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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 28, 2018
Fair Value Disclosures [Abstract] |
Summary of Fair Value of Assets and Liabilities | The following table summarizes the Company's financial assets and liabilities, excluding pension assets, measured at fair value on a recurring basis (in millions):
|  |  |  | Fair Value Hierarchy
Description |  | As of September 28, 2018 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |
Demand and time deposits |  | $ | 11.3 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 0.3 |  |  | 0.3 |  |  | — |  |  | — |
During the quarter ended March 30, 2018, the Company reduced the contingent consideration payable relating to the second earn-out for the AXSEM acquisition to zero due to a revision in the Company's expectations regarding the likelihood that the earn-out would be achieved. The gain was recorded in other expense in the Consolidated Statements of Operations and Comprehensive Income.
|  |  |  | Fair Value Hierarchy
Description |  | As of December 31, 2017 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |
Demand and time deposits |  | $ | 71.7 |  |  | $ | 71.7 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 0.2 |  |  | 0.2 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 2.3 |
Summary of Fair Value, by Balance Sheet Grouping | The carrying amounts and fair values of the Company’s long-term borrowings (excluding capital lease obligations, real estate mortgages and equipment financing) are as follows (in millions):
| As of
| September 28, 2018 |  | December 31, 2017
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Long-term debt, including current portion |  |  |  |  |  |  |
Convertible notes | $ | 1,109.9 |  |  | $ | 1,445.4 |  |  | $ | 1,080.1 |  |  | $ | 1,596.7 |
Long-term debt | $ | 1,573.2 |  |  | $ | 1,584.4 |  |  | $ | 1,833.2 |  |  | $ | 1,845.4 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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