| Accumulated Other Comprehensive (Loss)/Income |
Accumulated Other Comprehensive (Loss)/IncomeThe following table summarizes the components of accumulated other comprehensive (loss)/income and the changes in the balances of each component of accumulated other comprehensive (loss)/income, net of tax as applicable, for the six-month periods ended June 28, 2026 and June 29, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign Currency Items | | Defined Benefit Pension Items | | Gains and Losses on Cash Flow Hedges | | Accumulated Other Comprehensive (Loss)/Income | | Balance at December 31, 2025 | | $ | 124,227 | | | $ | (87,958) | | | $ | 935 | | | $ | 37,204 | | | Other comprehensive (loss)/income before reclassifications | | (110,563) | | | 2,459 | | | 3,377 | | | (104,727) | | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income | | — | | | 1,851 | | | (1,535) | | | 316 | | | | | | | | | | | | Other comprehensive (loss)/income | | (110,563) | | | 4,310 | | | 1,842 | | | (104,411) | | | | | | | | | | | | Balance at June 28, 2026 | | $ | 13,664 | | | $ | (83,648) | | | $ | 2,777 | | | $ | (67,207) | | | | | | | | | | | | Balance at December 31, 2024 | | $ | (410,931) | | | $ | (90,613) | | | $ | (1,190) | | | $ | (502,734) | | | Other comprehensive income before reclassifications | | 461,790 | | | 2,032 | | | 4,246 | | | 468,068 | | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income | | 51,747 | | | 1,447 | | | (1,165) | | | 52,029 | | | | | | | | | | | | Other comprehensive income | | 513,537 | | | 3,479 | | | 3,081 | | | 520,097 | | | | | | | | | | | | Balance at June 29, 2025 | | $ | 102,606 | | | $ | (87,134) | | | $ | 1,891 | | | $ | 17,363 | |
The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive (loss)/income for the six-month periods ended June 28, 2026 and June 29, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amount Reclassified from Accumulated Other Comprehensive (Loss)/Income | | | | | Three Months Ended | | Six Months Ended | | | Details about Accumulated Other Comprehensive (Loss)/ Income Components | | June 28, 2026 | June 29, 2025 | | June 28, 2026 | June 29, 2025 | | Affected Line Item in the Condensed Consolidated Statements of Income | | Foreign currency items | | | | | | | | | Currency translation adjustment loss on TFP sale(a) | | $ | — | | $ | (47,955) | | | $ | — | | $ | (47,955) | | | Net income from discontinued operations | Currency translation adjustment loss on Venezuela sale(a) | | — | | — | | | — | | $ | (3,792) | | | Gain/(Loss) on divestiture of business | | | | | | | | | | | | — | | (47,955) | | | — | | (51,747) | | | Net income | | Gains/(losses) on cash flow hedges | | | | | | | Foreign exchange contracts(b) | | 137 | | 1,368 | | | 52 | | 1,767 | | | Net sales | Foreign exchange contracts(b) | | (9) | | (151) | | | (197) | | (192) | | | Cost of sales | Commodity contracts(b) | | 1,447 | | — | | | 2,217 | | — | | | Cost of sales | | | 1,575 | | 1,217 | | | 2,072 | | 1,575 | | | Income from continuing operations before income taxes | | Income tax impact | | (322) | | (319) | | | (537) | | (410) | | | Provision for income taxes | | | 1,253 | | 898 | | | 1,535 | | 1,165 | | | Net income | | Defined benefit pension items | | | | | | | | | Effect of curtailment loss(c) | | (60) | | — | | | (60) | | — | | | Non-operating pension costs | Effect of settlement loss(c) | | (337) | | — | | | (337) | | — | | | Non-operating pension costs | Amortization of defined benefit pension items(c) | | (1,065) | | (842) | | | (2,074) | | (1,898) | | | Non-operating pension costs | | | (1,462) | | (842) | | | (2,471) | | (1,898) | | | Income from continuing operations before income taxes | | Income tax impact | | 411 | | 204 | | | 620 | | 451 | | | Provision for income taxes | | | (1,051) | | (638) | | | (1,851) | | (1,447) | | | Net income | | Total reclassifications for the period | | $ | 202 | | $ | (47,695) | | | $ | (316) | | $ | (52,029) | | | Net income |
