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COMMITMENTS AND CONTINGENCIES Summary of Net Asbestos Charges (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jul. 03, 2021
Jun. 27, 2020
Asbestos-related Cost Provision Before Tax [1] $ 12.0 $ 11.8 $ 14.4 $ 23.6
Gain on Divestiture of Asbestos Before Tax (88.8) 0.0 (88.8) 0.0
Asbestos Related Costs (Benefit), Settlement Agreement 0.0 4.2 0.0 (48.3) [2]
Asbestos-related (benefit) costs, net $ (76.8) $ 16.0 $ (74.4) $ (24.7)
[1] Includes certain administrative costs such as legal-related costs for insurance asset recoveries and transaction costs related to the divestiture of the entity holding asbestos-related assets and liabilities. The asbestos provision for the three and six months ended June 27, 2020 includes amounts to maintain a rolling 10-year provision prior to the transition to a full horizon estimate.
[2] In March 2020, we finalized a settlement agreement with a group of insurers to settle responsibility for claims under certain insurance policies for a lump sum payment of $66.4, resulting in a benefit of $52.5. During June 2020, we entered into a settlement agreement with an insurer accelerating payments previously included in a buyout agreement, resulting in a loss of $4.2.