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Other Expense, Net | 3 Months Ended
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Apr. 01, 2023
Other Income and Expenses [Abstract] |
Other Expense, Net | Other Expense, Net Other expense, net includes non-income related taxes, foreign exchange gains and losses, gains and losses related to certain derivative instruments and hedging activities, gains and losses on the disposal of fixed assets, the non-service cost components of net periodic benefit cost and other miscellaneous income and expense. A summary of other expense, net is shown below (in millions):
| Three Months Ended |  |
| April 1, 2023 |  | April 2, 2022 |  |  |  |
Other expense | $ | 17.1 |  |  | $ | 30.2 |  |  |  |  |
Other income | (3.4) |  |  | (2.9) |  |  |  |  |
Other expense, net | $ | 13.7 |  |  | $ | 27.3 |  |  |  |  |
In the three months ended April 1, 2023, other expense includes net foreign currency transaction losses of $4.7 million, including gains of $1.0 million related to foreign exchange rate volatility in Russia, and a loss of $5.0 million related to the impairment of an affiliate. In the three months ended April 2, 2022, other expense includes net foreign currency transaction losses of $20.0 million, including losses of $11.4 million related to foreign exchange rate volatility in Russia

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI https://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI https://asc.fasb.org/topic&trid=49130413 + Details
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