Fair Value Measurements (Tables)

3 Months Ended

Apr. 01, 2023

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 1, 2023						December 31, 2022
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Measured at fair value on a recurring basis:
Assets:
Investment securities	$	0.1	$	—	$	—	$	0.1	$	—	$	—
Foreign currency forward contracts	—		3.4		—		—		4.2		—
Interest rate swap agreements	—		24.9		—		—		50.5		—
Total assets	$	0.1	$	28.3	$	—	$	0.1	$	54.7	$	—
Liabilities:
Cross-currency swap	$	—	$	111.3	$	—	$	—	$	96.1	$	—
Foreign currency forward contracts	—		3.1		—		—		5.2		—
Total liabilities	$	—	$	114.4	$	—	$	—	$	101.3	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

Our fixed rate long-term debt consisted of the following (in millions):

	April 1, 2023		December 31, 2022
	Level 1		Level 1
Public Bonds
Carrying value (excluding discount)	$	2,544.4	$	2,544.4
Fair value	$	2,315.0	$	2,225.4