Stockholders' Equity

6 Months Ended

Jun. 28, 2025

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, 2024	$	(1,527.2)	(0.7)	(1,527.9)
Current period other comprehensive income (loss)	580.3		—	580.3
Balance as of June 28, 2025	$	(946.9)	(0.7)	(947.6)

Stockholders’ Equity

The following tables reflect the changes in stockholders’ equity for the three months ended June 28, 2025, and June 29, 2024.

	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 29, 2025	69.8	$0.7	$1,971.2	$7,372.2	($1,272.8)	(7.3)	($215.2)	$5.8	$7,861.9
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	0.1	—	(0.7)	—	—	—	—	—	(0.7)
Stock-based compensation expense	—	—	7.6	—	—	—	—	—	7.6
Repurchases of common stock	(0.4)	—	—	(42.6)	—	—	—	—	(42.6)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	—	—
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	0.3	0.3
De-consolidation of noncontrolling interests	—	—	—	—	—	—	—	(0.6)	(0.6)
Currency translation adjustment	—	—	—	—	325.2	—	—	—	325.2
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	—	—	—	—	—
Net earnings	—	—	—	146.5	—	—	—	—	146.5
Balances as of June 28, 2025	69.5	$0.7	$1,978.1	$7,476.1	($947.6)	(7.3)	($215.2)	$5.5	$8,297.6

	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 gain	—	—	—	—	—	—	—	—	—
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

The following tables reflect the changes in stockholders’ equity for the six months ended June 28, 2025, and June 29, 2024.

	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, 2024	69.9	$0.7	$1,968.8	$7,325.1	($1,527.9)	(7.3)	($215.3)	$5.5	$7,556.9
Shares issued under employee and director stock plans, net of shares withheld to pay taxes on employees’ equity awards	0.2	—	(5.9)	—	—	—	0.1	—	(5.8)
Stock-based compensation expense	—	—	15.2	—	—	—	—	—	15.2
Repurchases of common stock	(0.6)	—	—	(68.0)	—	—	—	—	(68.0)
Net earnings attributable to noncontrolling interests	—	—	—	—	—	—	—	—	—
Currency translation adjustment on noncontrolling interests	—	—	—	—	—	—	—	0.6	0.6
De-consolidation of noncontrolling interest	—	—	—	—	—	—	—	(0.6)	(0.6)
Currency translation adjustment	—	—	—	—	580.3	—	—	—	580.3
Prior pension and post-retirement benefit service cost and actuarial loss	—	—	—	—	—	—	—	—	—
Net earnings	—	—	—	219.0	—	—	—	—	219.0
Balances as of June 28, 2025	69.5	$0.7	$1,978.1	$7,476.1	($947.6)	(7.3)	($215.2)	$5.5	$8,297.6

	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 gain	—	—	—	—	—	—	—	—	—
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