Business Overview (Tables)

3 Months Ended

Mar. 27, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reclassification of Accumulated Other Comprehensive Income

The changes in AOCI by component are summarized below ($ in millions):

	Foreign currency translation adjustments		Pension adjustments (b)			Total
For the Three Months Ended March 27, 2020:
Balance, December 31, 2019	$	21.2	$	(77.5)		$	(56.3)
Other comprehensive income (loss) before reclassifications, net of income taxes	(136.3)		—			(136.3)
Amounts reclassified from accumulated other comprehensive income (loss):
Decrease	—		(1.2)		(a)	(1.2)
Income tax impact	—		0.2			0.2
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		(1.0)			(1.0)
Net current period other comprehensive income (loss), net of income taxes	(136.3)		(1.0)			(137.3)
Balance, March 27, 2020	$	(115.1)	$	(78.5)		$	(193.6)
For the Three Months Ended March 29, 2019:
Balance, December 31, 2018	$	(29.3)	$	(57.3)		$	(86.6)
Other comprehensive income (loss) before reclassifications, net of income taxes	16.7		—			16.7
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—		0.7		(a)	0.7
Income tax impact	—		(0.2)			(0.2)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		0.5			0.5
Net current period other comprehensive income (loss), net of income taxes	16.7		0.5			17.2
Balance, March 29, 2019	$	(12.6)	$	(56.8)		$	(69.4)
(a) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 7 for additional details).
(b) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following is a rollforward of the aggregated allowance for credit losses related to our trade accounts, unbilled, and financing receivables as of March 27, 2020 ($ in millions):

Balance, December 31, 2019	$	82.1
Transition Adjustment	40.0
Provision	12.0
Write-offs	(13.2)
FX and Other	(5.1)
Balance, March 27, 2020	$	115.8