Hedging Transactions And Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, gain (loss)

The following table summarizes the notional values as of September 29, 2023 and September 30, 2022 and pretax impact of changes in the fair values of instruments designated as net investment and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended September 29, 2023 and September 30, 2022 ($ in millions):

	Three Months Ended September 29, 2023				Three Months Ended September 30, 2022
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain (Loss) Recognized in OCI
Foreign currency denominated debt	$	370.1	$	11.6	$	203.9	$	12.8
Foreign currency contracts	150.0		4.2		—		14.4
Interest rate contract	—		—		—		(0.3)
Total	$	520.1	$	15.8	$	203.9	$	26.9

	Nine Months Ended September 29, 2023				Nine Months Ended September 30, 2022
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	370.1	$	7.3	$	203.9	$	32.7
Foreign currency contracts	150.0		2.5		—		68.5
Interest rate contracts	—		—		—		2.2
Total	$	520.1	$	9.8	$	203.9	$	103.4

Schedule of notional amounts of outstanding derivative positions

The following table summarizes the notional values as of September 29, 2023 and September 30, 2022 and pretax impact of changes in the fair values of instruments designated as net investment and cash flow hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended September 29, 2023 and September 30, 2022 ($ in millions):

	Three Months Ended September 29, 2023				Three Months Ended September 30, 2022
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain (Loss) Recognized in OCI
Foreign currency denominated debt	$	370.1	$	11.6	$	203.9	$	12.8
Foreign currency contracts	150.0		4.2		—		14.4
Interest rate contract	—		—		—		(0.3)
Total	$	520.1	$	15.8	$	203.9	$	26.9

	Nine Months Ended September 29, 2023				Nine Months Ended September 30, 2022
	Notional Amount		Gain Recognized in OCI		Notional Amount		Gain Recognized in OCI
Foreign currency denominated debt	$	370.1	$	7.3	$	203.9	$	32.7
Foreign currency contracts	150.0		2.5		—		68.5
Interest rate contracts	—		—		—		2.2
Total	$	520.1	$	9.8	$	203.9	$	103.4

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 29, 2023		December 31, 2022
Derivative Assets:
Other long-term assets	$	2.5	$	—
Nonderivative hedging instruments:
Long-term debt	$	370.1	$	222.7