Indebtedness (Tables)

6 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Total borrowings are summarized as follows (in millions):

			July 2, 2022		December 31, 2021
Term loan
	2019 Term loan due August 15, 2022(1)		$	—	$	600.0
	2022 Term loan A due April 1, 2027		500.0		—
	2022 Term loan B due April 1, 2029		1,100.0		—
	Total term loans		1,600.0		600.0
Notes and Bonds
	Coupon	Due
	5.105%	July 28, 2023(1,2)	$	—	$	153.5
	4.000%	November 15, 2023(1)	—		215.6
	3.900%	December 15, 2024	700.0		700.0
	4.375%	March 15, 2026	700.0		700.0
	4.400%	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		2,544.4		2,913.5
Other financing			22.8		25.8
Unamortized premium (discount), net			(17.3)		(4.8)
Deferred financing fees			(33.0)		(14.0)
Total borrowings outstanding			4,116.9		3,520.5
	Current indebtedness		(30.8)		(603.8)
Total long-term debt less current portion			$	4,086.1	$	2,916.7

    (1) Redeemed in connection with the New Senior Secured Credit Facilities entered into during the second quarter of 2022.

    (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 July 2, 2022, 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.