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Comprehensive Income (Loss) and Equity (Tables) | 6 Months Ended
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Jul. 04, 2020
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 and six months ended June 29, 2019, is shown below (in millions):
| June 29, 2019
| Three Months Ended |  | Six Months Ended
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (172.5 | ) |  | $ | (172.8 | )
Reclassification adjustments (net of tax expense of $— million and $0.4 million in the three and six months ended June 29, 2019, respectively) | 1.6 |  |  | 3.2 |
Other comprehensive loss recognized during the period (net of tax impact of $— million in the three and six months ended June 29, 2019) | (3.0 | ) |  | (4.3 | )
Balance at end of period | $ | (173.9 | ) |  | $ | (173.9 | )
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | (9.0 | ) |  | $ | (9.7 | )
Reclassification adjustments (net of tax benefit of $2.7 million and $4.8 million in the three and six months ended June 29, 2019, respectively) | (10.0 | ) |  | (17.1 | )
Other comprehensive income recognized during the period (net of tax expense of $5.0 million and $7.3 million in the three and six months ended June 29, 2019, respectively) | 17.8 |  |  | 25.6 |
Balance at end of period | $ | (1.2 | ) |  | $ | (1.2 | )
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (530.0 | ) |  | $ | (523.3 | )
Other comprehensive income recognized during the period (net of tax impact of $— million in the three and six months ended June 29, 2019) | 6.9 |  |  | 0.2 |
Balance at end of period | $ | (523.1 | ) |  | $ | (523.1 | )
Total accumulated other comprehensive loss | $ | (698.2 | ) |  | $ | (698.2 | )
A summary of changes, net of tax, in accumulated other comprehensive loss for the three and six months ended July 4, 2020, is shown below (in millions):
| July 4, 2020
| Three Months Ended |  | Six Months Ended
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (208.7 | ) |  | $ | (217.6 | )
Reclassification adjustments (net of tax expense of $0.4 million and $0.7 million in the three and six months ended July 4, 2020, respectively) | 0.8 |  |  | 2.1 |
Other comprehensive income (loss) recognized during the period (net of tax impact of $— million in the three and six months ended July 4, 2020) | (3.8 | ) |  | 3.8 |
Balance at end of period | $ | (211.7 | ) |  | $ | (211.7 | )
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | (111.3 | ) |  | $ | 9.8 |
Reclassification adjustments (net of tax expense of $3.1 million and $1.7 million in the three and six months ended July 4, 2020, respectively) | 11.0 |  |  | 5.3 |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of ($12.0) million and $15.9 million in the three and six months ended July 4, 2020, respectively) | 49.9 |  |  | (65.5 | )
Balance at end of period | $ | (50.4 | ) |  | $ | (50.4 | )
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (729.3 | ) |  | $ | (564.9 | )
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $2.6 million and ($2.2) million in the three and six months ended July 4, 2020, respectively) | 68.4 |  |  | (96.0 | )
Balance at end of period | $ | (660.9 | ) |  | $ | (660.9 | )
Total accumulated other comprehensive loss | $ | (923.0 | ) |  | $ | (923.0 | )
Common Stock Repurchase Program | Share repurchases prior to the suspension are shown below (in millions except for shares and per share amounts):
Six Months Ended |  | As of
July 4, 2020 |  | July 4, 2020
Aggregate Repurchases |  | Cash paid for Repurchases |  | Number of Shares |  | Average Price per Share (1) |  | Remaining Purchase Authorization
$ | 70.0 |  |  | $ | 70.0 |  |  | 641,149 |  | $ | 109.22 |  |  | $ | 1,430.0 |
(1) Excludes commissions
Dividends Declared and Paid | Dividends declared and paid are shown below (in millions):
| Six Months Ended
| July 4, 2020 |  | June 29, 2019
Dividends declared | $ | 46.8 |  |  | $ | 94.6 |
Dividends paid | 47.9 |  |  | 95.6 |

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