PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

12 Months Ended

Dec. 30, 2023

Retirement Benefits [Abstract]

Schedule Plan Assets at Fair Value

The following table sets forth, by level within the fair value hierarchy (as applicable), non-U.S. plan assets at fair value:

			Fair Value Measurements Using
(In millions)	Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
2023
Cash	$	1.3	$	1.3	$	—	$	—
Insurance contracts	42.6		—		—		42.6
Pooled funds – real estate investment trusts	6.4		—		—		6.4
Pooled funds – fixed income securities(1)	389.8
Pooled funds – equity securities(1)	169.4
Pooled funds – other investments(1)	53.7
Total non-U.S. plan assets at fair value	$	663.2
2022
Cash	$	6.4	$	6.4	$	—	$	—
Insurance contracts	37.1		—		—		37.1
Pooled funds – real estate investment trusts	8.3		—		—		8.3
Pooled funds – fixed income securities(1)	335.7
Pooled funds – equity securities(1)	151.9
Pooled funds – other investments(1)	45.9
Total non-U.S. plan assets at fair value	$	585.3

(1)Pooled funds that are measured at fair value using the NAV per unit (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to reconcile to total non-U.S. plan assets.

Schedule of Reconciliation of Level 3 Assets

The following table presents a reconciliation of Level 3 non-U.S. plan asset activity during the year ended December 30, 2023:

	Level 3 Assets
(In millions)	Insurance Contracts		Pooled Funds – Real Estate Investment Trusts		Total
Balance at December 31, 2022	$	37.1	$	8.3	$	45.4
Net realized and unrealized gain (loss)	1.3		(2.3)		(1.0)
Purchases	3.5		—		3.5
Settlements	(2.8)		—		(2.8)
Acquisition	1.1		—		1.1
Impact of changes in foreign currency exchange rates	2.4		.4		2.8
Balance at December 30, 2023	$	42.6	$	6.4	$	49.0

Schedule of Reconciliation of Projected Benefit Obligations

The following table provides a reconciliation of benefit obligations, plan assets, funded status of the plans and accumulated other comprehensive loss for our defined benefit plans:

Plan Benefit Obligations

	Pension Benefits
	2023				2022
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.
Change in projected benefit obligations
Projected benefit obligations at beginning of year	$	51.8	$	586.9	$	66.8	$	882.4
Service cost	—		10.5		—		16.5
Interest cost	2.4		24.7		1.2		10.8
Participant contributions	—		4.5		—		4.6
Amendments	—		(.1)		—		—
Actuarial (gain) loss	1.4		51.3		(9.1)		(244.9)
Acquisition	—		1.2		—		—
Benefits paid	(6.3)		(25.3)		(7.1)		(21.3)
Settlements	—		(.6)		—		(1.0)
Foreign currency translation	—		26.8		—		(60.2)
Projected benefit obligations at end of year	$	49.3	$	679.9	$	51.8	$	586.9
Accumulated benefit obligations at end of year	$	49.3	$	628.7	$	51.8	$	540.2

Schedule of Reconciliation of Plan Assets

	Pension Benefits
	2023				2022
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.
Change in plan assets
Plan assets at beginning of year	$	—	$	585.3	$	—	$	874.6
Actual return on plan assets	—		54.6		—		(226.5)
Acquisition	—		1.1		—		—
Employer contributions	6.3		17.2		7.1		15.2
Participant contributions	—		4.5		—		4.6
Benefits paid	(6.3)		(25.3)		(7.1)		(21.3)
Settlements	—		(.6)		—		(1.0)
Foreign currency translation	—		26.4		—		(60.3)
Plan assets at end of year	$	—	$	663.2	$	—	$	585.3

Schedule of Funded Status of Plans

	Pension Benefits
	2023				2022
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.
Funded status of the plans
Other assets	$	—	$	67.8	$	—	$	70.0
Other accrued liabilities	(6.1)		(.2)		(6.2)		(.4)
Long-term retirement benefits and other liabilities(1)	(43.2)		(84.3)		(45.6)		(71.2)
Plan assets less than benefit obligations	$	(49.3)	$	(16.7)	$	(51.8)	$	(1.6)

(1)In accordance with our funding strategy, we have the option to fund certain of our U.S. liabilities with proceeds from our company-owned life insurance policies.

