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Income Taxes (Tables)
 12 Months Ended
Jan. 01, 2023
Income Tax Disclosure [Abstract]  
Schedule of Income (loss) before Income Tax
Income (loss) before income taxes included the following (in millions):
202220212020
Domestic operations$490.3 $108.0 $289.5 
Foreign operations417.8 425.8 180.2 
Total income (loss) before income taxes$908.1 $533.8 $469.7 
Components of Income Tax Provision (Benefit) The provision for income taxes included the following (in millions):
202220212020
Current provision (benefit)   
Federal$47.2 $43.0 $25.3 
State14.8 10.8 7.0 
Foreign47.8 57.5 39.1 
Total current provision (benefit)109.8 111.3 71.4 
Deferred provision (benefit)   
Federal(39.0)(39.7)(0.5)
State0.3 (0.1)2.3 
Foreign48.1 17.0 (5.4)
Total deferred provision (benefit)9.4 (22.8)(3.6)
Provision (benefit) for income taxes$119.2 $88.5 $67.8 
Reconciliation of the Statutory Federal Income Tax Rate to the Actual Effective Income Tax Rate The following is a reconciliation of the statutory federal income tax rate to the actual effective income tax rate:
202220212020
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State and local taxes, net of federal benefit1.7 1.8 2.0 
Research and development tax credits(1.8)(3.4)(3.4)
Investment tax credits(0.5)(1.1)(1.0)
Foreign rate differential1.5 1.4 0.6 
Net accruals (reversals) for unrecognized tax benefits (7.9)(2.4)0.7 
Stock-based compensation(1.1)(2.5)(4.5)
U.S. export sales(2.0)(1.3)(2.5)
Acquisition-related costs— 1.7 — 
Other2.2 1.4 1.5 
Effective income tax rate13.1%16.6 %14.4 %
Schedule of Deferred Income Tax Assets and Liabilities The categories of assets and liabilities that have resulted in differences in the timing of the recognition of income and expense were as follows (in millions):
Deferred income tax assets:20222021
Long-term:  
Accrued liabilities$32.0 $52.6 
Inventory valuation30.3 41.5 
Accrued vacation8.3 9.6 
Deferred compensation and other benefit plans12.7 39.1 
Postretirement benefits other than pensions1.0 1.7 
Operating lease liabilities29.9 38.7 
Capitalization of research and development 70.8 34.1 
Tax credit and net operating loss carryforward44.6 47.4 
    Other 32.6 — 
Valuation allowance(16.1)(12.7)
Total deferred income tax assets246.1 252.0 
Deferred income tax liabilities:  
Long-term:  
Intangible amortization646.9 751.5 
Property, plant and equipment differences31.9 37.8 
Operating lease right-of-use assets 26.7 35.0 
Unremitted earnings of foreign subsidiaries3.1 15.9 
Other 12.9 7.9 
Total deferred income tax liabilities721.5 848.1 
Net deferred income tax liabilities $475.4 $596.1 
Rollforward of Unrecognized Tax Benefits
Unrecognized tax benefits (in millions):202220212020
Beginning of year$402.0 $32.3 $24.5 
Increase due to FLIR acquisition— 413.8 — 
Increase for tax positions taken during the current period2.7 6.3 9.4 
Increase in prior year tax positions0.2 2.5 5.1 
Reduction related to settlements with taxing authorities(223.3)(1.6)(1.9)
Reduction related to lapse of the statute of limitations(26.4)(20.7)(4.9)
Impact of exchange rate changes7.6 (30.6)0.1 
End of year$162.8 $402.0 $32.3