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Fair Value Measurements - (Tables) | 9 Months Ended
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Oct. 01, 2021
Fair Value Disclosures [Abstract] |
Summary of Fair Value Available-for-sale Securities | The following table summarizes the Company's financial assets and liabilities, excluding pension assets, disaggregated by the security type, measured at fair value on a recurring basis (in millions):
As of October 1, 2021 |  |  | Fair Value Level
Description |  | Amortized Cost |  | Unrealized gains |  | Unrealized losses |  | Fair value |  | Level 1 |  | Level 2 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and time deposits |  | $ | 8.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 8.1 |  |  | $ | 8.1 |  |  | $ | — |  |  |
Money market funds |  | 2.3 |  |  | — |  |  | — |  |  | 2.3 |  |  | 2.3 |  |  | — |  |  |
Corporate bonds |  | 2.5 |  |  | — |  |  | — |  |  | 2.5 |  |  | — |  |  | 2.5 |  |  |
Commercial paper |  | 4.0 |  |  | — |  |  | — |  |  | 4.0 |  |  | — |  |  | 4.0 |  |  |
Other current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | 12.7 |  |  | — |  |  | — |  |  | 12.7 |  |  | — |  |  | 12.7 |  |  |
Certificate of deposit |  | 2.0 |  |  | — |  |  | — |  |  | 2.0 |  |  | — |  |  | 2.0 |  |  |
Commercial paper |  | 4.9 |  |  | — |  |  | — |  |  | 4.9 |  |  | 2.9 |  |  | 2.0 |  |  |
US Treasury bonds |  | 0.4 |  |  | — |  |  | — |  |  | 0.4 |  |  | — |  |  | 0.4 |  |  |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | 19.0 |  |  | — |  |  | — |  |  | 19.0 |  |  | — |  |  | 19.0 |  |  |
Certificate of deposit |  | 0.5 |  |  | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |  |  |
US Treasury bonds |  | 1.5 |  |  | — |  |  | — |  |  | 1.5 |  |  | — |  |  | 1.5 |  |  |
The investments included in other assets have maturity dates ranging between one and five years.
As of December 31, 2020 |  |  | Fair Value Level
Description |  | Amortized Cost |  | Unrealized gains |  | Unrealized losses |  | Fair value |  | Level 1 |  | Level 2 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Demand and time deposits |  | $ | 8.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 8.5 |  |  | $ | 8.5 |  |  | $ | — |  |  |
Summary of Fair Value, by Balance Sheet Grouping | The carrying amounts and fair values of the Company’s long-term borrowings were as follows (in millions):
| As of
| October 1, 2021 |  | December 31, 2020
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Long-term debt, including current portion (1) |  |  |  |  |  |  |
Convertible notes | $ | 845.7 |  |  | $ | 1,443.1 |  |  | $ | 515.6 |  |  | $ | 967.1 |
Other long-term debt | 2,267.8 |  |  | 2,259.7 |  |  | 2,975.7 |  |  | 2,966.8 |
(1) Carrying amounts shown are net of debt discount and debt issuance costs.

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