Income Taxes (Tables)

3 Months Ended

Apr. 04, 2020

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 months ended April 4, 2020 and March 30, 2019, is shown below (in millions, except effective tax rates):

	Three Months Ended
	April 4, 2020			March 30, 2019
Provision for income taxes	$	26.5		$	43.1
Pretax income before equity in net income of affiliates	$	108.5		$	286.9
Effective tax rate	24.4		%	15.0		%

Schedule of Tax Benefits (Expense)

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

	Three Months Ended
	April 4, 2020			March 30, 2019
Restructuring charges and various other items	$	10.0		$	15.6
Valuation allowances on deferred tax assets of a foreign subsidiary	0.8			—
Share-based compensation	(0.2		)	3.2
Change in tax status of certain affiliates	—			18.4
	$	10.6		$	37.2