Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 01, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

	Foreign currency translation adjustments		Prior pension and post- retirement benefit service  cost and actuarial gain (loss)	Total
Balance as of December 31, 2022	$	(1,114,629)	371	(1,114,258)
Current period other comprehensive income (loss)	7,024		(508)	6,516
Balance as of July 1, 2023	$	(1,107,605)	(137)	(1,107,742)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended July 1, 2023 and July 2, 2022 (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
Balance as of April 1, 2023	71,017	$710	$1,931,987	$7,489,998	($1,107,825)	(7,338)	($215,397)	$6,233	$8,105,706
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	1	—	(17)	—	—	—	—	—	(17)
Stock-based compensation expense	—	—	5,350	—	—	—	—	—	5,350
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	(3)	(3)
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(316)	(316)
Currency translation adjustment	—	—	—	—	95	—	—	—	95
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	(12)	—	—	—	(12)
Net earnings	—	—	—	101,217	—	—	—	—	101,217
Balances as of July 1, 2023	71,018	$710	$1,937,320	$7,591,215	($1,107,742)	(7,338)	($215,397)	$5,914	$8,212,020

	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
Balances as of 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, net of shares withheld to pay taxes on employees’ equity awards	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
Balances as of July 2, 2022	70,878	$709	$1,919,742	$7,910,657	($1,014,999)	(7,341)	($215,491)	$6,320	$8,606,938

The following tables reflect the changes in stockholders’ equity for the six months ended July 1, 2023 and July 2, 2022 (in thousands).

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Nonredeemable Noncontrolling Interest	Total Stockholders’ Equity
	Shares	Amount				Shares	Amount
Balances as of December 31, 2022	70,875	$709	$1,930,789	$7,409,760	($1,114,258)	(7,341)	($215,491)	$6,405	$8,017,914
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	143	1	(3,905)	—	—	3	94	—	(3,810)
Stock-based compensation expense	—	—	10,383	—	—	—	—	—	10,383
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	35	35
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(373)	(373)
Purchase of noncontrolling interest, net of taxes	—	—	53	—	—	—	—	(153)	(100)
Currency translation adjustment	—	—	—	—	7,024	—	—	—	7,024
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	(508)	—	—	—	(508)
Net earnings	—	—	—	181,455	—	—	—	—	181,455
Balances as of July 1, 2023	71,018	$710	$1,937,320	$7,591,215	($1,107,742)	(7,338)	($215,397)	$5,914	$8,212,020

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Nonredeemable Noncontrolling Interest	Total Stockholders’ Equity
	Shares	Amount				Shares	Amount
Balances as of 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
Balances as of July 2, 2022	70,878	$709	$1,919,742	$7,910,657	($1,014,999)	(7,341)	($215,491)	$6,320	$8,606,938