Schedule of Weighted-Average Assumptions Used to Determine Year-End Benefit Obligations

	Pension Benefits
	2023				2022
	U.S.		Non-U.S.		U.S.		Non-U.S.
Weighted average assumptions used to determine year-end benefit obligations
Discount rate	4.86	%	3.78	%	5.06	%	4.36	%
Compensation rate increase	—		2.73		—		2.75

Schedule of Pre-Tax Amounts, Recognized In "Accumulated Other Comprehensive Loss"

The following table shows the pre-tax amounts recognized in “Accumulated other comprehensive loss” in the Consolidated Balance Sheets:

	Pension Benefits
	2023				2022
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.
Net actuarial loss	$	9.6	$	73.2	$	9.1	$	38.2
Prior service (credit) cost	—		(3.4)		—		(3.5)
Net amount recognized in accumulated other comprehensive loss	$	9.6	$	69.8	$	9.1	$	34.7

Schedule of Pre-Tax Amounts, Recognized In "Other comprehensive loss (income)"

The following table shows the pre-tax amounts recognized in “Other comprehensive loss (income)”:

	Pension Benefits
	2023				2022				2021
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.
Net actuarial (gain) loss	$	.9	$	32.6	$	(5.6)	$	(.8)	$	(.7)	$	(34.8)
Prior service credit	—		(.1)		—		—		—		(.9)
Amortization of unrecognized:
Net actuarial gain	(.4)		2.1		(.8)		(2.5)		(.8)		(6.1)
Prior service credit (cost)	—		.4		—		.4		—		.4
Settlements	—		.1		(.1)		.1		(1.1)		(.5)
Net amount recognized in other comprehensive loss (income)	$	.5	$	35.1	$	(6.5)	$	(2.8)	$	(2.6)	$	(41.9)

Schedule of Components of Net Periodic Benefit Cost (credit)

The following table shows the components of net periodic benefit cost, which are recorded in net income for our defined benefit plans:

	Pension Benefits
	2023				2022				2021
(In millions)	U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	10.5	$	—	$	16.5	$	—	$	19.0
Interest cost	2.4		24.7		1.2		10.8		1.0		8.9
Actuarial (gain) loss	.5		—		(3.5)		—		(1.1)		—
Expected return on plan assets	—		(33.2)		—		(21.9)		—		(19.8)
Amortization of actuarial loss	.4		(2.1)		.8		2.5		.8		6.1
Amortization of prior service (credit) cost	—		(.4)		—		(.4)		—		(.4)
Recognized loss (gain) on settlements	—		(.1)		.1		(.1)		1.1		.5
Net periodic benefit cost (credit)	$	3.3	$	(.6)	$	(1.4)	$	7.4	$	1.8	$	14.3

Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost

The following table shows the weighted average assumptions used to determine net periodic cost:

	Pension Benefits
	2023				2022				2021
	U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.
Discount rate	5.06	%	4.36	%	2.19	%	1.57	%	2.20	%	1.26	%
Expected return on assets	—		4.71		—		3.00		—		2.61
Compensation rate increase	—		2.75		—		2.33		—		2.15

Schedule of Defined Benefit Plan Contributions

The following table sets forth our expected contributions in 2024:

(In millions)
U.S. pension plans	$	6.3
Non-U.S. pension plans	13.8

Schedule of Anticipated Future Benefit Payments

The future benefit payments shown below reflect the expected service periods for eligible participants.

	Pension Benefits
(In millions)	U.S.		Non-U.S.
2024	$	6.3	$	25.7
2025	6.1		24.8
2026	5.9		28.7
2027	5.4		29.0
2028	4.9		27.7
2029-2033	18.4		157.4