Financial Instruments and Risk Management (Tables)

6 Months Ended

Jul. 02, 2022

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 2, 2022		January 1, 2022		July 3, 2021
Foreign exchange hedge contracts	$	347.0	$	296.7	$	293.9
Interest rate swap	304.3		311.3		—
Cross currency swap	—		—		79.8

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 2, 2022		January 1, 2022		July 3, 2021
Financial assets:
Foreign exchange hedge contracts	$	20.7	$	5.9	$	1.6
Interest rate swap	5.9		—		—
Financial liabilities:
Foreign exchange hedge contracts	$	—	$	(1.0)	$	(4.1)
Interest rate swap	—		(0.1)		—
Cross currency swap	—		—		(8.6)