Capital and Accumulated Other Comprehensive Income (Loss) (Tables)
|
3 Months Ended |
Apr. 02, 2016 |
|---|
| Shares Held for Deferred Compensation Plans |
Balances related to shares held for deferred compensation plans are
as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands, except share amounts |
|
March
2016 |
|
|
December
2015 |
|
|
March
2015 |
|
|
Shares held for deferred compensation plans
|
|
|
550,149 |
|
|
|
562,649 |
|
|
|
647,304 |
|
|
Cost of shares held for deferred compensation plans
|
|
$ |
6,614 |
|
|
$ |
6,823 |
|
|
$ |
8,441 |
|
|
| Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity |
The deferred components of OCI are reported, net of related income
taxes, in accumulated OCI in stockholders’ equity, as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
March
2016 |
|
|
December
2015 |
|
|
March
2015 |
|
|
Foreign currency translation
|
|
$ |
(602,890 |
) |
|
$ |
(718,169 |
) |
|
$ |
(603,022 |
) |
|
Defined benefit pension plans
|
|
|
(361,311 |
) |
|
|
(372,195 |
) |
|
|
(367,841 |
) |
|
Derivative financial instruments
|
|
|
13,916 |
|
|
|
47,142 |
|
|
|
67,757 |
|
|
Marketable securities
|
|
|
— |
|
|
|
— |
|
|
|
714 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (loss)
|
|
$ |
(950,285 |
) |
|
$ |
(1,043,222 |
) |
|
$ |
(902,392 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Changes in Accumulated OCI, Net of Related Taxes |
The changes in accumulated OCI, net of related taxes, are as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended March
2016 |
|
|
|
|
| In thousands |
|
Foreign
Currency
Translation
|
|
|
Defined
Benefit
Pension Plans
|
|
|
Derivative
Financial
Instruments
|
|
|
Total |
|
|
|
Balance, December 2015
|
|
$ |
(718,169 |
) |
|
$ |
(372,195 |
) |
|
$ |
47,142 |
|
|
$ |
(1,043,222 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification
|
|
|
115,279 |
|
|
|
— |
|
|
|
(9,698 |
) |
|
|
105,581 |
|
|
|
Amounts reclassified from accumulated other comprehensive income
(loss)
|
|
|
— |
|
|
|
10,884 |
|
|
|
(23,528 |
) |
|
|
(12,644 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net other comprehensive income (loss)
|
|
|
115,279 |
|
|
|
10,884 |
|
|
|
(33,226 |
) |
|
|
92,937 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, March 2016
|
|
$ |
(602,890 |
) |
|
$ |
(361,311 |
) |
|
$ |
13,916 |
|
|
$ |
(950,285 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended March
2015 |
|
| In thousands |
|
Foreign
Currency
Translation
|
|
|
Defined
Benefit
Pension Plans
|
|
|
Derivative
Financial
Instruments
|
|
|
Marketable
Securities
|
|
|
Total |
|
|
Balance, December 2014
|
|
$ |
(356,941 |
) |
|
$ |
(377,134 |
) |
|
$ |
31,389 |
|
|
$ |
414 |
|
|
$ |
(702,272 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification
|
|
|
(246,081 |
) |
|
|
— |
|
|
|
41,282 |
|
|
|
300 |
|
|
|
(204,499 |
) |
|
Amounts reclassified from accumulated other comprehensive income
(loss)
|
|
|
— |
|
|
|
9,293 |
|
|
|
(4,914 |
) |
|
|
— |
|
|
|
4,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net other comprehensive income (loss)
|
|
|
(246,081 |
) |
|
|
9,293 |
|
|
|
36,368 |
|
|
|
300 |
|
|
|
(200,120 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, March 2015
|
|
$ |
(603,022 |
) |
|
$ |
(367,841 |
) |
|
$ |
67,757 |
|
|
$ |
714 |
|
|
$ |
(902,392 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
In thousands
Details About Accumulated Other
Comprehensive Income (Loss) Components
|
|
Affected Line Item in the
Consolidated Statements
of Income
|
|
|
|
|
|
|
| |
|
Three Months Ended March
|
|
| |
|
2016 |
|
|
2015 |
|
|
Amortization of defined benefit pension plans:
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred actuarial losses
|
|
(a) |
|
$ |
(16,306 |
) |
|
$ |
(15,497 |
) |
|
Deferred prior service costs
|
|
(a) |
|
|
(647 |
) |
|
|
(762 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total before tax |
|
|
(16,953 |
) |
|
|
(16,259 |
) |
|
|
Tax benefit |
|
|
6,069 |
|
|
|
6,966 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net of tax |
|
|
(10,884 |
) |
|
|
(9,293 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Gains (losses) on derivative financial instruments
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange contracts
|
|
Net sales |
|
|
(4,963 |
) |
|
|
(17,055 |
) |
|
Foreign exchange contracts
|
|
Cost of goods sold |
|
|
43,837 |
|
|
|
19,368 |
|
|
Foreign exchange contracts
|
|
Selling, general and administrative
expenses |
|
|
(978 |
) |
|
|
— |
|
|
Foreign exchange contracts
|
|
Other income (expense), net |
|
|
1,503 |
|
|
|
6,835 |
|
|
Interest rate contracts
|
|
Interest expense |
|
|
(1,104 |
) |
|
|
(1,053 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total before tax |
|
|
38,295 |
|
|
|
8,095 |
|
|
|
Tax expense |
|
|
(14,767 |
) |
|
|
(3,181 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net of tax |
|
|
23,528 |
|
|
|
4,914 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total reclassifications for the period
|
|
Net of tax |
|
$ |
12,644 |
|
|
$ |
(4,379 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
These accumulated OCI components are
included in the computation of net periodic pension cost (see Note
G for additional details). |
|