Business Overview (Tables)

9 Months Ended

Sep. 25, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of 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 September 25, 2020:
Balance, June 26, 2020	$	(79.1)	$	(77.5)		$	(156.6)
Other comprehensive income (loss) before reclassifications, net of income taxes	63.9		—			63.9
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—		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	63.9		1.0			64.9
Balance, September 25, 2020	$	(15.2)	$	(76.5)		$	(91.7)
For the Three Months Ended September 27, 2019:
Balance, June 28, 2019	$	(11.3)	$	(56.3)		$	(67.6)
Other comprehensive income (loss) before reclassifications, net of income taxes	(52.5)		—			(52.5)
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	(52.5)		0.5			(52.0)
Balance, September 27, 2019	$	(63.8)	$	(55.8)		$	(119.6)
(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.

	Foreign currency translation adjustments		Pension adjustments (b)			Total
For the Nine Months Ended September 25, 2020:
Balance, December 31, 2019	$	21.2	$	(77.5)		$	(56.3)
Other comprehensive income (loss) before reclassifications, net of income taxes	(36.4)		—			(36.4)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—		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	(36.4)		1.0			(35.4)
Balance, September 25, 2020	$	(15.2)	$	(76.5)		$	(91.7)
For the Nine Months Ended September 27, 2019:
Balance, December 31, 2018	$	(29.3)	$	(57.3)		$	(86.6)
Other comprehensive income (loss) before reclassifications, net of income taxes	(34.5)		—			(34.5)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase	—		2.1		(a)	2.1
Income tax impact	—		(0.6)			(0.6)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		1.5			1.5
Net current period other comprehensive income (loss), net of income taxes	(34.5)		1.5			(33.0)
Balance, September 27, 2019	$	(63.8)	$	(55.8)		$	(119.6)
(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 September 25, 2020 ($ in millions):

Balance, December 31, 2019	$	82.1
Transition Adjustment	40.0
Provision	42.7
Write-offs	(37.1)
FX and Other	(1.4)
Balance, September 25, 2020	$	126.3