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Pension Plans and Postretirement Benefits (Tables)
 12 Months Ended
Jan. 02, 2022
Retirement Benefits [Abstract]  
Net Periodic Benefit Cost (Income) for Defined Benefit Pension Plans and Postretirement Benefit Plans
 Domestic  Foreign
  202120202019202120202019
Service cost - benefits earned during the period (in millions) $9.3 $9.3 $8.5 $1.3 $1.1 $0.9 
Domestic  Foreign
Pension non-service (income)/expense (in millions):202120202019202120202019
Interest cost on benefit obligation 21.6 26.5 32.4 0.7 0.9 1.2 
Expected return on plan assets (55.8)(56.0)(64.8)(1.0)(1.1)(1.4)
Amortization of prior service cost (3.6)(6.0)(6.0)0.1 0.1 0.1 
Amortization of actuarial loss 26.3 22.5 30.6 0.4 0.3 0.3 
Settlements/Curtailment —   — — —   — (0.5)
Pension non-service (income)/expense $(11.5)$(13.0)$(7.8)$0.2 $0.2 $(0.3)
Schedule of Assumptions Used The following assumptions were used to measure the net benefit income/cost within each respective year for the domestic qualified plans and the foreign plans:
Pension Plan Assumptions:Weighted average discount rateWeighted average increase in future compensation levelsExpected weighted-average long-term rate of return
Domestic plan - 2021
2.55% - 2.78%
2.75%
6.71% - 7.80%
Domestic plan - 2020
3.38% to 3.52%
2.75%
6.71% - 7.80%
Domestic plan - 2019
4.59%2.75%7.80%
Foreign plans - 2021
0.10% - 1.20%
1.00% - 2.50%
0.80% - 2.50%
Foreign plans - 2020
0.20% - 1.80%
1.00% - 2.50%
1.00% - 3.00%
Foreign plans - 2019
0.90% - 2.60%
1.00% - 2.50%
1.00% - 3.80%
The key assumptions used to measure the benefit obligation at each respective year-end were:
Key assumptions:Domestic PlansForeign Plans
202120202019202120202019
Discount rate
2.91% - 3.08%
2.55% to 2.78%
3.41%
0.20% - 1.80%
0.10% - 1.20%
0.20% - 1.80%
Salary growth rate2.75%
2.75%
2.75%
1.00% - 2.50%
1.00% - 2.50%
1.00% -2.50%
Schedule of Changes in Benefit Obligation
   Domestic Foreign
   2021202020212020
Changes in benefit obligation (in millions):      
Benefit obligation - beginning of year  $846.8 $805.7 $70.4 $60.3 
Service cost - benefits earned during the year  9.3 9.3 1.3 1.1 
Interest cost on projected benefit obligation  21.6 26.5 0.7 0.9 
Actuarial (gain) loss  (11.8)72.5 (7.4)5.8 
Benefits paid  (66.6)(67.2)(2.2)(1.7)
Other - including foreign currency, settlements/curtailments— — (2.6)4.0 
Benefit obligation - end of year  $799.3 $846.8 $60.2 $70.4 
Accumulated benefit obligation - end of year  $795.4 $842.0 $55.8 $65.3 
Reconciliation of the Beginning and Ending Balances of the Fair Value of Plan Assets
   Domestic Foreign
   2021202020212020
Changes in plan assets (in millions):      
Fair value of net plan assets - beginning of year  $854.5 $835.7 $54.4 $48.0 
Actual return on plan assets  74.1 83.5 0.3 4.0 
Employer contribution - other benefit plan  2.3 2.5 1.9 1.1 
Foreign currency changes  — — (1.6)3.4 
Benefits paid  (66.6)(67.2)(2.2)(1.7)
Other — — 0.1 (0.4)
Fair value of net plan assets - end of year  $864.3 $854.5 $52.9 $54.4 
Schedule of Funded Status and Amounts Recognized in Balance Sheet The following tables sets forth the funded status and amounts recognized in the consolidated balance sheets at year-end 2021 and 2020 for the domestic qualified and nonqualified pension plans and the foreign-based pension plans for benefits provided to certain employees (in millions):
   Domestic Foreign
   2021202020212020
Funded status  $65.0 $7.7 $(7.3)$(16.0)
       
