XML 60 R38.htm IDEA: XBRL DOCUMENT
v3.20.2

Income Taxes (Tables) | 6 Months Ended
--- | ---
Jul. 04, 2020
Income Tax Disclosure [Abstract] |
Provision for Income Taxes and Corresponding Effective Tax Rate | A summary of the provision (benefit) for income taxes and the corresponding effective tax rate for the three and six months ended July 4, 2020 and June 29, 2019, is shown below (in millions, except effective tax rates):
| Three Months Ended |  | Six Months Ended
| July 4, 2020 |  | June 29, 2019 |  | July 4, 2020 |  | June 29, 2019
Provision (benefit) for income taxes | $ | (41.0 | ) |  | $ | 73.3 |  |  | $ | (14.5 | ) |  | $ | 116.4 |
Pretax income (loss) before equity in net income of affiliates | $ | (318.3 | ) |  | $ | 266.9 |  |  | $ | (209.8 | ) |  | $ | 553.8 |
Effective tax rate | 12.9 | % |  | 27.5 | % |  | 6.9 | % |  | 21.0 | %
Schedule of Tax Benefits (Expense) | In addition, the Company recognized tax benefits (expense) related to the significant, discrete items shown below (in millions):
| Six Months Ended
| July 4, 2020 |  | June 29, 2019
Restructuring charges and various other items | $ | 31.1 |  |  | $ | 26.6 |
Valuation allowances on deferred tax assets of foreign subsidiaries | (22.0 | ) |  | (10.4 | )
Share-based compensation | (0.2 | ) |  | 3.2 |
Change in tax status of certain affiliates | — |  |  | 18.4 |
| $ | 8.9 |  |  | $ | 37.8 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration