Income Taxes (Tables)

12 Months Ended

Dec. 28, 2019

Income Tax Disclosure [Abstract]

Income Before Taxes And Noncontrolling Interest

Income before taxes consisted of the following (in millions):

	2019		2018		2017
United States	$	126.7	$	121.5	$	147.4
Foreign	177.1		170.7		129.8
Total	$	303.8	$	292.2	$	277.2

Provision For Income Taxes

The provision for income taxes is summarized as follows (in millions):

	2019			2018			2017
Current
Federal	$	1.8		$	4.5		$	36.9
State	1.1			0.8			(0.3		)
Foreign	35.9			37.9			32.2
	$	38.8		$	43.2		$	68.8
Deferred
Federal	$	20.4		$	16.6		$	(7.2	)
State	2.6			2.1			2.2
Foreign	(0.6		)	(5.5		)	(4.7		)
	22.4			13.2			(9.7		)
Total	$	61.2		$	56.4		$	59.1

Reconciliation Of The Statutory Federal Income Tax Rate And The Effective Tax Rate

A reconciliation of the statutory federal income tax rate and the effective tax rate reflected in the consolidated statements of income follows:

	2019	2018	2017
Federal Statutory Rate	21.0%	21.0%	35.0%
State Income Taxes, Net of Federal Benefit	1.3%	1.1%	0.3%
Domestic Production Activities Deduction	—%	—%	(1.0)%
Foreign Rate Differential - China	0.9%	0.9%	(2.1)%
Foreign Rate Differential - All Other	(2.8)%	(1.4)%	(4.3)%
Research and Development Credit	(2.5)%	(2.5)%	(3.0)%
Valuation Allowance	0.8%	(0.3)%	(0.6)%
Tax Cuts and Jobs Act of 2017	—%	(1.3)%	(0.4)%
Tax on Repatriation	3.4%	1.3%	—%
Adjustments to Tax Accruals and Reserves	0.3%	—%	(1.9)%
Tax Impact of Divestitures	(1.7)%	—%	—%
Other	(0.6)%	0.5%	(0.7)%
Effective Tax Rate	20.1%	19.3%	21.3%

Components Of Net Deferred Tax Asset (Liability)

The components of this net deferred tax liability are as follows (in millions):

	December 28, 2019			December 29, 2018
Accrued Benefits	$	54.3		$	53.9
Bad Debt Allowances	2.0			2.2
Warranty Accruals	2.5			3.6
Inventory	7.3			14.6
Accrued Liabilities	(2.6		)	(8.0		)
Derivative Instruments	1.4			1.8
Tax Loss Carryforward	35.4			13.1
Valuation Allowance	(12.9		)	(4.9		)
Operating Lease Liability	17.2			—
Other	18.0			14.0
Deferred Tax Assets	122.6			90.3
Property Related	(36.1		)	(32.2		)
Intangible Items	(182.8		)	(172.2		)
Operating Lease Asset	(17.2		)	—
Deferred Tax Liabilities	(236.1		)	(204.4		)
Net Deferred Tax Liability	$	(113.5	)	$	(114.1	)

Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits

Following is a reconciliation of the beginning and ending amount of unrecognized tax benefits (in millions):

Unrecognized Tax Benefits, December 31, 2016	$	10.0
Gross Increases from Prior Period Tax Positions	—
Gross Increases from Current Period Tax Positions	2.7
Settlements with Taxing Authorities	(5.3		)
Lapse of Statute of Limitations	(0.7		)
Unrecognized Tax Benefits, December 30, 2017	$	6.7
Gross Increases from Prior Period Tax Positions	—
Gross Increases from Current Period Tax Positions	0.3
Settlements with Taxing Authorities	(0.1		)
Lapse of Statute of Limitations	(0.4		)
Unrecognized Tax Benefits, December 29, 2018	$	6.5
Gross Increases from Prior Period Tax Positions	—
Gross Increases from Current Period Tax Positions	0.7
Settlements with Taxing Authorities	—
Lapse of Statute of Limitations	(0.3		)
Unrecognized Tax Benefits, December 28, 2019	$	6.9