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Comprehensive Income (Tables)
3 Months Ended
Apr. 01, 2017
Comprehensive Income  
Schedule of changes in "Accumulated other comprehensive loss" (net of tax)

 

(In millions)

 

Foreign
Currency
Translation

 

Pension and
Other
Postretirement
Benefits

 

Cash Flow
Hedges

 

Total

 

Balance as of December 31, 2016

 

$

(212.6

)

$

(540.3

)

$

1.0

 

$

(751.9

)

Other comprehensive income (loss) before reclassifications, net of tax

 

35.5

 

 

(2.6

)

32.9

 

Reclassifications to net income, net of tax

 

 

4.7

 

1.8

 

6.5

 

 

 

 

 

 

 

 

 

 

 

Net current-period other comprehensive income (loss), net of tax

 

35.5

 

4.7

 

(.8

)

39.4

 

 

 

 

 

 

 

 

 

 

 

Balance as of April 1, 2017

 

$

(177.1

)

$

(535.6

)

$

.2

 

$

(712.5

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

Foreign
Currency
Translation

 

Pension and
Other
Postretirement
Benefits

 

Cash Flow
Hedges

 

Total

 

Balance as of January 2, 2016

 

$

(158.9

)

$

(521.6

)

$

(2.5

)

$

(683.0

)

Other comprehensive income (loss) before reclassifications, net of tax

 

18.9

 

 

(1.3

)

17.6

 

Reclassifications to net income, net of tax

 

 

4.2

 

 

4.2

 

 

 

 

 

 

 

 

 

 

 

Net current-period other comprehensive income (loss), net of tax

 

18.9

 

4.2

 

(1.3

)

21.8

 

 

 

 

 

 

 

 

 

 

 

Balance as of April 2, 2016

 

$

(140.0

)

$

(517.4

)

$

(3.8

)

$

(661.2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of amounts reclassified from "Accumulated other comprehensive loss" to increase (decrease) net income

 

 

 

Three Months Ended

 

 

 

(In millions)

 

April 1, 2017

 

April 2, 2016

 

Affected Line Item in the
Statements Where Net
Income is Presented

 

Cash flow hedges:

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

(.9

)

$

.3

 

Cost of products sold

 

Commodity contracts

 

.1

 

(.3

)

Cost of products sold

 

Interest rate contracts

 

(1.8

)

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

(2.6

)

 

Total before tax

 

 

 

.8

 

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

(1.8

)

 

Net of tax

 

Pension and other postretirement benefits(1)

 

(6.9

)

(6.1

)

 

 

 

 

2.2

 

1.9

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

(4.7

)

(4.2

)

Net of tax

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

 

$

(6.5

)

$

(4.2

)

Total, net of tax

 

 

 

 

 

 

 

 

 

 

 

 

(1)

See Note 6, “Pension and Other Postretirement Benefits,” for more information.