Equity (Tables)

9 Months Ended

Sep. 29, 2022

Stockholders' Equity Note [Abstract]

The following table sets forth the computation of basic and diluted earnings per share:


	For the Three Months Ended
	September 29, 2022					September 30, 2021
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic EPS
Loss available to common stockholders	$	(127.6)	104.7	$	(1.22)	$	(113.6)	104.3	$	(1.09)
Income allocated to participating securities	—		—			—		—
Net loss	$	(127.6)				$	(113.6)

Diluted potential common shares			—					—
Diluted EPS
Net loss	$	(127.6)	104.7	$	(1.22)	$	(113.6)	104.3	$	(1.09)

	For the Nine Months Ended
	September 29, 2022					September 30, 2021
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic EPS
Loss available to common stockholders	$	(302.6)	104.6	$	(2.89)	$	(420.5)	104.2	$	(4.04)
Income allocated to participating securities	—		—			—		—
Net loss	$	(302.6)				$	(420.5)

Diluted potential common shares			—					—
Diluted EPS
Net loss	$	(302.6)	104.6	$	(2.89)	$	(420.5)	104.2	$	(4.04)

Included in the outstanding Common Stock were 0.4 million and 0.7 million of issued but unvested shares at September 29, 2022 and September 30, 2021, respectively, which are excluded from the basic Earnings Per Share ("EPS") calculation.

Common shares of 0.5 million and 0.6 million, respectively, were excluded from diluted EPS as a result of incurring a net loss for the three and nine months ended September 29, 2022, as the effect would have been antidilutive. Additionally, diluted EPS for the three and nine months ended September 29, 2022 excludes 0.3 million shares that may be dilutive common shares in the future, but were not included in the computation of diluted EPS because the effect was either antidilutive or the performance condition was not met.

Common shares of 0.4 million and 0.5 million, respectively, were excluded from diluted EPS as a result of incurring a net loss for the three and nine months ended September 30, 2021, as the effect would have been antidilutive. Additionally, diluted EPS for the three and nine months ended September 30, 2021 excludes 0.3 million and 0.3 million shares, respectively, that may be dilutive common shares in the future, but were not included in the computation of diluted EPS because the effect was either antidilutive or the performance condition was not met.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Loss is summarized by component as follows:


	As of		As of
	September 29, 2022		December 31, 2021
Pension	$	(70.3)	$	26.6

SERP/Retiree medical	10.9		12.1
Derivatives - foreign currency hedge	(25.4)		(2.0)
Foreign currency impact on long-term intercompany loan	(19.4)		(12.2)
Currency translation adjustment	(131.8)		(48.2)
Total accumulated other comprehensive loss	$	(236.0)	$	(23.7)