Envista (NVST) 10-Q7 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 28, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2024
Document Transition Report	false
Entity File Number	001-39054
Entity Registrant Name	ENVISTA HOLDINGS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-2206728
Entity Address, Address Line One	200 S. Kraemer Blvd., Building E
Entity Address, City or Town	Brea,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92821-6208
City Area Code	714
Local Phone Number	817-7000
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	NVST
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		171,945,497
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001757073

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,036.2	$ 940
Trade accounts receivable, less allowance for credit losses of $27.7 and $17.3, respectively	380.6	407.5
Inventories, net	263.8	258.8
Prepaid expenses and other current assets	141.3	137.4
Total current assets	1,821.9	1,743.7
Property, plant and equipment, net	290.8	309.6
Operating lease right-of-use assets	125	125.1
Other long-term assets	218.6	180.5
Goodwill, net	2,283.7	3,292.2
Other intangible assets, net	698.1	954
Total assets	5,438.1	6,605.1
Current liabilities:
Short-term debt	115.7	115.3
Trade accounts payable	172.4	179.5
Accrued expenses and other liabilities	498.8	455.7
Operating lease liabilities	34.5	30.3
Total current liabilities	821.4	780.8
Operating lease liabilities	103.8	109.9
Other long-term liabilities	147.5	142.4
Long-term debt	1,388.7	1,398.1
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued or outstanding at June 28, 2024 and December 31, 2023	0	0
Common stock, $0.01 par value, 500.0 million shares authorized; 173.9 million shares issued and 171.9 million shares outstanding at June 28, 2024; 173.3 million shares issued and 171.5 million shares outstanding at December 31, 2023	1.7	1.7
Additional paid-in capital	3,773.4	3,758.2
Accumulated (deficit) earnings	(496.8)	631.2
Accumulated other comprehensive loss	(301.6)	(217.2)
Total stockholders’ equity	2,976.7	4,173.9
Total liabilities and stockholders’ equity	$ 5,438.1	$ 6,605.1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 27.7	$ 17.3
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred shares authorized (in shares)	15,000,000	15,000,000
Preferred shares issued (in shares)	0	0
Preferred shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	173,900,000	173,300,000
Common stock, shares outstanding (in shares)	171,900,000	171,500,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement [Abstract]
Sales	$ 633.1	$ 662.4	$ 1,256.7	$ 1,289.6
Cost of sales	306.5	283.8	573.8	548.3
Gross profit	326.6	378.6	682.9	741.3
Operating expenses:
Selling, general and administrative	302.5	272.9	587.4	539
Research and development	23.6	26.8	46.9	51.3
Goodwill and intangible asset impairments	1,153.8	0	1,153.8	0
Operating (loss) profit	(1,153.3)	78.9	(1,105.2)	151
Nonoperating (expense) income:
Other (expense) income, net	(1.1)	7.1	(1)	7.4
Interest expense, net	(11.7)	(17.4)	(24.6)	(34.1)
(Loss) income before income taxes	(1,166.1)	68.6	(1,130.8)	124.3
Income tax (benefit) expense	(14.5)	16.7	(2.8)	28.6
Net (loss) income	$ (1,151.6)	$ 51.9	$ (1,128)	$ 95.7
(Loss) earnings per share:
(Loss) earnings - basic (in USD per share)	$ (6.69)	$ 0.32	$ (6.56)	$ 0.58
(Loss) earnings - diluted (in USD per share)	$ (6.69)	$ 0.29	$ (6.56)	$ 0.54
Average common stock and common equivalent shares outstanding:
Basic (in shares)	172.1	164	172	163.8
Diluted (in shares)	172.1	176.3	172	176.9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,151.6)	$ 51.9	$ (1,128)	$ 95.7
Other comprehensive income (loss), net of income taxes:
Foreign currency translation adjustments	(17.8)	(25.9)	(84)	(11.1)
Pension plan adjustments	(0.2)	(0.4)	(0.4)	(0.7)
Total other comprehensive loss, net of income taxes	(18)	(26.3)	(84.4)	(11.8)
Comprehensive (loss) income	$ (1,169.6)	$ 25.6	$ (1,212.4)	$ 83.9

