Stockholders' Equity

6 Months Ended

Jun. 29, 2024

Equity [Abstract]

Stockholders' Equity

Accumulated Other Comprehensive Income (Loss)

(In millions)	Foreign Currency Translation Adjustments		Prior Pension and Post-Retirement Benefit Service Cost and Actuarial Gain (Loss)	Total
Balance as of December 31, 2023	$	(1,079.3)	(0.7)	(1,080.0)
Current period other comprehensive income (loss)	(158.7)		—	(158.7)
Balance as of June 29, 2024	$	(1,238.0)	(0.7)	(1,238.7)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended June 29, 2024 and July 1, 2023.

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interests	Total Stockholders’ Equity
(In millions)	Shares	Amount				Shares	Amount
Balance as of March 30, 2024	71.2	$0.7	$1,949.1	$7,075.2	($1,167.8)	(7.3)	($215.3)	$5.9	$7,647.8
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	—	—	(0.9)	—	—	—	—	—	(0.9)
Stock-based compensation expense	—	—	6.8	—	—	—	—	—	6.8
Repurchases of common stock	(0.8)	—	—	(87.8)	—	—	—	—	(87.8)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	0.1	0.1
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(0.1)	(0.1)
Purchase of noncontrolling interest, net of taxes	—	—	—	—	—	—	—	0.1	0.1
Currency translation adjustment	—	—	—	—	(70.9)	—	—	—	(70.9)
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	—	—	—	—	—
Net earnings	—	—	—	157.4	—	—	—	—	157.4
Balances as of June 29, 2024	70.4	$0.7	$1,955.0	$7,144.8	($1,238.7)	(7.3)	($215.3)	$6.0	$7,652.5

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interests	Total Stockholders’ Equity
(In millions)	Shares	Amount				Shares	Amount
Balances as of April 1, 2023	71.0	$0.7	$1,932.1	$7,490.0	($1,107.9)	(7.3)	($215.4)	$6.2	$8,105.7
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	—	—	—	—	—	—	—	—	—
Stock-based compensation expense	—	—	5.3	—	—	—	—	—	5.3
Repurchases of common stock	—	—	—	—	—	—	—	—	—
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	—	—
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(0.3)	(0.3)
Purchase of noncontrolling interest, net of taxes	—	—	—	—	—	—	—	—	—
Currency translation adjustment	—	—	—	—	0.1	—	—	—	0.1
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	—	—	—	—	—
Net earnings	—	—	—	101.2	—	—	—	—	101.2
Balances as of July 1, 2023	71.0	$0.7	$1,937.4	$7,591.2	($1,107.8)	(7.3)	($215.4)	$5.9	$8,212.0

The following tables reflect the changes in stockholders’ equity for the six months ended June 29, 2024 and July 1, 2023.

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interest	Total Stockholders’ Equity
(In millions)	Shares	Amount				Shares	Amount
Balances as of December 31, 2023	71.0	$0.7	$1,947.5	$6,970.2	($1,080.0)	(7.3)	($215.4)	$6.1	$7,629.1
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	0.2	—	(6.1)	—	—	—	0.1	—	(6.0)
Stock-based compensation expense	—	—	13.6	—	—	—	—	—	13.6
Repurchases of common stock	(0.8)	—	—	(87.8)	—	—	—	—	(87.8)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	0.1	0.1
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(0.2)	(0.2)
Purchase of noncontrolling interest, net of taxes	—	—	—	—	—	—	—	—	—
Currency translation adjustment	—	—	—	—	(158.7)	—	—	—	(158.7)
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	—	—	—	—	—
Net earnings	—	—	—	262.4	—	—	—	—	262.4
Balances as of June 29, 2024	70.4	$0.7	$1,955.0	$7,144.8	($1,238.7)	(7.3)	($215.3)	$6.0	$7,652.5

	Total Stockholders’ Equity
	Common Stock		Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock		Noncontrolling Interest	Total Stockholders’ Equity
(In millions)	Shares	Amount				Shares	Amount
Balances as of December 31, 2022	70.9	$0.7	$1,930.8	$7,409.8	($1,114.3)	(7.3)	($215.5)	$6.4	$8,017.9
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	0.1	—	(3.9)	—	—	—	0.1	—	(3.8)
Stock-based compensation expense	—	—	10.4	—	—	—	—	—	10.4
Repurchases of common stock	—	—	—	—	—	—	—	—	—
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	0.1	0.1
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	(0.4)	(0.4)
Purchase of noncontrolling interest, net of taxes	—	—	0.1	—	—	—	—	(0.2)	(0.1)
Currency translation adjustment	—	—		—	7.0	—	—	—	7.0
Prior pension and post-retirement benefit service cost and actuarial gain	—	—	—	—	(0.5)	—	—	—	(0.5)
Net earnings	—	—	—	181.4	—	—	—	—	181.4
Balances as of July 1, 2023	71.0	$0.7	$1,937.4	$7,591.2	($1,107.8)	(7.3)	($215.4)	$5.9	$8,212.0