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Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Tables) | 9 Months Ended
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Oct. 01, 2022
Equity [Abstract] |
Schedule of Components of Accumulated Other Comprehensive Income and Changes in Accumulated Other Comprehensive Income, Net of Tax | The following tables summarize the components of accumulated other comprehensive income (loss) and the changes in accumulated other comprehensive income (loss), net of tax, as applicable:
|  | Foreign Currency Translation Adjustment |  | Unrealized Gains (Losses) on Debt Securities |  | Pension and Post-retirement Liabilities |  | Derivative Financial Instrument |  | Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2022 |  | $ | (0.7) |  |  | $ | 0.1 |  |  | $ | (5.4) |  |  | $ | (0.7) |  |  | $ | (6.8) |
Other comprehensive income (loss) before reclassifications |  | (2.2) |  |  | (1.0) |  |  | — |  |  | 1.1 |  |  | (2.1) |
Tax (expense) or benefit |  | — |  |  | 0.2 |  |  | — |  |  | (0.3) |  |  | (0.1) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | (3.3) |  |  | — |  |  | — |  |  | 0.0 |  |  | (3.3) |
Balance as of October 1, 2022 |  | $ | (6.2) |  |  | $ | (0.7) |  |  | $ | (5.4) |  |  | $ | 0.2 |  |  | $ | (12.2) |
Amounts in parentheses indicate reductions to equity.
|  | Foreign Currency Translation Adjustment |  | Unrealized Gains (Losses) on Debt Securities |  | Pension and Post-retirement Liabilities |  | Derivative Financial Instrument |  | Accumulated Other Comprehensive Income (Loss)
Balance as of January 2, 2021 |  | $ | (1.1) |  |  | $ | 0.4 |  |  | $ | (6.7) |  |  | $ | (1.8) |  |  | $ | (9.2) |
Other comprehensive income (loss) before reclassifications |  | 0.1 |  |  | (0.2) |  |  | — |  |  | 0.0 |  |  | (0.1) |
Tax (expense) or benefit |  | — |  |  | 0.0 |  |  | — |  |  | (0.0) |  |  | 0.0 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | — |  |  | — |  |  | — |  |  | 0.5 |  |  | 0.5 |
Balance as of October 2, 2021 |  | $ | (1.0) |  |  | $ | 0.2 |  |  | $ | (6.7) |  |  | $ | (1.2) |  |  | $ | (8.6) |
Amounts in parentheses indicate reductions to equity.
Schedule of Reclassification from Accumulated Other Comprehensive Income | The following table details the reclassifications from accumulated other comprehensive income (loss):
|  |  | Three Months Ended |  | Nine Months Ended
Details about Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Statement Where Net Income is Presented |  | October 1, 2022 |  | October 2, 2021 |  | October 1, 2022 |  | October 2, 2021
Derivative financial instrument |  |  |  |  |  |  |  |
Interest rate swap | Interest expense, net |  | $ | 0.1 |  |  | $ | (0.3) |  |  | $ | (0.1) |  |  | $ | (0.7) |
| Income taxes |  | (0.0) |  |  | 0.1 |  |  | 0.0 |  |  | 0.2 |
Foreign currency translation |  |  |  |  |  |  |  |  |
Lamex divestiture | Gain on sale of subsidiary |  | 3.3 |  |  | — |  |  | 3.3 |  |  | — |
| Net of tax |  | $ | 3.4 |  |  | $ | (0.2) |  |  | $ | 3.3 |  |  | $ | (0.5) |
Amounts in parentheses indicate reductions to profit.
Schedule of Dividends Declared and Paid Per Share | The Corporation declared and paid cash dividends per common share as follows:
| Nine Months Ended
| October 1, 2022 |  | October 2, 2021
Dividends per common share | $ | 0.950 |  |  | $ | 0.925 |
Schedule of Share Repurchases | The following table summarizes shares repurchased and settled by the Corporation:
| Nine Months Ended
| October 1, 2022 |  | October 2, 2021
Shares repurchased | 1.7 |  |  | 0.5 |
Average price per share | $ | 38.11 |  |  | $ | 39.52 |
Cash purchase price | $ | (63.9) |  |  | $ | (19.8) |
Purchases unsettled as of quarter end | — |  |  | 1.3 |
Prior year purchases settled in current year | (1.3) |  |  | — |
Shares repurchased per cash flow | $ | (65.2) |  |  | $ | (18.5) |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 25 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653 + Details
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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
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