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Comprehensive Income and Equity (Tables)

3 Months Ended

Mar. 30, 2019

Equity [Abstract]

Summary of Changes, Net of Tax, in Accumulated Other Comprehensive Loss

A summary of changes, net of tax, in accumulated other comprehensive loss for the three months ended March 30, 2019, is shown below (in millions):

	Three Months Ended   March 30, 2019
Defined benefit plans:
Balance at beginning of period	$	(172.8	)
Reclassification adjustments (net of tax expense of $0.4 million)	1.6
Other comprehensive loss recognized during the period (net of tax impact of $— million)	(1.3		)
Balance at end of period	$	(172.5	)
Derivative instruments and hedging:
Balance at beginning of period	$	(9.7	)
Reclassification adjustments (net of tax benefit of $2.1 million)	(7.1		)
Other comprehensive income recognized during the period (net of tax expense of $2.3 million)	7.8
Balance at end of period	$	(9.0	)
Foreign currency translation:
Balance at beginning of period	$	(523.3	)
Other comprehensive loss recognized during the period (net of tax impact of $— million)	(6.7		)
Balance at end of period	$	(530.0	)
Total accumulated other comprehensive loss	$	(711.5	)

A summary of changes, net of tax, in accumulated other comprehensive loss for the three months ended March 31, 2018, is shown below (in millions):

	Three Months Ended   March 31, 2018
Defined benefit plans:
Balance at beginning of period	$	(184.0	)
Reclassification adjustments (net of tax expense of $0.3 million)	1.3
Other comprehensive income recognized during the period (net of tax impact of $— million)	1.0
Balance at end of period	$	(181.7	)
Derivative instruments and hedging:
Balance at beginning of period	$	(22.9	)
Reclassification adjustments (net of tax benefit of $0.7 million)	(2.4		)
Other comprehensive income recognized during the period (net of tax expense of $11.0 million)	39.8
Balance at end of period	$	14.5
Foreign currency translation:
Balance at beginning of period	$	(306.5	)
Other comprehensive income recognized during the period (net of tax impact of $— million)	92.9
Balance at end of period	$	(213.6	)
Total accumulated other comprehensive loss	$	(380.8	)

Common Stock Repurchase Program

Share repurchases in the first three months of 2019 are shown below (in millions except for shares and per share amounts):

Three Months Ended														As of
March 30, 2019														March 30, 2019
Aggregate Repurchases (1)				Cash paid for Repurchases				Number of Shares		Average Price per Share (2)				Remaining Purchase Authorization
$	117.9			$	122.2			804,270		$	146.56			$	1,465.2

⁽¹⁾ Includes $83.0 million of repurchases made prior to the increased authorization

⁽²⁾ Excludes commissions

Dividends Declared and Paid

Dividends declared and paid are shown below (in millions):

	Three Months Ended
	March 30, 2019				March 31, 2018
Dividends declared	$	47.7			$	47.7
Dividends paid	49.5				50.7

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