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Acquisitions (Tables) | 9 Months Ended
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Sep. 28, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table is a summary of the assets acquired, liabilities assumed and net cash consideration paid for the Power Products acquisition during 2018:
(in millions) | Fair Value |  | Useful Life
Accounts and notes receivable | $ | 38.3 |  |  |
Inventory | 64.3 |  |  |
Goodwill (A) (B) (C) | 355.5 |  |  |
Trade names | 111.0 |  |  | Indefinite
Customer relationships | 430.0 |  |  | 15 years
Property and equipment | 10.6 |  |  |
Other assets | 5.6 |  |  |
Total assets acquired | 1,015.3 |  |  |
Accounts payable (B) | 27.3 |  |  |
Accrued expenses (B) (C) | 22.0 |  |  |
Deferred tax liabilities (C) | 56.4 |  |  |
Total liabilities assumed | 105.7 |  |  |
Net cash consideration paid | $ | 909.6 |  |  |
(A) The goodwill recorded for the acquisition of Power Products is partially deductible for tax purposes. (B) Includes $4.4 million and $3.0 million of purchase accounting adjustments in the first and second quarters of 2019, respectively, primarily related to contingency reserves. (C) Includes $3.9 million of purchase accounting adjustments in the third quarter of 2019 primarily related to
Business Acquisition, Pro Forma Information [Table Text Block] | The pro forma results include adjustments primarily related to interest expense on the Term Loans and amortization of intangible assets.
| Three Months Ended |  | Nine Months Ended
(in millions) | Sep 28, 2019 |  | Sep 29, 2018 |  | Sep 28, 2019 |  | Sep 29, 2018
Pro forma Net sales | $ | 976.6 |  |  | $ | 1,069.6 |  |  | $ | 3,190.8 |  |  | $ | 3,310.0 |
Pro forma Operating earnings | 119.7 |  |  | 108.8 |  |  | 396.5 |  |  | 292.5 |
Pro forma Net earnings from continuing operations | (232.8 | ) |  | 74.7 |  |  | (43.1 | ) |  | 192.6 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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