Business Overview (Tables)

6 Months Ended

Jul. 01, 2022

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 (a)			Total
For the Three Months Ended July 1, 2022:
Balance, April 1, 2022	$	(162.1)	$	(61.8)		$	(223.9)
Other comprehensive income (loss) before reclassifications, net of income taxes	(121.3)		—			(121.3)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	2.7		0.5		(b)	3.2
Income tax impact	—		(0.1)			(0.1)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	2.7		0.4			3.1
Net current period other comprehensive income (loss), net of income taxes	(118.6)		0.4			(118.2)
Balance, July 1, 2022	$	(280.7)	$	(61.4)		$	(342.1)
For the Three Months Ended July 2, 2021:
Balance, April 2, 2021	$	(88.7)	$	(86.1)		$	(174.8)
Other comprehensive income (loss) before reclassifications, net of income taxes	16.6		—			16.6
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		1.2		(b)	1.2
Income tax impact	—		(0.3)			(0.3)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		0.9			0.9
Net current period other comprehensive income (loss), net of income taxes	16.6		0.9			17.5
Balance, July 2, 2021	$	(72.1)	$	(85.2)		$	(157.3)

	Foreign currency translation adjustments		Pension adjustments (a)			Total
For the Six Months Ended July 1, 2022:
Balance, December 31, 2021	$	(122.7)	$	(62.3)		$	(185.0)
Other comprehensive income (loss) before reclassifications, net of income taxes	(160.7)		—			(160.7)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	2.7		1.1		(b)	3.8
Income tax impact	—		(0.2)			(0.2)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	2.7		0.9			3.6
Net current period other comprehensive income (loss)	(158.0)		0.9			(157.1)
Balance, July 1, 2022	$	(280.7)	$	(61.4)		$	(342.1)
For the Six Months Ended July 2, 2021:
Balance, December 31, 2020	$	(54.0)	$	(87.1)		$	(141.1)
Other comprehensive income (loss) before reclassifications, net of income taxes	(18.1)		—			(18.1)
Amounts reclassified from accumulated other comprehensive income (loss):
Increase (decrease)	—		2.5		(b)	2.5
Income tax impact	—		(0.6)			(0.6)
Amounts reclassified from accumulated other comprehensive income (loss), net of income taxes	—		1.9			1.9
Net current period other comprehensive income (loss)	(18.1)		1.9			(16.2)
Balance, July 2, 2021	$	(72.1)	$	(85.2)		$	(157.3)
(a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans.
(b) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 12 in our most recently filed Form 10-K for additional details).

Schedule of Accounts Receivable, Allowance for Credit Loss

The following is a roll forward of the aggregated allowance for credit losses related to our trade accounts receivables as of July 1, 2022 ($ in millions):

Balance, December 31, 2021	$	39.7
Provision	4.2
Write-offs	(5.4)
Foreign currency exchange and other	(0.6)
Balance, July 1, 2022	$	37.9