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Leases (Tables)

9 Months Ended

Oct. 01, 2022

Leases [Abstract]

Right-of-Use Assets and Lease Obligations

Operating lease assets and obligations included in the accompanying condensed consolidated balance sheets are shown below (in millions):

			October 1, 2022						December 31, 2021
Right-of-use assets under operating leases:
Other long-term assets			$	652.3					$	627.9
Lease obligations under operating leases:
Accrued liabilities			$	130.4					$	125.6
Other long-term liabilities			555.8						523.6
			$	686.2					$	649.2

Maturity of Lease Obligations

Maturities of lease obligations as of October 1, 2022, are shown below (in millions):

			October 1, 2022
2022 (1)			$	41.1
2023			142.0
2024			123.0
2025			104.7
2026			92.5
Thereafter			270.4
Total undiscounted cash flows			773.7
Less: Imputed interest			(87.5)
Lease obligations under operating leases			$	686.2

(1) For the remaining three months

Cash Flow Information, Lease Expense, Weighted Average Lease Term and Discount Rate

Cash flow information related to operating leases is shown below (in millions):

			Nine Months Ended
			October 1, 2022						October 2, 2021
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations			$	166.6					$	200.0
Operating cash flows:
Cash paid related to operating lease obligations			$	121.5					$	121.7

In addition to the right-of-use assets obtained in exchange for operating lease obligations shown above, in the nine months ended October 1, 2022, the Company acquired $34.1 million of right-of-use assets and related lease liabilities in connection with its acquisition of Kongsberg ICS. See Note 3, "Acquisition of Kongsberg ICS."

Lease expense included in the accompanying condensed consolidated statements of comprehensive income (loss) is shown below (in millions):

			Three Months Ended												Nine Months Ended
			October 1, 2022						October 2, 2021						October 1, 2022						October 2, 2021
Operating lease expense			$	40.5					$	40.7					$	122.8					$	119.6
Short-term lease expense			5.7						5.0						16.5						13.6
Variable lease expense			2.1						1.7						6.2						6.1
Total lease expense			$	48.3					$	47.4					$	145.5					$	139.3

			October 1, 2022
Weighted average remaining lease term			Seven years
Weighted average discount rate			3.2		%

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- Definition

Assets And Liabilities, Lessee [Table Text Block]

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980

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