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Financial Instruments Financial Instruments (Tables) | 3 Months Ended
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Mar. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Instruments | As of March 28, 2020, December 31, 2019 and March 30, 2019, the fair values of the Company’s derivative instruments were:
(in millions) |  |  |  |  |  |  |  |  |  |  |  |
|  | Derivative Assets |  | Derivative Liabilities
Instrument |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
|  |  |  | Mar 28, 2020 |  | Dec 31, 2019 |  | Mar 30, 2019 |  |  |  | Mar 28, 2020 |  | Dec 31, 2019 |  | Mar 30, 2019
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 9.7 |  |  | $ | 4.1 |  |  | $ | 5.9 |  |  | Accrued expenses |  | $ | 3.3 |  |  | $ | 2.3 |  |  | $ | 0.2 |
Commodity contracts |  | Prepaid expenses and other |  | — |  |  | — |  |  | — |  |  | Accrued expenses |  | 0.1 |  |  | — |  |  | — |
Total |  |  |  | $ | 9.7 |  |  | $ | 4.1 |  |  | $ | 5.9 |  |  |  |  | $ | 3.4 |  |  | $ | 2.3 |  |  | $ | 0.2 |
Derivatives Designated as Fair Value Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | Prepaid expenses and other |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Accrued expenses |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |
Interest rate contracts |  | Other long-term assets |  | — |  |  | — |  |  | 0.9 |  |  | Other long-term liabilities |  | — |  |  | — |  |  | 0.4 |
Total |  |  |  | $ | — |  |  | $ | — |  |  | $ | 0.9 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 0.6 |
Other Hedging Activity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other |  | $ | 2.6 |  |  | $ | 0.1 |  |  | $ | 1.0 |  |  | Accrued expenses |  | $ | 0.2 |  |  | $ | 0.9 |  |  | $ | 0.0 |
Effect of Derivative Instruments on the Condensed Consolidated Statements of Comprehensive Income | The effect of derivative instruments on the Condensed Consolidated Statements of Comprehensive Income for the three months ended March 28, 2020 and March 30, 2019 was:
(in millions) |  |  |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedging Instruments |  | Amount of Gain (Loss) on Derivatives Recognized in Accumulated Other Comprehensive Loss | Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings |  | Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings
|  | Mar 28, 2020 |  | Mar 30, 2019 |  |  |  | Mar 28, 2020 |  | Mar 30, 2019
Interest rate contracts |  | $ | — |  |  | $ | — |  |  | Interest expense |  | $ | (0.1 | ) |  | $ | (0.1 | )
Foreign exchange contracts |  | 9.5 |  |  | 1.5 |  |  | Cost of sales |  | 2.7 |  |  | 2.8 |
Commodity contracts |  | (0.1 | ) |  | — |  |  | Cost of sales |  | — |  |  | — |
Total |  | $ | 9.4 |  |  | $ | 1.5 |  |  |  |  | $ | 2.6 |  |  | $ | 2.7 |
Derivatives Designated as Fair Value Hedging Instruments |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
|  |  |  | Mar 28, 2020 |  | Mar 30, 2019
Interest rate contracts |  | Interest expense |  | $ | 0.2 |  |  | $ | (0.1 | )
Other Hedging Activity |  | Location of Gain (Loss) on Derivatives Recognized in Earnings |  | Amount of Gain (Loss) on Derivatives Recognized in Earnings
|  |  |  | March 28, 2020 |  | March 30, 2019
Foreign exchange contracts |  | Cost of sales |  | $ | 4.8 |  |  | $ | 1.5 |
Foreign exchange contracts |  | Other income (expense), net |  | 1.1 |  |  | 0.0 |
Total |  |  |  | $ | 5.9 |  |  | $ | 1.5 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
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