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Fair Value Measurements (Tables)
 3 Months Ended
Apr. 03, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring and Nonrecurring Basis The table below summarizes the valuation of our financial instruments carried at fair value by the applicable pricing categories (in millions):
April 3, 2021December 31, 2020
Level 1Level 2Level 3Level 1Level 2Level 3
Measured at fair value on a recurring basis:
Assets:
Investment securities
$2.9 $— $— $2.5 $— $— 
Foreign currency forward contracts
— 7.2 — — 9.8 — 
Cross-currency swap
— 5.7 — — 6.3 — 
Total assets$2.9 $12.9 $— $2.5 $16.1 $— 
Liabilities:
Foreign currency forward contracts$— $6.5 $— $— $7.9 $— 
Total liabilities$— $6.5 $— $— $7.9 $— 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The table below summarizes the change in fair value of the Royalty Pharma contingent milestone (in millions):
Three Months Ended
March 28,
2020
Beginning balance$95.3 
Change in fair value1.6 
Ending balance$96.9 
Schedule of Fair Value Assumptions The table below represents the volatility and rate of return:
Three Months Ended
March 28,
2020
Volatility35.0 %
Rate of return7.29 %
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments Our fixed rate long-term debt consisted of the following (in millions):
April 3,
2021		December 31,
2020
Level 1Level 2Level 1Level 2
Public Bonds
Carrying Value (excluding discount)$2,760.0 $— $2,760.0 $— 
Fair value$2,863.7 $— $3,031.1 $— 
Private placement note
Carrying value (excluding premium)$— $158.8 $— $164.9 
Fair value$— $176.6 $— $177.5