Equity (Tables)

3 Months Ended

Mar. 28, 2024

Stockholders' Equity Note [Abstract]

The following table sets forth the computation of basic and diluted earnings per share:


	For the Three Months Ended
	March 28, 2024					March 30, 2023
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic EPS
Loss available to common stockholders	$	(616.7)	116.2	$	(5.31)	$	(281.2)	104.9	$	(2.68)
Income allocated to participating securities	—		—			—		—
Net loss	$	(616.7)				$	(281.2)

Diluted potential common shares			—					—
Diluted EPS
Net loss	$	(616.7)	116.2	$	(5.31)	$	(281.2)	104.9	$	(2.68)

Included in the outstanding Common Stock were 0.0 million and 0.1 million of issued but unvested shares at March 28, 2024 and March 30, 2023, respectively, which are excluded from the basic Earnings Per Share (“EPS”) calculation.

Shares of Common Stock of 9.6 million were excluded from diluted EPS as a result of incurring a net loss for the three months ended March 28, 2024, as the effect would have been antidilutive. Additionally, diluted EPS for the three months ended March 28, 2024 excludes 0.2 million shares that may be dilutive shares of Common Stock in the future but were not included in the computation of diluted EPS because the effect was either antidilutive or the performance condition was not met.

Shares of Common Stock of 0.9 million were excluded from diluted EPS as a result of incurring a net loss for the three months ended March 30, 2023, as the effect would have been antidilutive. Additionally, diluted EPS for the three months ended March 30, 2023 excludes 0.2 million shares that may be dilutive shares of Common Stock in the future but were not included in the computation of diluted EPS because the effect was either antidilutive or the performance condition was not met.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Loss is summarized by component as follows:


	As of		As of
	March 28, 2024		December 31, 2023
Pension	$	(18.4)	$	(18.7)

SERP/Retiree medical	6.7		6.8
Derivatives - foreign currency hedge	—		2.2
Foreign currency impact on long-term intercompany loan	(14.9)		(14.6)
Currency translation adjustment	(70.6)		(65.3)
Total accumulated other comprehensive loss	$	(97.2)	$	(89.6)