Fair Value Measurements - (Tables)

9 Months Ended

Oct. 02, 2020

Fair Value Disclosures [Abstract]

Summary of Fair Value of Assets and Liabilities

The following table summarizes the Company's financial assets and liabilities, excluding pension assets, measured at fair value on a recurring basis (in millions):

	As of		Fair Value Hierarchy
Description	October 2, 2020		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents:
Demand and time deposits	$	226.0	$	226.0	$	—	$	—

	As of		Fair Value Hierarchy
Description	December 31, 2019		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents:
Demand and time deposits	$	28.2	$	28.2	$	—	$	—

Summary of Fair Value, by Balance Sheet Grouping

The carrying amounts and fair values of the Company’s long-term borrowings (excluding finance lease obligations) are as follows (in millions): 

	As of
	October 2, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Long-term debt, including current portion
Convertible notes (1)	$	1,195.8	$	1,626.1	$	1,163.1	$	1,730.2
Other long-term debt (1)	3,043.4		2,958.0		2,449.3		2,427.8

(1)    Carrying amount shown is net of debt discount and debt issuance costs.