DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Notional Amounts Of Forward Contracts

As of March 30, 2019, 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	$	156.6
Mexican Peso	196.2
Euro	203.9
Indian Rupee	53.0
Canadian Dollar	7.1
Australian Dollar	12.0
Thai Baht	6.5
British Pound	20.1

As of March 30, 2019, the Company had the following commodity forward contracts outstanding (with maturities extending through June, 2020) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item (in millions)):

	Notional Amount
Copper	$	91.1
Aluminum	10.0

Schedule Of Fair Values Of Derivative Instruments

The following table presents the fair values of derivative instruments as of March 30, 2019 and December 29, 2018 (in millions):

	March 30, 2019
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Current Hedging Obligations		Noncurrent Hedging Obligations
Designated as Hedging Instruments:
Interest Rate Swap Contracts	$	—	$	—	$	—	$	0.4
Currency Contracts	8.1		9.6		2.0		0.3
Commodity Contracts	4.6		0.1		1.0		—
Not Designated as Hedging Instruments:
Currency Contracts	0.1		—		0.5		—
Commodity Contracts	—		—		0.1		—
Total Derivatives	$	12.8	$	9.7	$	3.6	$	0.7

	December 29, 2018
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Current Hedging Obligations		Noncurrent Hedging Obligations
Designated as Hedging Instruments:
Currency Contracts	$	6.0	$	7.2	$	4.3	$	1.1
Commodity Contracts	0.1		—		6.0		0.1
Not Designated as Hedging Instruments:
Currency Contracts	0.6		—		0.7		—
Commodity Contracts	—		—		0.3		—
Total Derivatives	$	6.7	$	7.2	$	11.3	$	1.2

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
	March 30, 2019											March 31, 2018
	Commodity Forwards			Currency Forwards			Interest Rate Swaps		Total			Commodity Forwards			Currency Forwards			Interest Rate Swaps		Total
Gain (Loss) Recognized in Other Comprehensive Income (Loss)	$	8.1		$	10.2		$	0.2	$	18.5		$	(7.7	)	$	22.9		$	—	$	15.2
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain Recognized in Net Sales	—			—			—		—			—			0.2			—		0.2
Gain (Loss) Recognized in Cost of Sales	(2.2		)	(0.4		)	—		(2.6		)	4.0			(1.8		)	—		2.2
Gain recognized in Operating Expenses	—			1.5			—		1.5			—			—			—		—
Gain Recognized in Interest Expense	—			—			0.7		0.7			—			—			—		—

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

	Three Months Ended
	March 30, 2019					March 31, 2018
	Commodity Forwards		Currency Forwards			Commodity Forwards			Currency Forwards
Gain (Loss) Recognized in Cost of Sales	$	0.2	$	—		$	(0.3	)	$	—
Gain (Loss) Recognized in Operating Expenses	—		(0.4		)	—			4.3

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):

	March 30, 2019
	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	$	8.2	$	(2.1	)	$	6.1
Derivative Commodity Contracts	4.6		(1.1		)	3.5
Other Noncurrent Assets:
Derivative Currency Contracts	9.6		(0.2		)	9.4
Derivative Commodity Contracts	0.1		—			0.1
Current Hedging Obligations:
Derivative Currency Contracts	2.5		(2.1		)	0.4
Derivative Commodity Contracts	1.1		(1.1		)	—
Noncurrent Hedging Obligations:
Derivative Currency Contracts	0.3		(0.2		)	0.1

	December 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	$	6.6	$	(3.6	)	$	3.0
Derivative Commodity Contracts	0.1		(0.1		)	—
Other Noncurrent Assets:
Derivative Currency Contracts	7.2		(0.6		)	6.6
Current Hedging Obligations:
Derivative Currency Contracts	5.0		(3.6		)	1.4
Derivative Commodity Contracts	6.3		(0.1		)	6.2
Noncurrent Hedging Obligations:
Derivative Currency Contracts	1.1		(0.6		)	0.5
Derivative Commodity Contracts	0.1		—			0.1