XML 52 R41.htm IDEA: XBRL DOCUMENT v3.23.1

Comprehensive Income and Equity (Tables)

3 Months Ended

Apr. 01, 2023

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 months ended April 1, 2023, is shown below (in millions):

			Three Months Ended April 1, 2023
Defined benefit plans:
Balance at beginning of period			$	(95.7)
Reclassification adjustments			(0.3)
Other comprehensive income recognized during the period			0.3
Balance at end of period			$	(95.7)
Derivative instruments and hedging:
Balance at beginning of period			$	33.4
Reclassification adjustments (net of tax benefit of $4.6 million)			(17.8)
Other comprehensive income recognized during the period (net of tax expense of $19.5 million)			76.2
Balance at end of period			$	91.8
Foreign currency translation:
Balance at beginning of period			$	(742.8)
Other comprehensive income recognized during the period (net of tax benefit of $0.2 million)			41.9
Balance at end of period			$	(700.9)
Total accumulated other comprehensive loss			$	(704.8)

A summary of changes, net of tax, in accumulated other comprehensive loss for the three months ended April 2, 2022, is shown below (in millions):

			Three Months Ended April 2, 2022
Defined benefit plans:
Balance at beginning of period			$	(199.4)
Reclassification adjustments (net of tax expense of $0.3 million)			1.4
Other comprehensive loss recognized during the period			(0.5)
Balance at end of period			$	(198.5)
Derivative instruments and hedging:
Balance at beginning of period			$	(18.6)
Reclassification adjustments (net of tax benefit of $1.4 million)			(6.6)
Other comprehensive income recognized during the period (net of tax expense of $7.9 million)			31.6
Balance at end of period			$	6.4
Foreign currency translation:
Balance at beginning of period			$	(552.2)
Other comprehensive loss recognized during the period (net of tax expense of $0.4 million)			(18.3)
Balance at end of period			$	(570.5)
Total accumulated other comprehensive loss			$	(762.6)

Schedule of Common Stock Repurchase Program

Share repurchases in the first three months of 2023 and the remaining purchase authorization as of April 1, 2023, are shown below (in millions, except for share and per share amounts):

Three Months Ended April 1, 2023																								As of April 1, 2023
Aggregate Repurchases						Cash Paid for Repurchases						Number of Shares						Average Price per Share (1)						Remaining Purchase Authorization
$	25.1					$	25.1					182,902						$	137.24					$	1,204.3

(1) Excludes commissions

Schedule of Dividends Declared and Paid

Dividends declared and paid are shown below (in millions):

			Three Months Ended
			April 1, 2023						April 2, 2022
Dividends declared			$	46.7					$	46.8
Dividends paid			46.8						47.4

X

- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

+ References

No definition available.

+ Details

Name:	us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=6405834&loc=d3e23309-112656

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6405813&loc=d3e23239-112655

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=6405834&loc=d3e23315-112656

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

+ Details

Name:	us-gaap_ScheduleOfTreasuryStockByClassTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration