Balance Sheet Information and Other - (Tables)

6 Months Ended

Jul. 01, 2022

Balance Sheet Related Disclosures [Abstract]

Summary of Changes in Goodwill

Changes in the goodwill balance from December 31, 2021 to July 1, 2022 related to the ASG reporting unit impairment and the divestiture of the Belgium and South Portland, Maine manufacturing facilities and were as follows (in millions):

Net balance as of December 31, 2021	$	1,937.5
Goodwill impairment	(115.0)
Goodwill disposed	(7.1)
Net balance as of July 1, 2022	$	1,815.4

Schedule of Inventory

Details of Inventory included in the Company’s Consolidated Balance Sheets is as follows (in millions):

	As of
	July 1, 2022		December 31, 2021
Inventories:
Raw materials	$	198.0	$	174.2
Work in process	1,009.2		888.9
Finished goods	356.0		316.4
	$	1,563.2	$	1,379.5

Schedule of Net Periodic Pension Expense

The components of the net periodic pension expense were as follows (in millions):

	Quarters Ended				Six Months Ended
	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Service cost	$	2.2	$	3.0	$	4.4	$	6.1
Interest cost	1.0		1.1		2.1		2.2
Expected return on plan assets	(1.1)		(1.6)		(2.3)		(3.3)
Curtailment loss	—		—		—		1.9
Total net periodic pension cost	$	2.1	$	2.5	$	4.2	$	6.9

Schedule of Components of Lease Expense

The components of lease expense were as follows (in millions):

	Quarters Ended				Six Months Ended
	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Operating lease	$	11.7	$	9.8	$	22.9	$	19.7
Variable lease	4.1		1.0		5.7		1.9
Short-term lease	0.8		0.5		1.2		1.2
Total lease expense	$	16.6	$	11.3	$	29.8	$	22.8

The ROU assets and lease liabilities recognized in the Consolidated Balance Sheets are as follows (in millions):

	As of
	July 1, 2022		December 31, 2021
Operating lease liabilities included in:
Accrued expenses and other current liabilities	$	31.1	$	32.5
Other long-term liabilities	214.3		142.4
Total	$	245.4	$	174.9
Operating ROU assets included in:
Other assets	$	234.3	$	170.1
Financing lease liabilities included in:
Accrued expenses and other current liabilities	$	13.5	$	12.7
Other long-term liabilities	22.2		10.2
Total	$	35.7	$	22.9
Financing ROU assets included in:
Other assets	$	47.0	$	22.3

Schedule of Cash and Non-cash Activities

Certain of the Company's cash and non-cash activities were as follows (in millions):

	Six Months Ended
	July 1, 2022		July 2, 2021
Non-cash investing activities:
Capital expenditures in accounts payable and other long-term liabilities	$	259.9	$	160.0
Operating ROU assets obtained in exchange of lease liabilities	88.1		11.0
Cash paid for:
Interest expense	$	35.6	$	52.6
Income taxes	202.8		43.7
Operating lease payments in operating cash flows	22.5		20.8

Schedule of Cash and Cash Equivalents

Reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions)

	As of
	July 1, 2022		December 31, 2021		July 2, 2021		December 31, 2020
Consolidated Balance Sheets:
Cash and cash equivalents	$	1,791.6	$	1,352.6	$	1,091.1	$	1,080.7
Restricted cash (included in other current assets)	18.0		20.1		1.4		0.8
Restricted cash (included in other non-current assets)	5.0		5.0		—		—
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows	$	1,814.6	$	1,377.7	$	1,092.5	$	1,081.5

Schedule of Restrictions on Cash and Cash Equivalents

Reconciliation of the captions in the Consolidated Balance Sheets to the Consolidated Statements of Cash Flows (in millions)

	As of
	July 1, 2022		December 31, 2021		July 2, 2021		December 31, 2020
Consolidated Balance Sheets:
Cash and cash equivalents	$	1,791.6	$	1,352.6	$	1,091.1	$	1,080.7
Restricted cash (included in other current assets)	18.0		20.1		1.4		0.8
Restricted cash (included in other non-current assets)	5.0		5.0		—		—
Cash, cash equivalents and restricted cash in Consolidated Statements of Cash Flows	$	1,814.6	$	1,377.7	$	1,092.5	$	1,081.5