Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Oct. 03, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 16: Accumulated Other Comprehensive Income (Loss)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended October 3, 2015:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension  and Postretirement Plans		Total
Balance as of July 4, 2015	$	(73.3)	$	0.8	$	(229.5)	$	(302.0)
Other comprehensive loss before reclassifications		(26.1)		–		–		(26.1)
Amounts reclassified from Accumulated OCI		–		(0.1)		6.0		5.9
Net other comprehensive income (loss)		(26.1)		(0.1)		6.0		(20.2)
Balance as of October 3, 2015	$	(99.4)	$	0.7	$	(223.5)	$	(322.2)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended October 3, 2015:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension  and Postretirement Plans		Total
Balance as of January 3, 2015	$	(7.7)	$	1.0	$	(241.5)	$	(248.2)
Other comprehensive loss before reclassifications		(91.7)		–		–		(91.7)
Amounts reclassified from Accumulated OCI		–		(0.3)		18.0		17.7
Net other comprehensive income (loss)		(91.7)		(0.3)		18.0		(74.0)
Balance as of October 3, 2015	$	(99.4)	$	0.7	$	(223.5)	$	(322.2)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended September 27, 2014:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension  and Postretirement Plans		Total
Balance as of June 28, 2014	$	122.6	$	1.1	$	(160.2)	$	(36.5)
Other comprehensive loss before reclassifications		(64.8)		–		–		(64.8)
Amounts reclassified from Accumulated OCI		–		(0.1)		3.5		3.4
Net other comprehensive income (loss)		(64.8)		(0.1)		3.5		(61.4)
Balance as of September 27, 2014	$	57.8	$	1.0	$	(156.7)	$	(97.9)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended September 27, 2014:

(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension  and Postretirement Plans		Total
Balance as of December 28, 2013	$	121.1	$	1.3	$	(167.2)	$	(44.8)
Other comprehensive loss before reclassifications		(63.3)		–		–		(63.3)
Amounts reclassified from Accumulated OCI		–		(0.3)		10.5		10.2
Net other comprehensive income (loss)		(63.3)		(0.3)		10.5		(53.1)
Balance as of September 27, 2014	$	57.8	$	1.0	$	(156.7)	$	(97.9)

The reclassifications out of Accumulated OCI for the three and nine months ended October 3, 2015, and September 27, 2014, are as follows:

	Amounts Reclassified from Accumulated OCI
	Three Months Ended				Nine Months Ended				Statement of Earnings Presentation
Details about Accumulated OCI Components	October 3, 2015		September 27, 2014		October 3, 2015		September 27, 2014
(Amounts in millions)
Gains on cash flow hedges:
Treasury locks	$	0.1	$	0.1	$	0.3	$	0.3	Interest expense
Income tax expense		–		–		–		–	Income tax expense
Net of tax		0.1		0.1		0.3		0.3
Amortization of net unrecognized losses and prior service credits		(9.4)		(5.6)		(28.6)		(16.6)	See footnote
Income tax benefit		3.4		2.1		10.6		6.1	Income tax expense
Net of tax		(6.0)		(3.5)		(18.0)		(10.5)
Total reclassifications for the period, net of tax	$	(5.9)	$	(3.4)	$	(17.7)	$	(10.2)

* These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for further information.