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Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Tables) | 6 Months Ended
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Jul. 01, 2023
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 December 31, 2022 |  | $ | (6.4) |  |  | $ | (0.6) |  |  | $ | (1.1) |  |  | $ | 0.1 |  |  | $ | (8.0) |
Other comprehensive income (loss) before reclassifications |  | 0.0 |  |  | 0.0 |  |  | — |  |  | — |  |  | 0.1 |
Tax (expense) or benefit |  | — |  |  | (0.0) |  |  | — |  |  | — |  |  | (0.0) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | — |  |  | 0.1 |  |  | — |  |  | (0.1) |  |  | (0.0) |
Balance as of July 1, 2023 |  | $ | (6.3) |  |  | $ | (0.5) |  |  | $ | (1.1) |  |  | $ | — |  |  | $ | (8.0) |
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 1, 2022 |  | $ | (0.7) |  |  | $ | 0.1 |  |  | $ | (5.4) |  |  | $ | (0.7) |  |  | $ | (6.8) |
Other comprehensive income (loss) before reclassifications |  | (1.8) |  |  | (0.6) |  |  | — |  |  | 1.1 |  |  | (1.3) |
Tax (expense) or benefit |  | — |  |  | 0.1 |  |  | — |  |  | (0.3) |  |  | (0.1) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | — |  |  | 0.0 |  |  | — |  |  | 0.1 |  |  | 0.1 |
Balance as of July 2, 2022 |  | $ | (2.5) |  |  | $ | (0.4) |  |  | $ | (5.4) |  |  | $ | 0.3 |  |  | $ | (8.1) |
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 |  | Six Months Ended
Details about Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Statement Where Net Income is Presented |  | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Derivative financial instrument |  |  |  |  |  |  |  |
Interest rate swap | Interest expense, net |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | (0.2) |
| Income taxes |  | — |  |  | (0.0) |  |  | (0.0) |  |  | 0.0 |
Unrealized gains (losses) on debt securities |  |  |  |  |  |  |  |  |
Gain (loss) on sale of debt securities | Selling and administrative expenses |  | 0.0 |  |  | 0.0 |  |  | (0.1) |  |  | 0.0 |
| Income tax expense |  | (0.0) |  |  | (0.0) |  |  | 0.0 |  |  | (0.0) |
| Net of tax |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | (0.1) |
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:
| Six Months Ended
| July 1, 2023 |  | July 2, 2022
Dividends per common share | $ | 0.64 |  |  | $ | 0.63 |
Schedule of Share Repurchases | The following table summarizes shares repurchased and settled by the Corporation:
| Six Months Ended
| July 1, 2023 |  | July 2, 2022
Shares repurchased | — |  |  | 1.7 |
Average price per share | $ | — |  |  | $ | 38.11 |
Cash purchase price | $ | — |  |  | $ | (63.9) |
Prior year purchases settled in current year | — |  |  | (1.3) |
Shares repurchased per cash flow | $ | — |  |  | $ | (65.2) |

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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 -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481138/505-30-25-5 + Details
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