency translation adjustment	—	—		—	(86,569)	—	—	—	(86,569)
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	208	—	—	—	208
Net earnings	—	—	—	573,092	—	—	—	—	573,092
July 3, 2021	76,372	$764	$1,895,612	$7,867,795	($781,506)	(7,343)	($215,547)	$6,824	$8,773,942