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Indebtedness (Tables) | 6 Months Ended
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Jul. 02, 2022
Debt Disclosure [Abstract] |
Schedule of Debt | Total borrowings are summarized as follows (in millions):
|  |  |  |  | July 2, 2022 |  | December 31, 2021
Term loan |  |  |  |  |
| 2019 Term loan due August 15, 2022(1) |  |  | $ | — |  |  | $ | 600.0 |
| 2022 Term loan A due April 1, 2027 |  |  | 500.0 |  |  | — |
| 2022 Term loan B due April 1, 2029 |  |  | 1,100.0 |  |  | — |
| Total term loans |  |  | 1,600.0 |  |  | 600.0 |
Notes and Bonds |  |  |  |  |
| Coupon | Due |  |  |  |  |
| 5.105% | July 28, 2023(1,2) |  |  | $ | — |  |  | $ | 153.5 |
| 4.000% | November 15, 2023(1) |  |  | — |  |  | 215.6 |
| 3.900% | December 15, 2024 |  |  | 700.0 |  |  | 700.0 |
| 4.375% | March 15, 2026 |  |  | 700.0 |  |  | 700.0 |
| 4.400% | June 15, 2030(3) |  |  | 750.0 |  |  | 750.0 |
| 5.300% | November 15, 2043 |  |  | 90.5 |  |  | 90.5 |
| 4.900% | December 15, 2044 |  |  | 303.9 |  |  | 303.9 |
| Total notes and bonds |  |  | 2,544.4 |  |  | 2,913.5 |
Other financing | 22.8 |  |  | 25.8 |
Unamortized premium (discount), net | (17.3) |  |  | (4.8) |
Deferred financing fees | (33.0) |  |  | (14.0) |
Total borrowings outstanding | 4,116.9 |  |  | 3,520.5 |
| Current indebtedness | (30.8) |  |  | (603.8) |
Total long-term debt less current portion | $ | 4,086.1 |  |  | $ | 2,916.7 |
(1) Redeemed in connection with the New Senior Secured Credit Facilities entered into during the second quarter of 2022. (2) Debt denominated in euros subject to fluctuations in the euro-to-U.S. dollar exchange rate. (3) The coupon rate noted above is that as of July 2, 2022, following a step up in rate from 3.150% to 3.900%, effective December 16, 2021. Due to a credit ratings downgrade by S&P and Moody's in the first quarter of 2022, the interest rate has stepped up from 3.900% to 4.400% starting after June 15, 2022.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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