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Total Equity	Common Stock	Additional Paid-in Capital	Accumulated Earnings (Deficit)	Accumulated Other Comprehensive Loss
Balance, beginning of period at Dec. 31, 2022		$ 4,206.9	$ 1.6	$ 3,699	$ 731.4	$ (225.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		13.8		13.8
Net (loss) income		43.8			43.8
Other comprehensive loss		14.5				14.5
Balance, end of period at Mar. 31, 2023		4,279	1.6	3,712.8	775.2	(210.6)
Balance, beginning of period at Dec. 31, 2022		4,206.9	1.6	3,699	731.4	(225.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ 95.7
Other comprehensive loss	(11.8)
Balance, end of period at Jun. 30, 2023		4,311	1.6	3,719.2	827.1	(236.9)
Balance, beginning of period at Mar. 31, 2023		4,279	1.6	3,712.8	775.2	(210.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity		6.4		6.4
Net (loss) income	51.9	51.9			51.9
Other comprehensive loss	(26.3)	(26.3)				(26.3)
Balance, end of period at Jun. 30, 2023		4,311	1.6	3,719.2	827.1	(236.9)
Balance, beginning of period at Dec. 31, 2023	4,173.9		1.7	3,758.2	631.2	(217.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity	9.2			9.2
Net (loss) income	23.6				23.6
Other comprehensive loss	(66.4)					(66.4)
Balance, end of period at Mar. 29, 2024	4,140.3		1.7	3,767.4	654.8	(283.6)
Balance, beginning of period at Dec. 31, 2023	4,173.9		1.7	3,758.2	631.2	(217.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(1,128)
Other comprehensive loss	(84.4)
Balance, end of period at Jun. 28, 2024	2,976.7	2,976.7	1.7	3,773.4	(496.8)	(301.6)
Balance, beginning of period at Mar. 29, 2024	4,140.3		1.7	3,767.4	654.8	(283.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock-based award activity	6			6
Net (loss) income	(1,151.6)				(1,151.6)
Other comprehensive loss	(18)	(18)				(18)
Balance, end of period at Jun. 28, 2024	$ 2,976.7	$ 2,976.7	$ 1.7	$ 3,773.4	$ (496.8)	$ (301.6)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (1,128)	$ 95.7
Noncash items:
Depreciation	21.1	17.9
Amortization	45	52
Allowance for credit losses	13.8	3.2
Stock-based compensation expense	16.3	20.2
Loss (gain) on equity investments, net	1.1	(6.9)
Restructuring charges	0	0.8
Goodwill and intangible asset impairments	1,153.8	0
Fixed assets impairments and other charges	17.1	0.2
Non-cash operating lease costs	15	13.1
Amortization of debt discount and issuance costs	2.3	2.1
Deferred income taxes	(46.1)	1
Change in trade accounts receivable	5.1	(24)
Change in inventories	(11)	(3.9)
Change in trade accounts payable	(5)	(47.1)
Change in prepaid expenses and other assets	(3.7)	(2.1)
Change in accrued expenses and other liabilities	56.7	(27.2)
Change in operating lease liabilities	(20.1)	(16.8)
Net cash provided by operating activities	133.4	78.2
Cash flows from investing activities:
Payments for additions to property, plant and equipment	(17.8)	(31.6)
Proceeds from sale of equity investment	0.4	10.7
All other investing activities, net	0.8	(3.9)
Net cash used in investing activities	(16.6)	(24.8)
Cash flows from financing activities:
Proceeds from stock option exercises	1.9	5.9
Tax withholding payment related to net settlement of equity awards	(3.4)	(6.4)
All other financing activities	(0.8)	1.6
Net cash (used in) provided by financing activities	(2.3)	1.1
Effect of exchange rate changes on cash and cash equivalents	(18.3)	(9.7)
Net change in cash and cash equivalents	96.2	44.8
Beginning balance of cash and cash equivalents	940	606.9
Ending balance of cash and cash equivalents	1,036.2	651.7
Supplemental data:
Cash paid for interest	29.5	35.3
Cash paid for taxes	15.9	33.5
ROU assets obtained in exchange for operating lease obligations	$ 19.5	$ 12.1

