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Fair Value Measurements (Tables)

9 Months Ended

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

X

- 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

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- References

No definition available.

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X

- 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

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