Hedging Transactions And Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, gain (loss)

The following table summarizes the notional values as of June 30, 2023 and July 1, 2022 and pretax impact of changes in the fair values of instruments designated as net investment and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and six months ended June 30, 2023 and July 1, 2022 ($ in millions):

	Three Months Ended June 30, 2023				Three Months Ended July 1, 2022
	Notional Amount		Loss Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	227.0	$	(1.5)	$	216.6	$	13.1
Foreign currency contracts	150.0		(1.7)		650.0		36.2
Interest rate contract	—		—		250.0		0.7
Total	$	377.0	$	(3.2)	$	1,116.6	$	50.0

	Six Months Ended June 30, 2023				Six Months Ended July 1, 2022
	Notional Amount		Loss Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	227.0	$	(4.3)	$	216.6	$	19.9
Foreign currency contracts	150.0		(1.7)		650.0		54.1
Interest rate contracts	—		—		250.0		2.5
Total	$	377.0	$	(6.0)	$	1,116.6	$	76.5

Schedule of notional amounts of outstanding derivative positions

The following table summarizes the notional values as of June 30, 2023 and July 1, 2022 and pretax impact of changes in the fair values of instruments designated as net investment and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and six months ended June 30, 2023 and July 1, 2022 ($ in millions):

	Three Months Ended June 30, 2023				Three Months Ended July 1, 2022
	Notional Amount		Loss Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	227.0	$	(1.5)	$	216.6	$	13.1
Foreign currency contracts	150.0		(1.7)		650.0		36.2
Interest rate contract	—		—		250.0		0.7
Total	$	377.0	$	(3.2)	$	1,116.6	$	50.0

	Six Months Ended June 30, 2023				Six Months Ended July 1, 2022
	Notional Amount		Loss Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	227.0	$	(4.3)	$	216.6	$	19.9
Foreign currency contracts	150.0		(1.7)		650.0		54.1
Interest rate contracts	—		—		250.0		2.5
Total	$	377.0	$	(6.0)	$	1,116.6	$	76.5

Schedule of derivative instruments in statement of financial position, fair value

The Company’s derivative instruments, as well as its non-derivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions):

	June 30, 2023		December 31, 2022
Derivative liabilities:
Other long-term liabilities	$	1.7	$	—
Nonderivative hedging instruments:
Long-term debt	$	227.0	$	222.7