Quarterly report [Sections 13 or 15(d)]

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS

v3.25.2
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Accumulated Other Comprehensive Loss
The following table presents deferred components of AOCL in equity, net of related taxes:
(In thousands) June 2025 December 2024 June 2024
Foreign currency translation $ (84,456) $ (115,505) $ (102,726)
Defined benefit pension plans 2,069  2,119  2,773 
Derivative financial instruments (7,213) (3,264) 5,017 
Accumulated other comprehensive loss $ (89,600) $ (116,650) $ (94,936)
The following tables present changes in AOCL, net of related tax impact:
Three Months Ended June 2025
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2025 $ (109,432) $ 2,094  $ (7,248) $ (114,586)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications 24,976  —  (803) 24,173 
Reclassifications to net income of previously deferred (gains) losses —  (25) 838  813 
Net other comprehensive income (loss) 24,976  (25) 35  24,986 
Balance, June 2025 $ (84,456) $ 2,069  $ (7,213) $ (89,600)
Three Months Ended June 2024
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2024 $ (93,580) $ 2,831  $ 22,517  $ (68,232)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications (9,146) —  (11,861) (21,007)
Reclassifications to net income of previously deferred (gains) losses —  (58) (5,639) (5,697)
Net other comprehensive income (loss) (9,146) (58) (17,500) (26,704)
Balance, June 2024 $ (102,726) $ 2,773  $ 5,017  $ (94,936)
Six Months Ended June 2025
(In thousands) Foreign Currency Translation Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, December 2024 $ (115,505) $ 2,119  $ (3,264) $ (116,650)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications 31,049  —  (5,726) 25,323 
Reclassifications to net income of previously deferred (gains) losses —  (50) 1,777  1,727 
Net other comprehensive income (loss) 31,049  (50) (3,949) 27,050 
Balance, June 2025 $ (84,456) $ 2,069  $ (7,213) $ (89,600)
Six Months Ended June 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 (11,669) —  (2,173) (13,842)
Reclassifications to net income of previously deferred (gains) losses —  (140) (13,103) (13,243)
Net other comprehensive income (loss) (11,669) (140) (15,276) (27,085)
Balance, June 2024 $ (102,726) $ 2,773  $ 5,017  $ (94,936)
The following table presents reclassifications out of AOCL:
(In thousands) Three Months Ended June Six Months Ended June
Details About Accumulated Other Comprehensive Loss Reclassifications
Affected Line Item in the Financial Statements
2025 2024 2025 2024
Defined benefit pension plans:
Net change in deferred gains (losses) during the period Selling, general and administrative expenses $ 34  $ 92  $ 67  $ 185 
Total before tax 34  92  67  185 
Income taxes Income taxes (9) (34) (17) (45)
Net of tax 25  58  50  140 
Gains (losses) on derivative financial instruments:
Foreign currency exchange contracts Net revenues $ (177) $ (1,215) $ (988) $ (1,162)
Foreign currency exchange contracts Cost of goods sold (1,110) 6,290  (1,599) 11,581 
Foreign currency exchange contracts Other income (expense), net 56  85  232  167 
Interest rate swap agreements Interest expense 762  569  1,181  3,300 
Total before tax (469) 5,729  (1,174) 13,886 
Income taxes Income taxes (369) (90) (603) (783)
Net of tax (838) 5,639  (1,777) 13,103 
Total reclassifications for the period, net of tax $ (813) $ 5,697  $ (1,727) $ 13,243