Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Notional Amounts Of Forward Contracts

The Company had the following commodity forward contracts outstanding (with maturities extending through May 2024) to hedge forecasted purchases of commodities (notional amounts expressed in terms of the dollar value of the hedged item:

	December 31, 2022		January 1, 2022
Copper	$	89.4	$	154.6
Aluminum	4.0		9.5

The Company had the following currency forward contracts outstanding (with maturities extending through June 2024) to hedge forecasted foreign currency cash flows:

	December 31, 2022		January 1, 2022
Mexican Peso	$	215.2	$	194.8
Chinese Renminbi	173.8		263.8
Indian Rupee	33.1		64.0
Euro	159.6		208.4
Canadian Dollar	—		0.3
Australian Dollar	—		17.6
Thai Baht	—		2.8
British Pound	2.1		1.3

Schedule Of Fair Values Of Derivative Instruments

Fair values of derivative instruments as of December 31, 2022 and January 1, 2022 were:

	December 31, 2022
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Other Accrued Expenses		Other Noncurrent Liabilities
Designated as Hedging Instruments:
Interest Rate Swap Contracts	$	—	$	7.9	$	—	$	—
Currency Contracts	12.3		0.9		4.8		—
Commodity Contracts	0.9		0.3		10.2		—
Not Designated as Hedging Instruments:
Currency Contracts	0.7		—		—		—
Commodity Contracts	—		—		0.4		—
Total Derivatives	$	13.9	$	9.1	$	15.4	$	—

	January 1, 2022
	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Other Accrued Expenses		Other Noncurrent Liabilities
Designated as Hedging Instruments:
Interest Rate Swap Contracts	$	—	$	5.3	$	—	$	—
Currency Contracts	8.3		0.7		1.3		—
Commodity Contracts	8.9		0.1		1.2		0.5
Not Designated as Hedging Instruments:
Currency Contracts	0.3		—		0.4		—
Commodity Contracts	0.4		—		—		0.1
Total Derivatives	$	17.9	$	6.1	$	2.9	$	0.6

Schedule Of Cash Flow Hedging Instruments

The effect of derivative instruments designated as cash flow hedges on the Consolidated Statements of Income and Consolidated Statements of Comprehensive Income for fiscal years 2022, 2021 and 2020 were:

	Fiscal 2022
					Interest
	Commodity		Currency		Rate
	Forwards		Forwards		Swaps		Total
(Loss) Gain Recognized in Other Comprehensive Income	$	(23.5)	$	11.4	$	18.2	$	6.1
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain Recognized in Net Sales	—		0.1		—		0.1
Gain Recognized in Cost of Sales	3.5		6.1		—		9.6
Gain Recognized in Operating Expense	—		—		—		—
Gain Recognized in Interest Expense	—		—		1.3		1.3

	Fiscal 2021
					Interest
	Commodity		Currency		Rate
	Forwards		Forwards		Swaps		Total
Gain Recognized in Other Comprehensive Income	$	29.9	$	11.4	$	7.0	$	48.3
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain Recognized in Net Sales	—		0.3		—		0.3
Gain Recognized in Cost of Sales	32.6		16.9		—		49.5
Gain Recognized in Operating Expense	—		2.2		—		2.2
Loss Recognized in Interest Expense	—		—		(0.4)		(0.4)

	Fiscal 2020
					Interest
	Commodity		Currency		Rate
	Forwards		Forwards		Swaps		Total
Gain (Loss) Recognized in Other Comprehensive Loss	$	14.8	$	(3.2)	$	(0.2)	$	11.4
Amounts Reclassified from Other Comprehensive Income (Loss):
Gain (Loss) Recognized in Cost of Sales	1.2		(2.9)		—		(1.7)
Loss Recognized in Operating Expense	—		(8.3)		—		(8.3)
Gain Recognized in Interest Expense	—		—		0.9		0.9

Schedule of Derivatives Not Designated as Cash Flow Hedging Instruments

The effect of derivative instruments not designated as cash flow hedges on the Consolidated Statements of Income for fiscal years 2022, 2021 and 2020 were:

	Fiscal 2022
	Commodity Forwards		Currency Forwards		Total
Loss Recognized in Cost of Sales	$	(0.6)	$	—	$	(0.6)
Gain Recognized in Operating Expenses	—		10.2		10.2

	Fiscal 2021
	Commodity Forwards		Currency Forwards		Total
Gain Recognized in Cost of Sales	$	0.2	$	—	$	0.2
Gain Recognized in Operating Expenses	—		7.2		7.2

	Fiscal 2020
	Commodity Forwards		Currency Forwards		Total
Gain Recognized in Cost of Sales	$	0.2	$	—	$	0.2
Loss Recognized in Operating Expenses	—		(8.6)		(8.6)

Derivatives Offsetting Disclosures

The following table presents the derivative assets and derivative liabilities presented on a net basis under enforceable master netting agreements:

	December 31, 2022
	Gross Amounts as Presented in the Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset		Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	13.0	$	(2.5)	$	10.5
Derivative Commodity Contracts	0.9		(0.9)		—
Other Noncurrent Assets:
Derivative Currency Contracts	0.9		—		0.9
Derivative Commodity Contracts	0.3		—		0.3
Other Accrued Expenses:
Derivative Currency Contracts	4.8		(2.5)		2.3
Derivative Commodity Contracts	10.6		(0.9)		9.7

	January 1, 2022
	Gross Amounts as Presented in the Consolidated Balance Sheet		Derivative Contract Amounts Subject to Right of Offset		Derivative Contracts as Presented on a Net Basis
Prepaid Expenses and Other Current Assets:
Derivative Currency Contracts	$	8.6	$	(1.7)	$	6.9
Derivative Commodity Contracts	9.3		(1.2)		8.1
Other Noncurrent Assets:
Derivative Currency Contracts	0.7		—		0.7
Derivative Commodity Contracts	0.1		(0.1)		—
Other Accrued Expenses:
Derivative Currency Contracts	1.7		(1.7)		—
Derivative Commodity Contracts	1.2		(1.2)		—
Other Noncurrent Liabilities:
Derivative Commodity Contracts	0.6		(0.1)		0.5