Business And Basis Of Presentat

Business And Basis Of Presentation	6 Months Ended
Business And Basis Of Presentation	Jun. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Business Overview The Company provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, as well as to improve the aesthetics of the human smile. The Company is a worldwide provider of a broad range of dental implants, orthodontic appliances, diagnostic solutions, general dental consumables, equipment and services and is dedicated to driving technological innovations that help dental professionals improve clinical outcomes and enhance productivity. The Company operates in two business segments: Specialty Products & Technologies and Equipment & Consumables. The Company’s Specialty Products & Technologies segment primarily develops, manufactures and markets dental implant systems, including regenerative solutions, dental prosthetics and associated treatment software and technologies, as well as orthodontic bracket systems, aligners and lab products. The Company’s Equipment & Consumables segment primarily develops, manufactures and markets dental equipment and supplies used in dental offices, including digital imaging systems, software and other visualization/magnification systems; endodontic systems and related consumables; and restorative materials and instruments, rotary burs, impression materials, bonding agents and cements and infection prevention products. Basis of Presentation All revenues and costs as well as assets and liabilities directly associated with the business activity of the Company are included in the financial statements. All significant intercompany accounts and transactions between the businesses comprising the Company have been eliminated in the accompanying Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The accompanying Condensed Consolidated Financial Statements contain all adjustments (consisting of only normal recurring adjustments and reclassifications to conform to current year presentation) necessary to present fairly the financial position of the Company as of June 28, 2024 and December 31, 2023, and its results of operations for the three and six month periods ended June 28, 2024 and June 30, 2023 and cash flows for the six month periods ended June 28, 2024 and June 30, 2023. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Consolidated Financial Statements and accompanying notes for the three years ended December 31, 2023, included in the Annual Report on Form 10-K filed by the Company with the SEC on February 15, 2024. Accounting Standards Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ”. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. Adoption of the ASU allows for either the prospective or retrospective application of the amendment and is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company has not yet completed its assessment of the impact of ASU 2023-09 on the Company’s Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting - Improving Reportable Segment Disclosures (Topic 280)” . The update is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Adoption of the ASU requires retrospective application to all prior periods presented in the financial statements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for fiscal periods after December 15, 2024 for interim periods. Early adoption is permitted. The Company has not yet completed its assessment of the impact of ASU 2023-07 on the Company’s Condensed Consolidated Financial Statements.

Credit Losses

Credit Losses	6 Months Ended
Credit Losses	Jun. 28, 2024
Credit Loss [Abstract]
Credit Losses	CREDIT LOSSES The allowance for credit losses is a valuation account deducted from accounts receivable to present the net amount expected to be collected. Accounts receivable are charged off against the allowance when management believes the uncollectibility of an accounts receivable balance is confirmed. Management estimates the adequacy of the allowance by using relevant available information, from internal and external sources, relating to past events, current conditions and forecasts. Historical credit loss experience provides the basis for estimation of expected credit losses and is adjusted as necessary using the relevant information available. The allowance for credit losses is measured on a collective basis when similar risk characteristics exist. The Company has identified one portfolio segment based on the following risk characteristics: geographic regions, product lines, default rates and customer specific factors. The factors used by management in its credit loss analysis are inherently subject to uncertainty. If actual results are not consistent with management’s estimates and assumptions, the allowance for credit losses may be overstated or understated and a charge or credit to net income (loss) may be required. The rollforward of the allowance for credit losses is summarized as follows ($ in millions): Balance at December 31, 2023 $ 17.3 Foreign currency translation (0.5) Provision for credit losses 13.8 Write-offs charged against the allowance (1.4) Recoveries (1.5) Balance at June 28, 2024 $ 27.7

Inventories

Inventories	6 Months Ended
Inventories	Jun. 28, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The classes of inventory are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Finished goods $ 207.8 $ 196.4 Work in process 24.6 17.2 Raw materials 90.7 100.3 Reserve for inventory obsolescence (59.3) (55.1) Total $ 263.8 $ 258.8

Property, Plant And Equipment

Property, Plant And Equipment	6 Months Ended
Property, Plant And Equipment	Jun. 28, 2024
Property, Plant and Equipment [Abstract]
Property, Plant And Equipment	PROPERTY, PLANT AND EQUIPMENT The classes of property, plant and equipment are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Land and improvements $ 10.0 $ 10.0 Buildings and improvements 165.6 157.4 Machinery, equipment and other assets 420.7 417.9 Construction in progress 43.7 65.3 Gross property, plant and equipment 640.0 650.6 Less: accumulated depreciation (349.2) (341.0) Property, plant and equipment, net $ 290.8 $ 309.6 During the three and six months ended June 28, 2024, the Company recognized fixed asset impairment charges of $13.0 million for specific assets included in machinery, equipment and other assets and construction in progress related to its Specialty Products & Technologies segment. The fixed asset impairment charge is recorded as a component of cost of sales