Amounts recognized in the consolidated balance sheets:      
Prepaid pension asset long-term  $118.9 $67.9 $4.8 $— 
Accrued pension obligation long-term(44.4)(51.6)(11.7)(15.5)
Accrued pension obligation short-term  (3.7)(2.7)(0.4)(0.5)
Other long-term liabilities  (5.8)(5.9)— — 
Net amount recognized  $65.0 $7.7 $(7.3)$(16.0)
  
Amounts recognized in accumulated other comprehensive loss:      
Net prior service cost (credit)  $(3.0)$(6.6)$0.6 $0.8 
Net loss  397.7 454.2 3.4 10.6 
Net amount recognized, before tax effect  $394.7 $447.6 $4.0 $11.4 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets Amounts for pension plans with accumulated benefit obligations in excess of fair value of plan assets are as follows (in millions):
20212020
Projected benefit obligation$79.2 $300.4 
Accumulated benefit obligation$74.9 $290.8 
Fair value of plan assets$15.6 $224.3 
Estimated Future Benefit Payments
Estimated future pension plan benefit payments (in millions):   Domestic Foreign
2022  $62.3   $2.2 
2023  59.2   2.3 
2024  57.2   2.3 
2025  58.3   2.4 
2026  59.7   2.6 
2027-2031  267.9   13.0 
Total  $564.6   $24.8 
Schedule of Fair Value of Assets Category The following table sets forth the percentage of year-end market value by asset class for the pension plans:
Market value by asset class:  Domestic 
 Plan Assets
 % to Total		Foreign
 Plan Assets
 % to Total
   2021202020212020
Equity instruments  34 %38 %55 %52 %
Fixed income instruments  55 49 25 25 
Alternatives and other  11 13 20 23 
Total  100 %100 %100 %100 %
The fair values of the Company’s net pension assets, by fair value hierarchy, for both the U.S. and foreign pension plans as of January 2, 2022, by asset category are as follows (in millions):
Asset category:(a)Level 1Level 2Level 3Total
Cash and cash equivalents (b)$— $69.0 $— $69.0 
Equity securities2.4 230.0 — 232.4 
U.S. government securities and futures242.8 13.0 — 255.8 
Corporate bonds— 33.3 — 33.3 
Insurance contracts related to foreign plans— 15.5 — 15.5 
Fair value of net plan assets at the end of the year$245.2 $360.8 $— $606.0 
Investments measured at net asset value:
Alternatives$211.8 
Mutual funds (c)7.3 
Mortgage-backed securities54.7 
High yield bonds37.4 
Fair value of net plan assets at the end of the year$311.2 
a) There were no transfers of plan assets between the three levels of the fair value hierarchy during the year.
b) Reflects cash and cash equivalents held in overnight cash investments.
c) The mutual funds are invested in equity securities.
The fair values of the Company’s net pension assets, by fair value hierarchy, for both the U.S. and foreign pension plans as of January 3, 2021, by asset category are as follows (in millions):
Asset category: (a)Level 1Level 2Level 3Total
Cash and cash equivalents (b)$— $55.0 $— $55.0 
Equity securities44.6 218.9 — 263.5 
U.S. government securities and futures202.1 13.3 — 215.4 
Corporate bonds— 48.8 — 48.8 
Insurance contracts related to foreign plans— 16.9 — 16.9 
Fair value of net plan assets at the end of the year$246.7 $352.9 $— $599.6 
Investments measured at net asset value:
Alternatives$202.9 
Mutual funds (c)16.8 
Mortgage-backed securities52.5 
High yield bonds37.1 
Fair value of net plan assets at the end of the year$309.3 
(a) There were no transfers of plan assets between the three levels of the fair value hierarchy during the year.
(b) Reflects cash and cash equivalents held in overnight cash investments.
(c) The mutual funds are invested in equity securities.