Hedging Transactions And Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, gain (loss)

The following table summarizes the notional values as of September 30, 2022 and October 1, 2021 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 September 30, 2022 and October 1, 2021 ($ in millions):

	Three Months Ended September 30, 2022				Three Months Ended October 1, 2021
	Notional Amount		Gain (Loss) Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	203.9	$	12.8	$	241.2	$	5.6
Interest rate contract	—		(0.3)		250.0		1.5
Foreign currency contracts	—		14.4		650.0		14.1
Total	$	203.9	$	26.9	$	1,141.2	$	21.2

	Nine Months Ended September 30, 2022				Nine Months Ended October 1, 2021
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	203.9	$	32.7	$	241.2	$	19.7
Interest rate contracts	—		2.2		250.0		4.8
Foreign currency contracts	—		68.5		650.0		33.1
Total	$	203.9	$	103.4	$	1,141.2	$	57.6

Schedule of notional amounts of outstanding derivative positions

The following table summarizes the notional values as of September 30, 2022 and October 1, 2021 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 September 30, 2022 and October 1, 2021 ($ in millions):

	Three Months Ended September 30, 2022				Three Months Ended October 1, 2021
	Notional Amount		Gain (Loss) Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	203.9	$	12.8	$	241.2	$	5.6
Interest rate contract	—		(0.3)		250.0		1.5
Foreign currency contracts	—		14.4		650.0		14.1
Total	$	203.9	$	26.9	$	1,141.2	$	21.2

	Nine Months Ended September 30, 2022				Nine Months Ended October 1, 2021
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	203.9	$	32.7	$	241.2	$	19.7
Interest rate contracts	—		2.2		250.0		4.8
Foreign currency contracts	—		68.5		650.0		33.1
Total	$	203.9	$	103.4	$	1,141.2	$	57.6

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):

	September 30, 2022		December 31, 2021
Derivative liabilities:
Accrued expenses and other liabilities	$	—	$	19.6
Nonderivative hedging instruments:
Long-term debt	$	203.9	$	236.5