Quarterly report pursuant to Section 13 or 15(d)

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

v3.24.1.u1
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
3 Months Ended
Mar. 30, 2024
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 2024 December 2023 March 2023
Foreign currency translation $ (93,580) $ (91,057) $ (99,139)
Defined benefit pension plans 2,831  2,913  2,208 
Derivative financial instruments 22,517  20,293  28,926 
Accumulated other comprehensive loss $ (68,232) $ (67,851) $ (68,005)
The following tables present changes in AOCL, net of related tax impact:
Three Months Ended March 2024
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, December 2023 $ (91,057) $ 2,913  $ 20,293  $ (67,851)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications (2,523) —  9,688  7,165 
Reclassifications to net income of previously deferred (gains) losses —  (82) (7,464) (7,546)
Net other comprehensive income (loss) (2,523) (82) 2,224  (381)
Balance, March 2024 $ (93,580) $ 2,831  $ 22,517  $ (68,232)
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)
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
2024 2023
Defined benefit pension plans:
Net change in deferred gains (losses) during the period Selling, general and administrative expenses $ 93  $ 46 
Total before tax 93  46 
Income taxes Income taxes (11) (11)
Net of tax 82  35 
Gains (losses) on derivative financial instruments:
Foreign currency exchange contracts Net revenues $ 53  $ (171)
Foreign currency exchange contracts Cost of goods sold 5,291  5,992 
Foreign currency exchange contracts Other expense, net 82  160 
Interest rate swap agreements Interest expense 2,731  2,101 
Total before tax 8,157  8,082 
Income taxes Income taxes (693) (1,162)
Net of tax 7,464  6,920 
Total reclassifications for the period, net of tax $ 7,546  $ 6,955