Pension and Other Post-Retirement Benefits (Tables)

6 Months Ended

Jul. 01, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Change in projected benefit obligations

	Defined Benefit Plans
	For the Three  Months Ended				For the Six Months Ended
Components of Net Periodic Pension Expense/(Income)	July 1, 2021		July 2, 2020		July 1, 2021		July 2, 2020
Service cost	$	10.9	$	0.3	$	21.7	$	0.5
Interest cost	13.8		6.7		27.5		14.7
Expected return on plan assets	(39.6)		(15.6)		(79.0)		(32.9)
Amortization of net loss	—		0.2		—		0.2
Curtailment loss (gain) (2)	—		0.9		—		33.9
Settlement loss (3)	(0.1)		5.1		(0.1)		5.1
Special termination benefits (1)	—		8.3		—		33.0
Net periodic pension expense (income)	$	(15.0)	$	5.9	$	(29.9)	$	54.5

	Other Benefits
	For the Three Months Ended				For the Six Months Ended
Components of Other Benefit Expense	July 1, 2021		July 2, 2020		July 1, 2021		July 2, 2020
Service cost	$	0.2	$	0.1	$	0.4	$	0.4
Interest cost	0.1		0.3		0.2		0.5
Amortization of prior service cost	(0.2)		(0.2)		(0.4)		(0.4)
Amortization of net gain	(0.4)		(0.4)		(0.8)		(0.9)
Curtailment (gain) loss (2)	—		0.1		—		(0.2)
Special termination benefits (1)	$	—	$	0.2	—		12.0
Net periodic other benefit expense (income)	$	(0.3)	$	0.1	$	(0.6)	$	11.4

(1) Special termination benefits for the three and six months ended July 2, 2020 is a combination of pension value plan and postretirement medical plan changes offset by a reduction in the Company's net benefit obligation. For the three months and six months ended July 2, 2020 special termination benefits, curtailment accounting, and the remeasurement of the pension assets and obligations resulted in a ($85.2) and $31.5 impact to OCI, respectively. For the three months and six months ended July 2, 2020, retiree medical resulted in a ($2.0) and $2.3 impact to OCI, respectively. This impact is included in the Company’s Condensed Consolidated Statements of Comprehensive (Loss) income.

(2) For the three and six months ended July 2, 2020, the Company's Voluntary Retirement Program ("VRP") resulted in an estimated 16% and 12% reduction in future working lifetime for the pension value plan and postretirement medical plan resulting in a curtailment accounting charge of $0.7 and $33.7, respectively. The charges are included in other (expense) income in the Company's Condensed Consolidated Statements of Operations.

(3)    For the three months and six months ended July 2, 2020, settlement accounting under ASC Topic 715 was triggered, as the lump sums paid to date as part of the VRP exceeded the estimated service cost and interest cost. The Company recognized a settlement loss of $5.1 for the three months and six months ended July 2, 2020.

The components of net periodic pension expense (income) and other benefit expense, other than the service cost component, are included in other (expense) income in the Company's Condensed Consolidated Statements of Operations.