Other Comprehensive Income (Loss)

6 Months Ended

Jun. 29, 2024

Changes in other comprehensive income (loss) by component were as follows:


(in thousands)	Three Months Ended June 29, 2024						Three Months Ended July 1, 2023
	Pre-tax		Tax		Net of Tax		Pre-tax		Tax		Net of Tax
Defined benefit pension plan and other adjustments	$	336	$	(10)	$	326	$	(146)	$	(13)	$	(159)
Cash flow hedge	(23)		5		(18)		4,096		(983)		3,113
Foreign currency translation adjustments (a)	(21,542)		167		(21,375)		(17,865)		—		(17,865)
Total change in other comprehensive (loss) income	$	(21,229)	$	162	$	(21,067)	$	(13,915)	$	(996)	$	(14,911)

(in thousands)	Six Months Ended June 29, 2024						Six Months Ended July 1, 2023
	Pre-tax		Tax		Net of Tax		Pre-tax		Tax		Net of Tax
Defined benefit pension plan and other adjustments	$	696	$	(26)	$	670	$	(122)	$	(31)	$	(153)
Cash flow hedge	2,511		(603)		1,908		783		(188)		595
Foreign currency translation adjustments (a)	(54,712)		776		(53,936)		(1,797)		(273)		(2,070)
Total change in other comprehensive (loss) income	$	(51,505)	$	147	$	(51,358)	$	(1,136)	$	(492)	$	(1,628)

(a) The tax shown above within the foreign currency translation adjustments is the U.S. tax associated with the foreign currency translation adjustments of earnings of non-U.S. subsidiaries which have been previously taxed in the U.S. and are not permanently reinvested.

The following tables set forth the changes in accumulated other comprehensive loss by component for the six months ended June 29, 2024 and July 1, 2023:


(in thousands)	Defined benefit pension plan and other adjustments		Cash flow hedge		Foreign currency translation adjustment		Accumulated other comprehensive loss
Balance at December 30, 2023	$	(7,613)	$	4,448	$	(52,652)	$	(55,817)

Activity in the period	670		1,908		(53,936)		(51,358)
Balance at June 29, 2024	$	(6,943)	$	6,356	$	(106,588)	$	(107,175)


(in thousands)	Defined benefit pension plan and other adjustments		Cash flow hedge		Foreign currency translation adjustment		Accumulated other comprehensive loss
Balance at December 31, 2022	$	(2,193)	$	6,596	$	(100,167)	$	(95,764)

Activity in the period	(153)		595		(2,070)		(1,628)
Balance at July 1, 2023	$	(2,346)	$	7,191	$	(102,237)	$	(97,392)

Amounts reclassified from accumulated other comprehensive loss to earnings for the three and six months ended June 29, 2024 and July 1, 2023 were as follows:


	Three Months Ended				Six Months Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Pension and postemployment plans:
Amortization of prior service and net actuarial loss (gain)	$	347	$	(11)	$	703	$	(22)

The Company recognizes the amortization of prior service costs in Other income, net within the Condensed Consolidated Statements of Net Income.