XML 45 R36.htm IDEA: XBRL DOCUMENT v3.23.2

EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jul. 01, 2023

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit (Income) Expense

Net periodic benefit (income) expense for our pension and postretirement plans includes the following components:

Domestic Pension Plans

			Three months ended												Six months ended
			July 1, 2023						July 2, 2022						July 1, 2023						July 2, 2022
Interest cost			$	3.3					$	2.3					$	6.6					$	4.6
Expected return on plan assets			(2.2)						(2.1)						(4.4)						(4.2)
Settlement and actuarial losses (1)			—						3.8						—						3.8
Net periodic pension benefit expense			$	1.1					$	4.0					$	2.2					$	4.2

__________________________

(1)     Consists of an actuarial loss of $1.5 and a settlement loss of $2.3 for the three and six months ended July 2, 2022.

Foreign Pension Plans

			Three months ended												Six months ended
			July 1, 2023						July 2, 2022						July 1, 2023						July 2, 2022
Interest cost			$	1.4					$	1.0					$	2.8					$	2.0
Expected return on plan assets			(1.6)						(1.5)						(3.2)						(3.0)
Net periodic pension benefit income			$	(0.2)					$	(0.5)					$	(0.4)					$	(1.0)

Postretirement Plans

			Three months ended												Six months ended
			July 1, 2023						July 2, 2022						July 1, 2023						July 2, 2022
Interest cost			$	0.3					$	0.3					$	0.6					$	0.6
Amortization of unrecognized prior service credits			(1.0)						(1.1)						(2.0)						(2.2)
Recognized net actuarial losses (1)			—						—						—						0.3
Net periodic postretirement benefit income			$	(0.7)					$	(0.8)					$	(1.4)					$	(1.3)

__________________________ 

(1)     The six months ended July 2, 2022 includes the impact of the transfer of the retiree life insurance benefits obligation.

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration