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Financial Instruments and Risk Management (Tables)

3 Months Ended

Apr. 03, 2021

Investments, All Other Investments [Abstract]

Schedule of Derivative Instruments [Table Text Block]

The notional amounts of the Company’s derivative instruments are as follows:


(Dollars in millions)	April 3, 2021		January 2, 2021		March 28, 2020

Foreign exchange hedge contracts	$	231.3	$	250.7	$	202.1

Interest rate swap	—		—		335.2
Cross currency swap	79.8		79.8		79.8

Schedule of Derivative Assets at Fair Value [Table Text Block]

The recorded fair values of the Company’s derivative instruments are as follows:




(In millions)	April 3, 2021		January 2, 2021		March 28, 2020
Financial assets:
Foreign exchange hedge contracts	$	1.4	$	—	$	6.6



Financial liabilities:
Foreign exchange hedge contracts	$	(4.6)	$	(8.8)	$	—

Interest rate swap	—		—		(9.7)
Cross currency swap	(7.9)		(10.8)		(1.9)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details