Equity Security Investments Usi

Equity Security Investments Using The Measurement Alternative Method	6 Months Ended
	Jun. 28, 2024
Investments, Debt and Equity Securities [Abstract]
Equity Security Investments Using The Measurement Alternative Method	EQUITY SECURITY INVESTMENTS USING THE MEASUREMENT ALTERNATIVE METHOD The summary below represents the Company’s equity security investments that do not have readily determinable fair values. The Company records these investments using the measurement alternative method and therefore such investments are recorded at cost and remeasured to fair value upon observable price changes in orderly transactions for the identical or similar investment of the same issuer, or upon impairment. The Company records these investments as Other long-term assets in the Condensed Consolidated Balance Sheets and are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Equity security investments $ 26.7 $ 28.6 The Company records net realized and unrealized gains (losses) for the above security investments in other income (expense), net, in the Condensed Consolidated Statements of Operations. Net unrealized losses are summarized as follows ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Investment Losses Unrealized losses $ (1.5) $ — $ (1.5) $ — Total $ (1.5) $ — $ (1.5) $ —

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
Goodwill and Other Intangible Assets	Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets result from the Company’s acquisition of existing businesses. In accordance with accounting standards related to business combinations, goodwill and indefinite-lived intangibles are not amortized; however, certain finite-lived identifiable intangible assets, primarily customer relationships and acquired technology, are amortized over their estimated useful lives. The Company assesses both goodwill and indefinite-lived intangible assets for impairment as of the first day of the fourth quarter annually or more frequently if events or changes in circumstances indicate the asset might be impaired. In preparing its financial statements for the quarter ended June 28, 2024, the Company identified indicators of a "more likely than not" impairment related to its various reporting units within the Specialty Products & Technologies and Equipment & Consumables segments. The Company has experienced adverse macroeconomic factors as a result of weakened global demand, a sustained suppressed stock price, higher cost of capital, and increased raw material, supply chain and service costs, which are contributing to reduced revenue forecasts, lower operating margins, and reduced expectations of future cash flows. The Company used the income approach in performing its goodwill impairment test in order to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value amount. The Company’s reporting units are the financial components of operating segments which constitute businesses for which discrete financial information is available and regularly reviewed by segment management. The income approach uses a discounted cash flow model with inputs developed using both internal and market-based data. The Company's significant assumptions in the discounted cash flow models vary amongst, and are specific to, each reporting unit which include, but are not limited to, discount rates, revenue growth rates assumptions (including perpetual growth rates) and operating margin percentages. These assumptions were developed in light of current market conditions and future expectations which include, but were not limited to, impact of competition, new product development and future economic conditions. As a result, the Company recorded a pre-tax goodwill impairment charge of $707.8 million related to its Specialty Products & Technologies segment and $252.7 million related to its Equipment & Consumables segment. The reduction in value is primarily due to adverse macroeconomic factors such as a sustained suppressed stock price, higher cost of borrowing and inflationary pressures, geopolitical factors, and lower forecast of operating results which contributed to reduced expectations of future cash flows as mentioned above. The Company used the relief from royalty method to estimate the fair value of