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Comprehensive Income (Loss) and Equity (Tables) | 6 Months Ended
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Jul. 03, 2021
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 July 3, 2021, is shown below (in millions):
| Three Months Ended July 3, 2021 |  | Six Months Ended July 3, 2021
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (275.6) |  |  | $ | (276.9) |
Reclassification adjustments (net of tax expense of $0.3 million and $0.7 million in the three and six months ended July 3, 2021, respectively) | 1.8 |  |  | 4.0 |
Other comprehensive loss recognized during the period (net of tax impact of $— million in the three and six months ended July 3, 2021) | (2.5) |  |  | (3.4) |
Balance at end of period | $ | (276.3) |  |  | $ | (276.3) |
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | 9.6 |  |  | $ | 12.6 |
Reclassification adjustments (net of tax benefit of $1.9 million and $3.3 million in the three and six months ended July 3, 2021, respectively) | (8.1) |  |  | (13.4) |
Other comprehensive income recognized during the period (net of tax expense of $4.5 million and $5.2 million in the three and six months ended July 3, 2021, respectively) | 18.7 |  |  | 21.0 |
Balance at end of period | $ | 20.2 |  |  | $ | 20.2 |
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (524.4) |  |  | $ | (440.8) |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $0.6 million and ($1.5) million in the three and six months ended July 3, 2021, respectively) | 52.7 |  |  | (30.9) |
Balance at end of period | $ | (471.7) |  |  | $ | (471.7) |
Total accumulated other comprehensive loss | $ | (727.8) |  |  | $ | (727.8) |
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):
| Three Months Ended July 4, 2020 |  | Six Months Ended July 4, 2020
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) |
Schedule of Share Repurchases | Share repurchases since the reinstatement through July 3, 2021, are shown below (in millions except for shares and per share amounts):
Six Months Ended |  | As of July 3, 2021
July 3, 2021 (1) |
Aggregate Repurchases |  | Cash Paid for Repurchases |  | Number of Shares |  | Average Price per Share (2) |  | Remaining Purchase Authorization
$ | 31.2 |  |  | $ | 29.2 |  |  | 169,814 |  |  | $ | 183.56 |  |  | $ | 1,398.8 |
(1) From reinstatement through July 3, 2021 (2) Excludes commissions Dividends declared and paid are shown below (in millions):
| Six Months Ended
| July 3, 2021 |  | July 4, 2020 (1)
Dividends declared | $ | 30.6 |  |  | $ | 46.8 |
Dividends paid | 30.8 |  |  | 47.9 |
(1) Prior to March 2020 suspension

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