Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

v3.23.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
3 Months Ended
Apr. 01, 2023
Equity [Abstract]  
Deferred Components of AOCL in Equity, Net of Related Taxes, and Changes in AOCL
The following table presents deferred components of AOCL in equity, net of related taxes:
(In thousands) March 2023 December 2022 March 2022
Foreign currency translation $ (99,139) $ (107,462) $ (96,740)
Defined benefit pension plans 2,208  2,243  (2,171)
Derivative financial instruments 28,926  25,554  15,214 
Accumulated other comprehensive loss $ (68,005) $ (79,665) $ (83,697)
The following tables present changes in AOCL, net of related tax impact:
Three Months Ended March 2023
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, December 2022 $ (107,462) $ 2,243  $ 25,554  $ (79,665)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications 8,323  —  10,292  18,615 
Reclassifications to net income of previously deferred (gains) losses —  (35) (6,920) (6,955)
Net other comprehensive income (loss) 8,323  (35) 3,372  11,660 
Balance, March 2023 $ (99,139) $ 2,208  $ 28,926  $ (68,005)
Three Months Ended March 2022
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, December 2021 $ (93,125) $ (2,177) $ 2,546  $ (92,756)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications (3,615) —  13,814  10,199 
Reclassifications to net income of previously deferred (gains) losses —  (1,146) (1,140)
Net other comprehensive income (loss) (3,615) 12,668  9,059 
Balance, March 2022 $ (96,740) $ (2,171) $ 15,214  $ (83,697)
Reclassification Out of AOCL
The following table presents reclassifications out of AOCL:
(In thousands) Three Months Ended March
Details About Accumulated Other Comprehensive Loss Reclassifications Affected Line Item in the Financial Statements
2023 2022
Defined benefit pension plans:
Net change in deferred gains (losses) during the period Selling, general and administrative expenses $ 46  $ (8)
Total before tax 46  (8)
Income taxes Income taxes (11)
Net of tax 35  (6)
Gains (losses) on derivative financial instruments:
Foreign currency exchange contracts Net revenues $ (171) $ (132)
Foreign currency exchange contracts Cost of goods sold 5,992  2,301 
Foreign currency exchange contracts Other expense, net 160  (103)
Interest rate swap agreements Interest expense 2,101  (1,266)
Total before tax 8,082  800 
Income taxes Income taxes (1,162) 346 
Net of tax 6,920  1,146 
Total reclassifications for the period, net of tax $ 6,955  $ 1,140