its indefinite-lived intangible assets. The Company's significant assumptions vary amongst, and are specific to, each underlying indefinite-lived intangible asset which include, but are not limited to, revenue growth rates assumptions (including perpetual growth rates), discount rates and royalty rates. The Company recorded an impairment charge of $101.1 million related to certain indefinite-lived trade names within the Specialty Products & Technologies segment. The reduction in value is primarily due to a reduction in projected cash flows due to the factors discussed above. Any deviation in actual financial results compared to the forecasted financial results or valuation assumptions used in the impairment tests, a decline in equity valuations, increases in interest rates, or changes in the use of intangible assets, among other factors, could have a material adverse effect on the fair value of either the reporting units or indefinite-lived intangible assets and could result in future impairment charges. There can be no assurance that the Company’s future asset impairment testing will not result in a material charge to earnings. These impairment charges described above are recorded in the goodwill and intangible asset impairment line within the Condensed Consolidated Statements of Operations. There were no goodwill impairment charges recorded for the three or six month periods ended June 30, 2023. The following is a rollforward of the Company’s goodwill by segment ($ in millions): Specialty Products & Technologies Equipment & Consumables Total Gross Accumulated Impairment Charges Total Gross Accumulated Impairment Charges Total Gross Accumulated Impairment Charges Total Balance at December 31, 2023 $ 2,007.0 $ (134.5) $ 1,872.5 $ 1,497.5 $ (77.8) $ 1,419.7 $ 3,504.5 $ (212.3) $ 3,292.2 Impairment charges — (707.8) $ (707.8) — (252.7) $ (252.7) — (960.5) $ (960.5) Foreign currency translation (40.2) — (40.2) (7.8) — (7.8) (48.0) — (48.0) Balance at June 28, 2024 $ 1,966.8 $ (842.3) $ 1,124.5 $ 1,489.7 $ (330.5) $ 1,159.2 $ 3,456.5 $ (1,172.8) $ 2,283.7 Additionally, management reviews the carrying amounts of other finite-lived intangible assets whenever events or circumstances indicate that the carrying amounts of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit, and adverse legal or regulatory developments. If it is determined that such indicators are present and the review indicates that the assets will not be fully recoverable based on undiscounted estimated cash flows, their carrying values are reduced to estimated fair market value. Estimated fair market value is determined primarily using projected cash flows discounted at a rate commensurate with the risk involved. For the purposes of identifying and measuring impairment, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For the three and six months ended June 28, 2024, the Company recorded an impairment charge of $92.2 million related to developed technology and customer relationships within the Equipment & Consumables segment. The reduction in value is primarily due to a reduction in projected cash flows due to the factors discussed above. Finite-lived intangible assets are amortized over the shorter of their legal or estimated useful life. The following summarizes the gross carrying value, accumulated amortization and accumulated impairment losses, for each major category of intangible asset ($ in millions): As of June 28, 2024 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 432.4 $ (281.1) $ (87.2) $ 64.1 Customer relationships and other intangibles 910.0 (718.2) (5.0) 186.8 Trademarks and trade names 224.8 (120.8) — 104.0 Total finite-lived intangibles 1,567.2 (1,120.1) (92.2) 354.9 Indefinite-lived intangibles: Trademarks and trade names 490.3 — (147.1) 343.2 Total intangibles $ 2,057.5 $ (1,120.1) $ (239.3) $ 698.1 As of December 31, 2023 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 439.5 $ (269.1) $ — $ 170.4 Customer relationships and other intangibles 928.1 (706.9) — 221.2 Trademarks and trade names 225.5 (115.8) — 109.7 Total finite-lived intangibles 1,593.1 (1,091.8) — 501.3 Indefinite-lived intangibles: Trademarks and trade names 498.7 — (46.0) 452.7 Total intangibles $ 2,091.8 $ (1,091.8) $ (46.0) $ 954.0

