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Financial Instruments and Risk Management (Tables)

6 Months Ended

Jul. 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)			July 1, 2023						December 31, 2022						July 2, 2022
Foreign exchange hedge contracts			$	295.0					$	334.2					$	347.0
Interest rate swap			119.9						176.2						304.3

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)			July 1, 2023						December 31, 2022						July 2, 2022
Financial assets:
Foreign exchange hedge contracts			$	1.6					$	7.5					$	20.7
Interest rate swap			3.9						6.1						5.9
Financial liabilities:
Foreign exchange hedge contracts			$	(4.7)					$	(1.3)					$	—

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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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