Accumulated Other Comprehensive Loss

6 Months Ended

Jul. 01, 2022

Equity [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

The changes in accumulated other comprehensive loss by component are summarized below ($ in millions).

	Foreign Currency Translation Adjustments		Unrealized (Loss) Gain on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Three Months Ended July 1, 2022
Balance, April 1, 2022	$	(199.2)	$	(0.3)	$	(2.3)	$	(201.8)
Other comprehensive (loss) income before reclassifications:
(Decrease) increase	(60.4)		0.7		—		(59.7)
Income tax impact	(12.5)		(0.2)		—		(12.7)
Other comprehensive (loss) income before reclassifications, net of income taxes	(72.9)		0.5		—		(72.4)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		—		—
Income tax impact	—		—		(0.1)		(0.1)
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		—		(0.1)		(0.1)
Net current period other comprehensive (loss) income, net of income taxes	(72.9)		0.5		(0.1)		(72.5)
Balance, July 1, 2022	$	(272.1)	$	0.2	$	(2.4)	$	(274.3)

	Foreign Currency Translation Adjustments		Unrealized Loss on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Three Months Ended July 2, 2021
Balance, April 2, 2021	$	(116.2)	$	(4.9)	$	(22.8)	$	(143.9)
Other comprehensive income before reclassifications:
Increase	12.4		1.5		—		13.9
Income tax impact	2.0		(0.4)		—		1.6
Other comprehensive income before reclassifications, net of income taxes	14.4		1.1		—		15.5
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		(0.4)		(0.4)
Income tax impact	—		—		(0.1)		(0.1)
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		—		(0.5)		(0.5)
Net current period other comprehensive income, net of income taxes	14.4		1.1		(0.5)		15.0
Balance, July 2, 2021	$	(101.8)	$	(3.8)	$	(23.3)	$	(128.9)

	Foreign Currency Translation Adjustments		Unrealized (Loss) Gain on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Six Months Ended July 1, 2022
Balance, December 31, 2021	$	(139.6)	$	(1.7)	$	(2.2)	$	(143.5)
Other comprehensive (loss) income before reclassifications:
(Decrease) increase	(114.2)		2.5		—		(111.7)
Income tax impact	(18.3)		(0.6)		—		(18.9)
Other comprehensive (loss) income before reclassifications, net of income taxes	(132.5)		1.9		—		(130.6)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		(0.2)		(0.2)
Income tax impact	—		—		—		—
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		—		(0.2)		(0.2)
Net current period other comprehensive (loss) income, net of income taxes	(132.5)		1.9		(0.2)		(130.8)
Balance, July 1, 2022	$	(272.1)	$	0.2	$	(2.4)	$	(274.3)

	Foreign Currency Translation Adjustments		Unrealized Loss on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Six Months Ended July 2, 2021
Balance, December 31, 2020	$	(62.5)	$	(6.3)	$	(23.0)	$	(91.8)
Other comprehensive (loss) before reclassifications:
(Decrease) increase	(31.0)		3.3		—		(27.7)
Income tax impact	(8.3)		(0.8)		—		(9.1)
Other comprehensive (loss) income before reclassifications, net of income taxes	(39.3)		2.5		—		(36.8)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		(0.2)		(0.2)
Income tax impact	—		—		(0.1)		(0.1)
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		—		(0.3)		(0.3)
Net current period other comprehensive (loss) income, net of income taxes	(39.3)		2.5		(0.3)		(37.1)
Balance, July 2, 2021	$	(101.8)	$	(3.8)	$	(23.3)	$	(128.9)