DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 29, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Notional Amounts Of Forward Contracts

As of September 29, 2018, the Company had the following currency forward contracts outstanding (with maturities extending through April 2021) to hedge forecasted foreign currency cash flows (in millions):

	Notional Amount (in US Dollars)
Chinese Renminbi	$	267.9
Mexican Peso	191.4
Euro	104.7
Indian Rupee	38.0
Canadian Dollar	13.8
Australian Dollar	11.6
Thai Baht	6.7
British Pound	16.9

As of September 29, 2018, the Company had the following commodity forward contracts outstanding (with maturities extending through December 2019) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item (in millions)):

	Notional Amount
Copper	$	100.4
Aluminum	7.6

Schedule Of Fair Values Of Derivative Instruments

The following table presents the fair values of derivative instruments as of September 29, 2018 and December 30, 2017 (in millions):

	September 29, 2018
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Current Hedging Obligations		Noncurrent Hedging Obligations
Designated as Hedging Instruments:
Interest Rate Swap Contracts	$	—	$	0.8	$	—	$	—
Currency Contracts	9.6		6.0		4.6		1.5
Commodity Contracts	1.4		0.2		4.7		0.1
Not Designated as Hedging Instruments:
Currency Contracts	0.2		—		0.9		—
Commodity Contracts	—		—		0.1		—
Total Derivatives	$	11.2	$	7.0	$	10.3	$	1.6

	December 30, 2017
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Current Hedging Obligations		Noncurrent Hedging Obligations
Designated as Hedging Instruments:
Currency Contracts	$	11.5	$	2.5	$	7.9	$	0.9
Commodity Contracts	10.8		0.7		—		—
Not Designated as Hedging Instruments:
Currency Contracts	4.1		—		0.2		—
Commodity Contracts	0.2		—		—		—
Total Derivatives	$	26.6	$	3.2	$	8.1	$	0.9

Schedule Of Cash Flow Hedging Instruments

The following table presents the effect of derivative instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statement of Comprehensive Income (pre-tax) (in millions):

Derivatives Designated as Cash Flow Hedging Instruments

	Three Months Ended
	September 29, 2018										September 30, 2017
	Commodity Forwards			Currency Forwards			Interest Rate Swaps		Total		Commodity Forwards		Currency Forwards			Interest Rate Swaps			Total
Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$	(3.9	)	$	6.9		$	1.0	$	4.0	$	6.8	$	7.0		$	0.5		$	14.3
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain Recognized in Net Sales	—			—			—		—		—		0.3			—			0.3
Gain (Loss) Recognized in Cost of Sales	0.7			(0.7		)	—		—		2.8		(2.2		)	—			0.6
Gain recognized in Operating Expenses	—			0.6			—		0.6		—		—			—			—
Gain (Loss) Recognized in Interest Expense	—			—			0.7		0.7		—		—			(0.6		)	(0.6		)

	Nine Months Ended
	September 29, 2018									September 30, 2017
	Commodity Forwards			Currency Forwards		Interest Rate Swaps		Total		Commodity Forwards		Currency Forwards			Interest Rate Swaps			Total
Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$	(12.8	)	$	13.8	$	2.0	$	3.0	$	11.3	$	49.9		$	0.5		$	61.7
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain Recognized in Net Sales	—			0.3		—		0.3		—		0.7			—			0.7
Gain (Loss) Recognized in Cost of Sales	7.4			1.2		—		8.6		7.5		(21.3		)	—			(13.8		)
Gain recognized in Operating Expenses	—			4.9		—		4.9		—		—			—			—
Gain (Loss) Recognized in Interest Expense	—			—		1.2		1.2		—		—			(2.8		)	(2.8		)

The ineffective portion of hedging instruments recognized during the three and nine months endedSeptember 29, 2018 and September 30, 2017, respectively, was immaterial.

Derivatives Not Designated as Cash Flow Hedging Instruments (in millions):

	Three Months Ended
	September 29, 2018					September 30, 2017
	Commodity Forwards		Currency Forwards			Commodity Forwards			Currency Forwards
Loss Recognized in Cost of Sales	$	—	$	—		$	(0.8	)	$	—
Gain (Loss) Recognized in Operating Expenses	—		(4.1		)	—			2.9

	Nine Months Ended
	September 29, 2018						September 30, 2017
	Commodity Forwards			Currency Forwards			Commodity Forwards			Currency Forwards
Loss Recognized in Cost of Sales	$	(0.3	)	$	—		$	(0.6	)	$	—
Gain (Loss) Recognized in Operating Expenses	—			(6.3		)	—			10.6

Schedule Of Derivatives Under Enforceable Master Netting Agreements

The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements (in millions):

	September 29, 2018
	Gross Amounts as Presented in the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset			Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	9.8	$	(2.8	)	$	7.0
Derivative Commodity Contracts	1.4		(1.0		)	0.4
Other Noncurrent Assets:
Derivative Currency Contracts	6.0		(0.5		)	5.5
Derivative Commodity Contracts	0.2		(0.1		)	0.1
Current Hedging Obligations:
Derivative Currency Contracts	5.5		(2.8		)	2.7
Derivative Commodity Contracts	4.8		(1.0		)	3.8
Noncurrent Hedging Obligations:
Derivative Currency Contracts	1.5		(0.5		)	1.0
Derivative Commodity Contracts	0.1		(0.1		)	—

	December 30, 2017
	Gross Amounts as Presented in the Condensed Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset			Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	15.6	$	(5.9	)	$	9.7
Derivative Commodity Contracts	11.0		—			11.0
Other Noncurrent Assets:
Derivative Currency Contracts	2.5		(0.7		)	1.8
Derivative Commodity Contracts	0.7		—			0.7
Current Hedging Obligations:
Derivative Currency Contracts	8.1		(5.9		)	2.2
Noncurrent Hedging Obligations:
Derivative Currency Contracts	0.9		(0.7		)	0.2