Fair Value Measurements (Tables)

6 Months Ended

Jul. 01, 2022

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities at carrying and fair value

A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions):

	Quoted Prices in Active Market (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
July 1, 2022:
Assets:
Cross-currency swap derivative contracts	$	—	$	38.4	$	—	$	38.4
Interest rate swap derivative contracts	$	—	$	0.3	$	—	$	—
Liabilities:
Deferred compensation plans	$	—	$	15.6	$	—	$	15.6
Contingent consideration	$	—	$	—	$	7.5	$	7.5
December 31, 2021:
Liabilities:
Interest rate swap derivative contracts	$	—	$	2.2	$	—	$	2.2
Cross-currency swap derivative contracts	$	—	$	17.4	$	—	$	17.4
Deferred compensation plans	$	—	$	16.5	$	—	$	16.5

The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions):

	July 1, 2022				December 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cross-currency swap derivative contracts	$	38.4	$	38.4	$	—	$	—
Interest rate swap derivative contracts	$	0.3	$	0.3	$	—	$	—
Liabilities:
Contingent consideration	$	7.5	$	7.5	$	—	$	—
Interest rate swap derivative contracts	$	—	$	—	$	2.2	$	2.2
Cross-currency swap derivative contracts	$	—	$	—	$	17.4	$	17.4
Convertible senior notes due 2025	$	508.6	$	1,003.5	$	432.1	$	1,162.5
Long-term debt	$	864.1	$	864.1	$	883.4	$	883.4