Financial Instruments and Risk Management (Tables)

3 Months Ended

Apr. 02, 2022

Investments, All Other Investments [Abstract]

Schedule of Derivative Instruments [Table Text Block]

The notional amounts of the Company’s derivative instruments are as follows:

(Dollars in millions)	April 2, 2022		January 1, 2022		April 3, 2021
Foreign exchange hedge contracts	$	331.7	$	296.7	$	231.3
Interest rate swap	311.3		311.3		—
Cross currency swap	—		—		79.8

Schedule of Derivative Assets at Fair Value [Table Text Block]

The recorded fair values of the Company’s derivative instruments are as follows:

(In millions)	April 2, 2022		January 1, 2022		April 3, 2021
Financial assets:
Foreign exchange hedge contracts	$	9.1	$	5.9	$	1.4
Interest rate swap	5.0		—		—
Financial liabilities:
Foreign exchange hedge contracts	$	(1.0)	$	(1.0)	$	(4.6)
Interest rate swap	—		(0.1)		—
Cross currency swap	—		—		(7.9)