(a) See Note 4 for additional details. (b) See Note 11 for additional details. (c) See Note 13 for additional details. The following table summarizes the before- and after-tax amounts for the various components of other comprehensive (loss)/income for the three-month periods ended June 28, 2026 and June 29, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 28, 2026 | | Three Months Ended June 29, 2025 | | | Before Tax Amount | Tax (Expense)/ Benefit | After Tax Amount | | Before Tax Amount | Tax Benefit/(Expense) | After Tax Amount | | Foreign currency items: | | | | | | | | | | Other comprehensive (loss)/income before reclassifications | | $ | (46,019) | | $ | (3,182) | | $ | (49,201) | | | $ | 241,272 | | $ | 48,446 | | $ | 289,718 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(a) | | — | | — | | — | | | 47,955 | | — | | 47,955 | | | Net other comprehensive (loss)/income from foreign currency items | | (46,019) | | (3,182) | | (49,201) | | | 289,227 | | 48,446 | | 337,673 | | | Defined benefit pension items: | | | | | | | | | | Other comprehensive income/(loss) before reclassifications | | 3,504 | | (984) | | 2,520 | | | 3,025 | | (728) | | 2,297 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(b) | | 1,462 | | (411) | | 1,051 | | | 842 | | (204) | | 638 | | Net other comprehensive income/(loss) from defined benefit pension items | | 4,966 | | (1,395) | | 3,571 | | | 3,867 | | (932) | | 2,935 | | | Gains and losses on cash flow hedges: | | | | | | | | | Other comprehensive income/(loss) before reclassifications | | 2,098 | | 69 | | 2,167 | | | 2,528 | | (306) | | 2,222 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(c) | | (1,575) | | 322 | | (1,253) | | | (1,217) | | 319 | | (898) | | | | | | | | | | | | Net other comprehensive income from cash flow hedges | | 523 | | 391 | | 914 | | | 1,311 | | 13 | | 1,324 | | | Other comprehensive (loss)/income | | $ | (40,530) | | $ | (4,186) | | $ | (44,716) | | | $ | 294,405 | | $ | 47,527 | | $ | 341,932 | |
(a) See Note 4 for additional details. (b) See Note 13 for additional details. (c) See Note 11 for additional details. The following table summarizes the before- and after-tax amounts for the various components of other comprehensive (loss)/income for the six-month periods ended June 28, 2026 and June 29, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 28, 2026 | | Six Months Ended June 29, 2025 | | | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount | | Before Tax Amount | Tax (Expense) Benefit | After Tax Amount | | Foreign currency items: | | | | | | | | | | Other comprehensive (loss)/income before reclassifications | | $ | (94,618) | | $ | (15,945) | | $ | (110,563) | | | $ | 403,100 | | $ | 58,690 | | $ | 461,790 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(a) | | — | | — | | — | | | 51,747 | | — | | 51,747 | | | Net other comprehensive (loss)/income from foreign currency items | | (94,618) | | (15,945) | | (110,563) | | | 454,847 | | 58,690 | | 513,537 | | | Defined benefit pension items: | | | | | | | | | | Other comprehensive income/(loss) before reclassifications | | 3,427 | | (968) | | 2,459 | | | 2,679 | | (647) | | 2,032 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(b) | | 2,471 | | (620) | | 1,851 | | | 1,898 | | (451) | | 1,447 | | | Net other comprehensive income/(loss) from defined benefit pension items | | 5,898 | | (1,588) | | 4,310 | | | 4,577 | | (1,098) | | 3,479 | | | Gains and losses on cash flow hedges: | | | | | | | | | | Other comprehensive income/(loss) before reclassifications | | 4,230 | | (853) | | 3,377 | | | 5,243 | | (997) | | 4,246 | | Amounts reclassified from accumulated other comprehensive (loss)/income to net income(c) | | (2,072) | | 537 | | (1,535) | | | (1,575) | | 410 | | (1,165) | | | | | | | | | | | | Net other comprehensive income/(loss) from cash flow hedges | | 2,158 | | (316) | | 1,842 | | | 3,668 | | (587) | | 3,081 | | | Other comprehensive (loss)/income | | $ | (86,562) | | $ | (17,849) | | $ | (104,411) | | | $ | 463,092 | | $ | 57,005 | | $ | 520,097 | |
(a) See Note 4 for additional details. (b) See Note 13 for additional details. (c) See Note 11 for additional details.
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