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Inventories

6 Months Ended

Jul. 02, 2022

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):

			July 2, 2022						December 31, 2021
Raw materials			$	1,260.3					$	1,171.0
Work-in-process			125.5						119.9
Finished goods			390.7						453.4
Reserves			(163.7)						(172.4)
Inventories			$	1,612.8					$	1,571.9

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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 https://asc.fasb.org/topic&trid=2126998

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