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FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Nonrecurring
Summarized below are the liability and asset recorded at the time of sale, along with the change in the liability and the asset during the three months ended March 31, 2018, and April 1, 2017.
 
 
Three months ended
 
 
March 31, 2018
 
April 1, 2017
 
 
Guarantees and Bonds Liability (1)
 
Indemnification Assets (1)
 
Guarantees and Bonds Liability (1)
 
Indemnification Assets (1)
Balance at beginning of year  
 
$
8.7

 
$
2.8

 
$
9.9

 
$
4.8

Reduction/Amortization for the period (2)
 
(0.7
)
 
(0.4
)
 
(0.5
)
 
(0.6
)
Impact of changes in foreign currency rates
 
0.3

 
0.1

 
0.3

 
0.2

Balance at end of period (3)
 
$
8.3

 
$
2.5

 
$
9.7

 
$
4.4

___________________________
(1) 
In connection with the sale, we estimated the fair value of the existing parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default. Additionally, we estimated the fair value of the cash collateral provided by Balcke Dürr and guarantee provided by mutares AG based on the terms and conditions and relative risk associated with each of these securities (unobservable inputs - Level 3).
(2) 
We reduce the liability generally at the earlier of the completion of the related underlying project milestones or the expiration of the guarantees or bonds. We amortize the asset based on the expiration terms of each of the securities. We record the reduction of the liability and the amortization of the asset to “Other income (expense), net.”
(3)