Indebtedness (Tables)

6 Months Ended

Jul. 01, 2017

Debt Disclosure [Abstract]

Schedule of debt

Total borrowings outstanding are summarized as follows (in millions):

				July 1, 2017			December 31, 2016
Term loans
	2014 term loan due December 5, 2019		(1)	$	428.6		$	420.7
Notes and Bonds
	Coupon	Due
	4.500%	May 23, 2017	(1)(2)	—			189.3
	5.125%	December 12, 2017	(1)(2)	342.9			315.6
	2.300%	November 8, 2018		—			600.0
	5.000%	May 23, 2019	(1)(2)	137.1			126.2
	3.500%	March 15, 2021		280.4			500.0
	3.500%	December 15, 2021		309.6			500.0
	5.105%	July 19, 2023	(1)(2)	154.3			142.0
	4.000%	November 15, 2023		215.6			800.0
	3.900%	December 15, 2024		700.0			700.0
	4.375%	March 15, 2026		700.0			700.0
	5.300%	November 15, 2043		90.5			400.0
	4.900%	December 15, 2044		303.9			400.0
	Total notes and bonds			3,234.3			5,373.1
Other financing				2.9			3.6
Unamortized premium (discount), net				29.1			33.0
Deferred financing fees				(20.1		)	(33.1		)
Total borrowings outstanding				3,674.8			5,797.3
	Current indebtedness			(406.9		)	(572.8		)
Total long-term debt less current portion				$	3,267.9		$	5,224.5

(1) Debt denominated in Euros subject to fluctuations in the euro-to-U.S. dollar exchange rate.

(2) Debt assumed from Omega.

Schedule of debt retirement

During the six months ended July 1, 2017, we reduced our outstanding debt through a variety of transactions (in millions):

Date	Series	Transaction Type	Principal Retired
April 1, 2017	2014 term loan due December 5, 2019	Scheduled quarterly payment	$	13.3
July 1, 2017	2014 term loan due December 5, 2019	Scheduled quarterly payment	14.5
May 8, 2017	$600.0 2.300% senior notes due 2018	Early redemption	600.0
May 23, 2017	€180.0 4.500% retail bonds due 2017	Scheduled maturity	201.3
June 15, 2017	$500.0 3.500% senior notes due 2021	Tender offer	190.4
June 15, 2017	$500.0 3.500% senior notes due 2021	Tender offer	219.6
June 15, 2017	$800.0 4.000% senior notes due 2023	Tender offer	584.4
June 15, 2017	$400.0 5.300% senior notes due 2043	Tender offer	309.5
June 15, 2017	$400.0 4.900% senior notes due 2044	Tender offer	96.1
			$	2,229.1

Schedule of extinguishment of debt [Table Text Block]

As a result of the debt retirements discussed above, we recorded a loss of $135.2 million during the three months ended July 1, 2017 in Loss on extinguishment of debt (in millions):

Premium on debt repayment	$	116.1
Transaction costs	3.8
Write-off of deferred financing fees	10.6
Write-off of remaining discount on bond	4.7
Total loss on extinguishment of debt	$	135.2