Income Taxes (Tables)

6 Months Ended

Jun. 29, 2019

Income Tax Disclosure [Abstract]

Provision for Income Taxes and Corresponding Effective Tax Rate

A summary of the provision for income taxes and the corresponding effective tax rate for the three and six months ended June 29, 2019 and June 30, 2018, is shown below (in millions, except effective tax rates):

	Three Months Ended						Six Months Ended
	June 29, 2019			June 30, 2018			June 29, 2019			June 30, 2018
Provision for income taxes	$	73.3		$	97.7		$	116.4		$	175.4
Pretax income before equity in net income of affiliates	$	266.9		$	443.6		$	553.8		$	891.4
Effective tax rate	27.5		%	22.0		%	21.0		%	19.7		%

Schedule of Tax Benefits (Expense)

In addition, the Company recognized tax benefits (expense) related to the significant, discrete items shown below (in millions):

	Six Months Ended
	June 29, 2019			June 30, 2018
Restructuring charges and various other items	$	26.6		$	6.5
Valuation allowances on deferred tax assets of a foreign subsidiary	(10.4		)	35.1
Share-based compensation	3.2			10.4
Increase in foreign withholding tax on certain undistributed foreign earnings	—			(22.0		)
Change in tax status of certain affiliates	18.4			—
	$	37.8		$	30.0