Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 29, 2023

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 Pension Costs		Total Accumulated Other Comprehensive Loss
Three Months Ended September 29, 2023
Balance, June 30, 2023	$	(251.6)	$	14.7	$	(236.9)
Other comprehensive loss before reclassifications:
Decrease	(65.7)		—		(65.7)
Income tax impact	(3.9)		—		(3.9)
Other comprehensive loss before reclassifications, net of income taxes	(69.6)		—		(69.6)
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	—		(0.3)		(0.3)
Net current period other comprehensive loss, net of income taxes	(69.6)		(0.3)		(69.9)
Balance, September 29, 2023	$	(321.2)	$	14.4	$	(306.8)

	Foreign Currency Translation Adjustments		Unrealized Gain (Loss) on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2022
Balance, July 1, 2022	$	(272.1)	$	0.2	$	(2.4)	$	(274.3)
Other comprehensive (loss) income before reclassifications:
Decrease	(109.9)		(0.3)		—		(110.2)
Income tax impact	(6.7)		0.1		—		(6.6)
Other comprehensive loss before reclassifications, net of income taxes	(116.6)		(0.2)		—		(116.8)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		(0.1)		(0.1)
Income tax impact	—		—		—		—
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		—		(0.1)		(0.1)
Net current period other comprehensive loss, net of income taxes	(116.6)		(0.2)		(0.1)		(116.9)
Balance, September 30, 2022	$	(388.7)	$	—	$	(2.5)	$	(391.2)

	Foreign Currency Translation Adjustments		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Nine Months Ended September 29, 2023
Balance, December 31, 2022	$	(240.5)	$	15.4	$	(225.1)
Other comprehensive loss before reclassifications:
Decrease	(78.3)		—		(78.3)
Income tax impact	(2.4)		—		(2.4)
Other comprehensive loss before reclassifications, net of income taxes	(80.7)		—		(80.7)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		(1.3)		(1.3)
Income tax impact	—		0.3		0.3
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	—		(1.0)		(1.0)
Net current period other comprehensive loss, net of income taxes	(80.7)		(1.0)		(81.7)
Balance, September 29, 2023	$	(321.2)	$	14.4	$	(306.8)

	Foreign Currency Translation Adjustments		Unrealized Gain (Loss) on Cash Flow Hedges		Unrealized Pension Costs		Total Accumulated Other Comprehensive Loss
Nine Months Ended September 30, 2022
Balance, December 31, 2021	$	(139.6)	$	(1.7)	$	(2.2)	$	(143.5)
Other comprehensive (loss) income before reclassifications:
(Decrease) increase	(224.1)		2.2		—		(221.9)
Income tax impact	(25.0)		(0.5)		—		(25.5)
Other comprehensive (loss) income before reclassifications, net of income taxes	(249.1)		1.7		—		(247.4)
Amounts reclassified from accumulated other comprehensive loss:
Increase	—		—		(0.3)		(0.3)
Income tax impact	—		—		—		—
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	(249.1)		1.7		(0.3)		(247.7)
Balance, September 30, 2022	$	(388.7)	$	—	$	(2.5)	$	(391.2)