Accumulated Other Comprehensive Income (Loss) - (Tables)

3 Months Ended

Mar. 28, 2020

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended March 28, 2020:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 28, 2019	$	(187.4)	$	10.7	$	(331.2)	$	(507.9)
Other comprehensive loss before reclassifications	(108.0)		—		—		(108.0)
Amounts reclassified from Accumulated OCI	—		(0.4)		6.4		6.0
Net other comprehensive income (loss)	(108.0)		(0.4)		6.4		(102.0)
Balance as of March 28, 2020	$	(295.4)	$	10.3	$	(324.8)	$	(609.9)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended March 30, 2019:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 29, 2018	$	(177.9)	$	12.2	$	(296.5)	$	(462.2)
Impact of the Tax Cuts and Jobs Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	—		—		(45.9)		(45.9)
Balance at December 30, 2018	(177.9)		12.2		(342.4)		(508.1)
Other comprehensive loss before reclassifications	7.6		—		—		7.6
Amounts reclassified from Accumulated OCI	—		(0.4)		4.5		4.1
Net other comprehensive income (loss)	7.6		(0.4)		4.5		11.7
Balance as of March 30, 2019	$	(170.3)	$	11.8	$	(337.9)	$	(496.4)

The reclassifications out of Accumulated OCI for the three month periods ended March 28, 2020, and March 30, 2019, are as follows:


	Amount Reclassified from Accumulated OCI
	Three Months Ended
	March 28, 2020		March 30, 2019		Statement of Earnings Presentation
(Amounts in millions)
Gains on cash flow hedges:
Treasury locks	$	0.4	$	0.4	Interest expense
Income tax expense	—		—		Income tax expense
Net of tax	0.4		0.4

Amortization of net unrecognized losses and prior service credits	(8.4)		(5.8)		See footnote below*
Income tax benefit	2.0		1.3		Income tax expense
Net of tax	(6.4)		(4.5)
Total reclassifications for the period, net of tax	$	(6.0)	$	(4.1)



*			These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 11 and Note 12 for further information.