Financial Instruments and Derivative Instruments (Tables)

6 Months Ended

Jul. 03, 2016

Financial Instruments and Derivative Instruments

Schedule of fair value of financial assets and liabilities

	Fair Value Measurements at July 3, 2016 Using:
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	3.0	$	3.0	$	—	$	—
Total assets	$	3.0	$	3.0	$	—	$	—
Liabilities
Plan liability for deferred compensation(2)	$	3.0	$	3.0	$	—	$	—
Redeemable financial instrument(3),(4)	6.8		—		—		6.8
Interest rate swap (5)	1.9		—		1.9		—
Total liabilities	$	11.7	$	3.0	$	1.9	$	6.8

	Fair Value Measurements at December 31, 2015 Using:
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	3.3	$	3.3	$	—	$	—
Total assets	$	3.3	$	3.3	$	—	$	—
Liabilities
Plan liability for deferred compensation(2)	$	3.3	$	3.3	$	—	$	—
Redeemable financial instrument(3)	5.7		—		—		5.7
Total liabilities	$	9.0	$	3.3	$	—	$	5.7

(1) Included on the Company’s consolidated balance sheet in other assets (other, net).

(2) Included on the Company’s consolidated balance sheet in accrued compensation and benefits.

(3) Included in the Company’s consolidated balance sheet in other noncurrent liabilities as of July 3, 2016 and December 31, 2015 and relates to a mandatorily redeemable equity instrument as part of the Apex acquisition in 2015.

(4) Included in the Company’s consolidated balance sheet in other noncurrent liabilities as of July 3, 2016 and relates to a mandatorily redeemable equity instrument as part of the AERCO Korea acquisition.

(5) Included on the Company’s consolidated balance sheet in other noncurrent liabilities.

Summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

	Balance					Total realized and unrealized (gains) losses included in:			Balance
	December 31, 2015		Settlements	Purchases		Net earnings adjustments	Comprehensive income		July 3, 2016
	(in millions)
Redeemable financial instrument	$	5.7	—	$	0.8	—	$	0.3	$	6.8

Schedule of carrying amount and estimated fair market value of the company's long-term debt, including current portion

	July 3,		December 31,
	2016		2015
	(in millions)
Carrying amount	$	603.0	$	575.3
Estimated fair value	$	610.0	$	584.1