Comprehensive Income (Loss) and Equity (Tables)

3 Months Ended

Apr. 03, 2021

Equity [Abstract]

Summary of Changes, Net of Tax, in Accumulated Other Comprehensive Loss

A summary of changes, net of tax, in accumulated other comprehensive loss for the three months ended April 3, 2021, is shown below (in millions):

	Three Months Ended April 3, 2021
Defined benefit plans:
Balance at beginning of period	$	(276.9)
Reclassification adjustments (net of tax expense of $0.4 million)	2.2
Other comprehensive loss recognized during the period (net of tax impact of $— million)	(0.9)
Balance at end of period	$	(275.6)
Derivative instruments and hedging:
Balance at beginning of period	$	12.6
Reclassification adjustments (net of tax benefit of $1.4 million)	(5.3)
Other comprehensive income recognized during the period (net of tax expense of $0.7 million)	2.3
Balance at end of period	$	9.6
Foreign currency translation:
Balance at beginning of period	$	(440.8)
Other comprehensive loss recognized during the period (net of tax expense of $2.1 million)	(83.6)
Balance at end of period	$	(524.4)
Total accumulated other comprehensive loss	$	(790.4)

A summary of changes, net of tax, in accumulated other comprehensive loss for the three months ended April 4, 2020, is shown below (in millions):

	Three Months Ended April 4, 2020
Defined benefit plans:
Balance at beginning of period	$	(217.6)
Reclassification adjustments (net of tax expense of $0.3 million)	1.3
Other comprehensive income recognized during the period (net of tax impact of $— million)	7.6
Balance at end of period	$	(208.7)
Derivative instruments and hedging:
Balance at beginning of period	$	9.8
Reclassification adjustments (net of tax benefit of $1.4 million)	(5.7)
Other comprehensive loss recognized during the period (net of tax benefit $27.9 million)	(115.4)
Balance at end of period	$	(111.3)
Foreign currency translation:
Balance at beginning of period	$	(564.9)
Other comprehensive loss recognized during the period (net of tax expense of $4.8 million)	(164.4)
Balance at end of period	$	(729.3)
Total accumulated other comprehensive loss	$	(1,049.3)

Dividends Declared and Paid

Dividends declared and paid are shown below (in millions):

	Three Months Ended
	April 3, 2021		April 4, 2020 (1)
Dividends declared	$	15.3	$	46.8
Dividends paid	15.7		47.8

(1) Prior to March 2020 suspension