Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Before Taxes And Noncontrolling Interest

Income before taxes consisted of the following:

	2022		2021		2020
United States	$	221.2	$	61.7	$	78.1
Foreign	392.6		248.8		170.4
Total	$	613.8	$	310.5	$	248.5

Provision For Income Taxes

The provision for income taxes is summarized as follows:

	2022		2021		2020
Current
Federal	$	101.6	$	18.2	$	7.1
State	10.2		10.6		2.7
Foreign	87.2		54.6		63.5
	$	199.0	$	83.4	$	73.3
Deferred
Federal	$	(50.7)	$	6.7	$	(2.5)
State	(12.1)		(2.0)		(0.3)
Foreign	(17.3)		(13.4)		(14.2)
	(80.1)		(8.7)		(17.0)
Total	$	118.9	$	74.7	$	56.3

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:

	2022	2021	2020
Federal Statutory Rate	21.0%	21.0%	21.0%
State Income Taxes, Net of Federal Benefit	0.5%	0.6%	0.8%
Effect of Impairment Charges	—%	2.7%	0.9%
Foreign Rate Differential	(0.2)%	0.4%	0.8%
Research and Development Credit	(1.6)%	(2.7)%	(3.0)%
Valuation Allowance	—%	(0.4)%	(0.1)%
Tax on Repatriation	1.2%	0.3%	1.2%
Transaction Costs	—%	2.0%	—%
Deferred Tax Remeasurement	(0.4)%	0.2%	(0.4)%
Other	(1.1)%	—%	1.5%
Effective Tax Rate	19.4%	24.1%	22.7%

Components Of Net Deferred Tax Asset (Liability)

The components of this net deferred tax liability are as follows:

	December 31, 2022		January 1, 2022
Accrued Benefits	$	52.1	$	55.7
Bad Debt Allowances	7.2		6.9
Warranty Accruals	6.2		4.6
Tax Loss Carryforward	7.6		8.8
Operating Lease Liability	47.1		49.8
Other	42.2		44.4
Deferred Tax Assets before Valuation Allowance	162.4		170.2
Valuation Allowance	(5.2)		(5.3)
Total Deferred Tax Assets	157.2		164.9
Property Related	(57.9)		(77.0)
Intangible Items	(585.5)		(636.2)
Accrued Liabilities	(11.6)		(15.8)
Derivative Instruments	(5.6)		(7.4)
Inventory	(5.4)		(29.7)
Operating Lease Asset	(39.1)		(42.8)
Deferred Tax Liabilities	(705.1)		(808.9)
Net Deferred Tax Liability	$	(547.9)	$	(644.0)

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:

Unrecognized Tax Benefits, December 28, 2019	$	6.9
Gross Increases from Current Period Tax Positions	0.2
Lapse of Statute of Limitations	(0.3)
Unrecognized Tax Benefits, January 2, 2021	$	6.8
Gross Increases from Prior Period Tax Positions	0.1
Gross Increases from Current Period Tax Positions	0.6
Gross Increases from Acquisitions	5.3
Lapse of Statute of Limitations	(4.0)
Unrecognized Tax Benefits, January 1, 2022	$	8.8
Gross Increases from Current Period Tax Positions	0.6
Settlements with Taxing Authorities	(2.0)
Lapse of Statute of Limitations	(1.7)
Unrecognized Tax Benefits, December 31, 2022	$	5.7