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Financial Instruments and Risk Management (Tables)

3 Months Ended

Apr. 01, 2023

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 1, 2023						December 31, 2022						April 2, 2022
Foreign exchange hedge contracts			$	285.2					$	334.2					$	331.7
Interest rate swap			162.9						176.2						311.3

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 1, 2023						December 31, 2022						April 2, 2022
Financial assets:
Foreign exchange hedge contracts			$	4.4					$	7.5					$	9.1
Interest rate swap			4.5						6.1						5.0
Financial liabilities:
Foreign exchange hedge contracts			$	(2.5)					$	(1.3)					$	(1.0)

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Tabular disclosure of derivative assets at fair value.

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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.

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