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Comprehensive Income (Loss) and Equity (Tables) | 9 Months Ended
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Oct. 01, 2022
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 nine months ended October 1, 2022, is shown below (in millions):
| Three Months Ended October 1, 2022 |  | Nine Months Ended October 1, 2022
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (194.5) |  |  | $ | (199.4) |
Reclassification adjustments (net of tax expense of $0.2 million and $0.7 million in the three and nine months ended October 1, 2022, respectively) | 1.0 |  |  | 3.3 |
Other comprehensive income recognized during the period (net of tax impact of $— million in the three and nine months ended October 1, 2022) | 5.2 |  |  | 7.8 |
Balance at end of period | $ | (188.3) |  |  | $ | (188.3) |
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | (7.2) |  |  | $ | (18.6) |
Reclassification adjustments (net of tax benefit of $2.3 million and $5.6 million in the three and nine months ended October 1, 2022, respectively) | (9.2) |  |  | (23.6) |
Other comprehensive income recognized during the period (net of tax expense of $3.8 million and $10.0 million in the three and nine months ended October 1, 2022, respectively) | 16.1 |  |  | 41.9 |
Balance at end of period | $ | (0.3) |  |  | $ | (0.3) |
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (752.5) |  |  | $ | (552.2) |
Other comprehensive loss recognized during the period (net of tax expense of $2.7 million and $7.1 million in the three and nine months ended October 1, 2022, respectively) | (181.9) |  |  | (382.2) |
Balance at end of period | $ | (934.4) |  |  | $ | (934.4) |
Total accumulated other comprehensive loss | $ | (1,123.0) |  |  | $ | (1,123.0) |
A summary of changes, net of tax, in accumulated other comprehensive loss for the three and nine months ended October 2, 2021, is shown below (in millions):
| Three Months Ended October 2, 2021 |  | Nine Months Ended October 2, 2021
Defined benefit plans: |  |  |
Balance at beginning of period | $ | (276.3) |  |  | $ | (276.9) |
Reclassification adjustments (net of tax expense of $0.3 million and $1.0 million in the three and nine months ended October 2, 2021, respectively) | 2.0 |  |  | 6.0 |
Other comprehensive income (loss) recognized during the period (net of tax impact of $— million in the three and nine months ended October 2, 2021) | 2.5 |  |  | (0.9) |
Balance at end of period | $ | (271.8) |  |  | $ | (271.8) |
Derivative instruments and hedging: |  |  |
Balance at beginning of period | $ | 20.2 |  |  | $ | 12.6 |
Reclassification adjustments (net of tax benefit of $3.6 million and $6.9 million in the three and nine months ended October 2, 2021, respectively) | (13.9) |  |  | (27.3) |
Other comprehensive income (loss) recognized during the period (net of tax benefit (expense) of $3.5 million and ($1.7) million in the three and nine months ended October 2, 2021, respectively) | (14.3) |  |  | 6.7 |
Balance at end of period | $ | (8.0) |  |  | $ | (8.0) |
Foreign currency translation: |  |  |
Balance at beginning of period | $ | (471.7) |  |  | $ | (440.8) |
Other comprehensive loss recognized during the period (net of tax expense of $1.4 million and $2.9 million in the three and nine months ended October 2, 2021, respectively) | (51.1) |  |  | (82.0) |
Balance at end of period | $ | (522.8) |  |  | $ | (522.8) |
Total accumulated other comprehensive loss | $ | (802.6) |  |  | $ | (802.6) |
Schedule of Common Stock Repurchase Program | Share repurchases in the first nine months of 2022 and the remaining purchase authorization as of October 1, 2022, are shown below (in millions, except for share and per share amounts):
Nine Months Ended |  | As of October 1, 2022
October 1, 2022 |
Aggregate Repurchases |  | Cash Paid for Repurchases |  | Number of Shares |  | Average Price per Share (1) |  | Remaining Purchase Authorization
$ | 75.2 |  |  | $ | 75.2 |  |  | 567,412 |  |  | $ | 132.49 |  |  | $ | 1,254.5 |
(1) Excludes commissions
Schedule of Dividends Declared and Paid | Dividends declared and paid are shown below (in millions):
| Nine Months Ended
| October 1, 2022 |  | October 2, 2021
Dividends declared | $ | 139.8 |  |  | $ | 61.1 |
Dividends paid | 139.4 |  |  | 60.7 |

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