Hedging Transactions And Derivative Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions):

	Three Months Ended October 1, 2021				Three Months Ended October 2, 2020
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain (Loss) Recognized in OCI
Interest rate contracts	$	250.0	$	1.5	$	450.0	$	1.9
Foreign currency contracts	650.0		14.1		650.0		(30.7)
Foreign currency denominated debt	241.2		5.6		703.0		(28.1)
Total	$	1,141.2	$	21.2	$	1,803.0	$	(56.9)

	Nine Months Ended October 1, 2021				Nine Months Ended October 2, 2020
	Notional Amount		Gain Recognized in OCI		Notional Amount		Loss Recognized in OCI
Interest rate contracts	$	250.0	$	4.8	$	450.0	$	(9.8)
Foreign currency contracts	650.0		33.1		650.0		(20.9)
Foreign currency denominated debt	241.2		19.7		703.0		(30.1)
Total	$	1,141.2	$	57.6	$	1,803.0	$	(60.8)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the notional values as of October 1, 2021 and October 2, 2020 and pretax impact of changes in the fair values of instruments designated as net investment hedges and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended October 1, 2021 and October 2, 2020 ($ in millions):

	Three Months Ended October 1, 2021				Three Months Ended October 2, 2020
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain (Loss) Recognized in OCI
Interest rate contracts	$	250.0	$	1.5	$	450.0	$	1.9
Foreign currency contracts	650.0		14.1		650.0		(30.7)
Foreign currency denominated debt	241.2		5.6		703.0		(28.1)
Total	$	1,141.2	$	21.2	$	1,803.0	$	(56.9)

	Nine Months Ended October 1, 2021				Nine Months Ended October 2, 2020
	Notional Amount		Gain Recognized in OCI		Notional Amount		Loss Recognized in OCI
Interest rate contracts	$	250.0	$	4.8	$	450.0	$	(9.8)
Foreign currency contracts	650.0		33.1		650.0		(20.9)
Foreign currency denominated debt	241.2		19.7		703.0		(30.1)
Total	$	1,141.2	$	57.6	$	1,803.0	$	(60.8)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The Company’s derivative instruments, as well as its non-derivative debt instruments designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions):

	October 1, 2021		December 31, 2020
Derivative liabilities:
Accrued expenses and other liabilities	$	32.2	$	70.2
Nonderivative hedging instruments:
Short-term debt	$	—	$	472.0
Long-term debt	$	241.2	$	260.9