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COMMITMENTS AND CONTINGENCIES Summary of Net Asbestos Charges (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Oct. 02, 2021
Sep. 26, 2020
Asbestos provision(a) $ 0.0 $ 5.5 [1] $ 14.4 [1] $ 29.1 [1]
Gain on divestiture before income tax 0.0 0.0 (88.8) 0.0
Asbestos remeasurement(b) 0.0 135.9 [2] 0.0 135.9 [2]
Insurance settlement agreements(c) 0.0 0.0 0.0 (48.3) [3]
Asbestos-related costs (benefit), net $ 0.0 $ 141.4 $ (74.4) $ 116.7
[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 legacy asbestos-related assets and liabilities. The asbestos provision for the three and nine months ended September 26, 2020 includes amounts to maintain a rolling 10-year provision prior to the transition to a full horizon estimate.
[2] In the third quarter of 2020, we extended our projection to include pending claims and claims expected to be filed through 2052, reflecting the full time period over which we expected asbestos claims to be filed against InTelCo.
[3] 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.