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Inventories

9 Months Ended

Oct. 02, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method. Finished goods and work-in-process inventories include material, labor and manufacturing overhead costs.

A summary of inventories is shown below (in millions):

			October 2, 2021						December 31, 2020
Raw materials			$	1,250.1					$	1,051.6
Work-in-process			124.7						109.8
Finished goods			545.5						396.9
Reserves			(154.3)						(157.2)
Inventories			$	1,766.0					$	1,401.1

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- References

No definition available.

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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