v3.22.2.2
Fair Value Measurements (Tables)
 9 Months Ended
Oct. 01, 2022
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring and Nonrecurring Basis
The table below summarizes the valuation of our financial instruments carried at fair value by the applicable pricing categories (in millions):
October 1, 2022December 31, 2021
Level 1Level 2Level 3Level 1Level 2Level 3
Measured at fair value on a recurring basis:
Assets:
Investment securities
$0.2 $— $— $0.4 $— $— 
Foreign currency forward contracts
— 9.6 — — 5.7 — 
Cross-currency swap
— 129.2 — — — — 
Interest rate swap agreements— 7.1 — — — — 
Foreign currency option contracts— — — — 5.0 — 
Total assets$0.2 $145.9 $— $0.4 $10.7 $— 
Liabilities:
Cross-currency swap$— $— $— $— $13.8 $— 
Foreign currency forward contracts— 4.6 — — 2.4 — 
Total liabilities$— $4.6 $— $— $16.2 $— 
Measured at fair value on a non-recurring basis:
Assets:
Goodwill(1)
$— $— $— $— $— $71.7 
Total assets$— $— $— $— $— $71.7 
Liabilities
Liabilities held for sale, net(2)
$— $— $— $— $— $16.8 
Total liabilities$— $— $— $— $— $16.8 

(1)     During the year ended December 31, 2021, goodwill with a carrying value of $81.7 million was written down to a fair value of $71.7 million
(2)     We measured the net assets held for sale for impairment purposes and recorded a total impairment of $162.2 million, resulting in a net liability held for sale balance as of December 31, 2021.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Our fixed rate long-term debt consisted of the following (in millions):
October 1, 2022December 31, 2021
Level 1Level 2Level 1Level 2
Public Bonds
Carrying Value (excluding discount)$2,544.4 $— $2,760.0 $— 
Fair value$2,188.3 $— $2,847.2 $— 
Private placement note
Carrying value (excluding premium)$— $— $— $153.5 
Fair value$— $— $— $162.6