BUSINESS OVERVIEW (Tables)

6 Months Ended

Jun. 28, 2024

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 & post-retirement plan benefit adjustments (a)			Total
For the Three Months Ended June 28, 2024:
Balance, March 29, 2024	$	(368.2)		$	(34.3)		$	(402.5)
Other comprehensive income (loss) before reclassifications, net of income taxes	(28.1)			—			(28.1)
Amounts reclassified from AOCI into income:
Increase (decrease)	7.0		(b)	0.1		(c)	7.1
Income tax impact	—			(0.1)			(0.1)
Amounts reclassified from AOCI into income, net of income taxes	7.0			—			7.0
Net current period other comprehensive income (loss), net of income taxes	(21.1)			—			(21.1)
Balance, June 28, 2024	$	(389.3)		$	(34.3)		$	(423.6)
For the Three Months Ended June 30, 2023:
Balance, March 31, 2023	$	(288.0)		$	(24.3)		$	(312.3)
Other comprehensive income (loss) before reclassifications, net of income taxes	(7.4)			—			(7.4)
Amounts reclassified from AOCI into income:
Increase (decrease)	—			(0.5)		(c)	(0.5)
Income tax impact	—			0.3			0.3
Amounts reclassified from AOCI into income, net of income taxes	—			(0.2)			(0.2)
Net current period other comprehensive income (loss), net of income taxes	(7.4)			(0.2)			(7.6)
Balance, June 30, 2023	$	(295.4)		$	(24.5)		$	(319.9)
(a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans.
(b) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 1 for additional details.
(c) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 11 in our 2023 Annual Report on Form 10-K for additional details).

	Foreign currency translation adjustments			Pension & post-retirement plan benefit adjustments (a)			Total
For the Six Months Ended June 28, 2024:
Balance, December 31, 2023	$	(291.7)		$	(34.4)		$	(326.1)
Other comprehensive income (loss) before reclassifications, net of income taxes	(104.6)			—			(104.6)
Amounts reclassified from AOCI into income:
Increase (decrease)	7.0		(b)	0.2		(c)	7.2
Income tax impact	—			(0.1)			(0.1)
Amounts reclassified from AOCI into income, net of income taxes	7.0			0.1			7.1
Net current period other comprehensive income (loss)	(97.6)			0.1			(97.5)
Balance, June 28, 2024	$	(389.3)		$	(34.3)		$	(423.6)
For the Six Months Ended June 30, 2023:
Balance, December 31, 2022	$	(301.4)		$	(24.3)		$	(325.7)
Other comprehensive income (loss) before reclassifications, net of income taxes	6.0			—			6.0
Amounts reclassified from AOCI into income:
Increase (decrease)	—			(0.4)		(c)	(0.4)
Income tax impact	—			0.2			0.2
Amounts reclassified from AOCI into income, net of income taxes	—			(0.2)			(0.2)
Net current period other comprehensive income (loss)	6.0			(0.2)			5.8
Balance, June 30, 2023	$	(295.4)		$	(24.5)		$	(319.9)
(a) Includes balances relating to defined benefit plans, supplemental executive retirement plans, and other postretirement employee benefit plans.
(b) This amount relates to the cumulative translation adjustment recognized in earnings upon the Invetech Divestiture. Refer to Note 1 for additional details.
(c) This component of AOCI is included in the computation of net periodic pension cost (refer to Note 11 in our 2023 Annual Report on Form 10-K for additional details).