Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Loss

v3.22.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE LOSS

15. ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents changes in accumulated other comprehensive loss by component:

 

 

 

Unrealized
Gains and
(Losses) on Derivative Instruments

 

 

Foreign
Currency
Items

 

 

Total

 

Balance at December 28, 2019

 

$

(5.4

)

 

$

(50.0

)

 

$

(55.4

)

Other comprehensive income before
   reclassifications

 

 

1.0

 

 

 

27.3

 

 

 

28.3

 

Amounts reclassified from accumulated
   other comprehensive loss, net of tax

 

 

(2.8

)

 

 

—

 

 

 

(2.8

)

Tax effect

 

 

1.3

 

 

 

(5.7

)

 

 

(4.4

)

Net current period other comprehensive (loss) income

 

 

(0.5

)

 

 

21.6

 

 

 

21.1

 

Balance at January 2, 2021

 

$

(5.9

)

 

$

(28.4

)

 

$

(34.3

)

Other comprehensive income (loss) before
   reclassifications

 

 

9.2

 

 

 

(24.5

)

 

 

(15.3

)

Amounts reclassified from accumulated
   other comprehensive loss, net of tax

 

 

(3.3

)

 

 

—

 

 

 

(3.3

)

Tax effect

 

 

(1.4

)

 

 

5.3

 

 

 

3.9

 

Net current period other comprehensive income (loss)

 

 

4.5

 

 

 

(19.2

)

 

 

(14.7

)

Balance at January 1, 2022

 

$

(1.4

)

 

$

(47.6

)

 

$

(49.0

)

Other comprehensive income (loss) before
   reclassifications

 

 

13.0

 

 

 

(25.4

)

 

 

(12.4

)

Amounts reclassified from accumulated
   other comprehensive loss, net of tax

 

 

(0.2

)

 

 

—

 

 

 

(0.2

)

Tax effect

 

 

(2.9

)

 

 

5.1

 

 

 

2.2

 

Net current period other comprehensive income (loss)

 

 

9.9

 

 

 

(20.3

)

 

 

(10.4

)

Balance at December 31, 2022

 

$

8.5

 

 

$

(67.9

)

 

$

(59.4

)

 

The following table presents reclassifications out of accumulated other comprehensive loss:

 

Details about Accumulated Other

Affected Line Item in the Consolidated

For the year Ended

 

Comprehensive Income Components

Statements of Operations

December 31, 2022

 

 

January 1, 2022

 

 

January 2, 2021

 

Derivative financial instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps

Interest expense, net

$

(0.2

)

 

$

(4.2

)

 

$

(3.7

)

 

Tax benefit

 

—

 

 

 

0.9

 

 

 

0.9

 

 

Net of tax

$

(0.2

)

 

$

(3.3

)

 

$

(2.8

)

 

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

 

$

(0.2

)

 

$

(3.3

)

 

$

(2.8

)