Indebtedness (Tables)

3 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Total borrowings are summarized as follows (in millions):

			April 2, 2022		December 31, 2021
Term loan
	2019 Term loan due August 15, 2022(1)		$	600.0	$	600.0
Notes and Bonds
	Coupon	Due
	5.105%	July 28, 2023(2)	$	149.3	$	153.5
	4.000%	November 15, 2023	215.6		215.6
	3.900%	December 15, 2024	700.0		700.0
	4.375%	March 15, 2026	700.0		700.0
	3.900%	June 15, 2030(3)	750.0		750.0
	5.300%	November 15, 2043	90.5		90.5
	4.900%	December 15, 2044	303.9		303.9
	Total notes and bonds		2,909.3		2,913.5
Other financing			24.3		25.8
Unamortized premium (discount), net			(5.2)		(4.8)
Deferred financing fees			(13.2)		(14.0)
Total borrowings outstanding			3,515.2		3,520.5
	Current indebtedness		(4.6)		(603.8)
Total long-term debt less current portion			$	3,510.6	$	2,916.7

    (1) Reported as long-term associated with refinancing after April 2, 2022. Refer to Note 18.

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

    (3) The coupon rate noted above is that as of December 31, 2021, following a step up in rate from 3.150% to 3.900%, effective December 16, 2021. Due to a credit ratings downgrade by S&P and Moody's in the first quarter of 2022, the interest rate has stepped up from 3.900% to 4.400% starting after June 15, 2022.