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STOCKHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Tables)
 3 Months Ended
Mar. 30, 2024
Equity [Abstract]  
Schedule of Weighted-Average Shares Outstanding Used in Computation of Basic and Diluted Income per Share
The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share:
 Three months ended
March 30,
2024		April 1,
2023
Weighted-average number of common shares used in basic income per share45.828 45.382 
Dilutive securities — Employee stock options and restricted stock units0.855 1.020 
Weighted-average number of common shares and dilutive securities used in diluted income per share46.683 46.402 
Schedule of PSU and RSU Activity
The following table summarizes the PSU and RSU activity from December 31, 2023 through March 30, 2024:
Unvested PSU’s and RSU’sWeighted-Average Grant-Date Fair Value Per Share
Outstanding at December 31, 20230.510 $58.53 
Granted0.135 122.71 
Vested(0.187)60.64 
Forfeited(0.002)55.59 
Outstanding at March 30, 20240.456 $76.82 
Schedule of Black-Scholes Pricing Model Assumptions
The fair value per share of the stock options granted on February 28, 2024 was $50.84. The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:

Annual expected stock price volatility 37.43 %
Annual expected dividend yield— %
Risk-free interest rate4.23 %
Expected life of stock option (in years)6.0
Schedule of Stock Option Activity
The following table summarizes the stock option activity from December 31, 2023 through March 30, 2024:
SharesWeighted-Average Exercise Price
Options outstanding at December 31, 20231.221 $30.70 
Exercised(0.404)14.86 
Forfeited— — 
Granted0.052 116.40 
Options outstanding at March 30, 20240.869 $43.26 
Schedule of Changes in Components of Accumulated Other Comprehensive Income, Net of Tax,
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended March 30, 2024 were as follows:
 Foreign
Currency
Translation
Adjustment
Net Unrealized Gains
on Qualifying Cash
Flow Hedges(1)
Pension and
Postretirement
Liability
Adjustment(2)
Total
Balance at beginning of period$251.0 $5.7 $4.4 $261.1 
Other comprehensive income (loss) before reclassifications(8.3)0.5 — (7.8)
Amounts reclassified from accumulated other comprehensive income— (1.8)(0.6)(2.4)
Current-period other comprehensive loss(8.3)(1.3)(0.6)(10.2)
Balance at end of period$242.7 $4.4 $3.8 $250.9 
__________________________
(1)Net of tax provision of $1.4 and $1.8 as of March 30, 2024 and December 31, 2023, respectively.
(2)Net of tax provision of $1.6 and $1.8 as of March 30, 2024 and December 31, 2023, respectively. The balances as of March 30, 2024 and December 31, 2023 include unamortized prior service credits.
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 1, 2023 were as follows:
 Foreign
Currency
Translation
Adjustment
Net Unrealized Gains
on Qualifying Cash
Flow Hedges(1)
Pension and
Postretirement
Liability
Adjustment(2)
Total
Balance at beginning of period$239.1 $11.0 $7.4 $257.5 
Other comprehensive income (loss) before reclassifications4.4 (0.3)— 4.1 
Amounts reclassified from accumulated other comprehensive income— (1.6)(0.7)(2.3)
Current-period other comprehensive income (loss)4.4 (1.9)(0.7)1.8 
Balance at end of period$243.5 $9.1 $6.7 $259.3 
_________________________
(1)Net of tax provision of $3.1 and $3.7 as of April 1, 2023 and December 31, 2022, respectively.
(2)Net of tax provision of $2.4 and $2.7 as of April 1, 2023 and December 31, 2022, respectively. The balances as of April 1, 2023 and December 31, 2022 include unamortized prior service credits.
Schedule of Amounts Reclassified from Each Component of Other Comprehensive Income (Loss)
The following summarizes amounts reclassified from each component of accumulated other comprehensive income for the three months ended March 30, 2024 and April 1, 2023:
Amount Reclassified from AOCI 
Three months ended
March 30, 2024April 1, 2023Affected Line Item in the Condensed
Consolidated Statements of Operations
Gains on qualifying cash flow hedges:   
Swaps$(2.4)$(2.1)Interest expense
Pre-tax(2.4)(2.1) 
Income taxes0.6 0.5  
 $(1.8)$(1.6) 
Gains on pension and postretirement items:   
Amortization of unrecognized prior service credits - Pre-tax$(0.8)$(1.0)Other income (expense), net
Income taxes0.2 0.3  
 $(0.6)$(0.7)