Accrued Expenses And Other Liab

Accrued Expenses And Other Liabilities	6 Months Ended
Accrued Expenses And Other Liabilities	Jun. 28, 2024
Accrued expenses and other [Abstract]
Accrued Expenses and Other Liabilities	ACCRUED EXPENSES AND OTHER LIABILITIES Accrued expenses and other liabilities were as follows ($ in millions): June 28, 2024 December 31, 2023 Current Noncurrent Current Noncurrent Compensation and benefits $ 127.1 $ 24.6 $ 120.0 $ 23.1 Sales and product allowances 64.7 1.5 72.0 1.7 Contract liabilities 112.8 19.6 106.4 8.4 Taxes, income and other 76.1 41.9 39.9 44.3 Restructuring-employee severance, benefits and other 9.9 — 16.0 — Pension benefits 5.8 23.8 5.8 30.1 Loss contingencies 8.4 26.8 11.0 27.0 Other 94.0 9.3 84.6 7.8 Total $ 498.8 $ 147.5 $ 455.7 $ 142.4

Hedging Transactions And Deriva

Hedging Transactions And Derivative Financial Instruments	6 Months Ended
Hedging Transactions And Derivative Financial Instruments	Jun. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Transactions and Derivative Financial Instruments	HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS The Company uses cross-currency swap derivative contracts to partially hedge its net investments in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro. The cross-currency swap derivative contracts are agreements to exchange fixed-rate payments in one currency for fixed-rate payments in another currency. On January 17, 2023, the Company entered into a two-year cross-currency swap derivative contract, with a notional value of $150.0 million. This contract effectively converts a portion of the Company’s U.S. dollar denominated senior term loan facilities to obligations denominated in euros and partially offsets the impact of changes in currency rates on foreign currency denominated net investments. This instrument matures on January 17, 2025. The Company also has foreign currency denominated long-term debt consisting of a senior euro term loan facility. The senior euro term loan facility represents a partial hedge of the Company’s net investment in foreign operations against adverse movements in exchange rates between the U.S. dollar and the euro. The senior euro term loan facility is designated and qualifies as a non-derivative hedging instrument. Refer to Note 12 for further discussion of the Company’s debt and credit facilities. The change in the fair value of the cross-currency swap instrument and the foreign currency translation of the senior euro term loan facilities are recorded in accumulated other comprehensive loss in equity in the accompanying Condensed Consolidated Balance Sheets, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in accumulated other comprehensive loss as reflected in Note 13. The Company has also historically used interest rate swap derivative contracts to reduce its variability of cash flows related to interest payments with respect to its senior term and senior euro term loan facilities. The interest rate swap contracts exchanged interest payments based on variable rates for interest payments based on fixed rates. The changes in the fair value of these instruments are recorded in accumulated other comprehensive loss in equity (see Note 13). The interest income or expense from the cross-currency and interest rate swaps is recorded in interest expense, net in the Company’s Condensed Consolidated Statements of Operations consistent with the classification of interest expense attributable to the underlying debt. The Company did not have any outstanding interest rate swap contracts as of June 28, 2024. The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive loss (“OCI”) for the three and six months ended June 28, 2024 and June 30, 2023 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 $ 2.8 $ 227.0 $ (1.5) Foreign currency contract 150.0 1.0 150.0 (1.7) Total $ 525.0 $ 3.8 $ 377.0 $ (3.2) Six Months Ended Six Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 11.4 $ 227.0 $ (4.3) Foreign currency contract 150.0 4.3 150.0 (1.7) Total $ 525.0 $ 15.7 $ 377.0 $ (6.0) The Company did not reclassify any deferred gains or losses related to its net investment hedge from accumulated other comprehensive loss to income during the three and six months ended June 28, 2024 and June 30, 2023. In addition, the Company did not have any ineffectiveness related to its net investment hedge and therefore did not reclassify any portion of the above net investment hedge from accumulated other comprehensive loss into income during the three and six months ended June 28, 2024 and June 30, 2023. The cash inflows and outflows associated with the Company’s derivative contract designated as a net investment hedge is classified in investing activities in the accompanying Condensed Consolidated Statements of Cash Flows. The Company’s derivative instrument, as well as its non-derivative debt instrument designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions): June 28, 2024 December 31, 2023 Derivative assets: Prepaid expenses and other current assets $ 1.0 $ — Derivative liabilities: Other long-term liabilities $ — $ 3.3 Nonderivative hedging instruments: Long-term debt $ 375.0 $ 386.4 Amounts related to the Company’s derivative expected to be reclassified from accumulated other comprehensive loss to net income during the next 12 months is not significant.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 28, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Accounting standards define fair value based on an exit price model, establish a framework for measuring fair value where the Company’s assets and liabilities are required to be carried at fair value and provide for certain disclosures related to the valuation methods used within a valuation hierarchy as established within the accounting standards. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in markets that are not active, or other observable characteristics for the asset or liability, including interest rates, yield curves and credit risks, or inputs that are derived principally from, or corroborated by, observable market data through correlation; and Level 3 inputs are unobservable inputs based on the Company’s assumptions. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions): Quoted Prices in Significant Other Significant Total June 28, 2024: Assets: Cross-currency swap derivative contracts $ — $ 1.0 $ — $ 1.0 Liabilities: Deferred compensation plans $ — $ 23.4 $ — $ 23.4 Contingent consideration $ — $ — $ 2.8 $ 2.8 December 31, 2023: Liabilities: Cross-currency swap derivative contract $ — $ 3.3 $ — $ 3.3 Deferred compensation plans $ — $ 21.4 $ — $ 21.4 Contingent consideration $ — $ — $ 3.8 $ 3.8 Derivative Instruments The cross-currency swap derivative contract was classified as Level 2 in the fair value hierarchy as it is measured using the income approach with the relevant foreign currency current exchange rates and forward curves as inputs. Refer to Note 8 for additional information. Deferred Compensation Plans Certain management employees of the Company participate in nonqualified deferred compensation programs that permit such employees to defer a portion of their compensation, on a pretax basis. All amounts deferred under this plan are unfunded, unsecured obligations and are presented as a component of the Company’s compensation and benefits accrual included in accrued expenses in the accompanying Condensed Consolidated Balance Sheets (refer to Note 7). Participants may choose among alternative earnings rates for the amounts they defer, which are primarily based on investment options within the Company’s 401(k) program. Changes in the deferred compensation liability under these programs are recognized based on changes in the fair value of the participants’ accounts, which are based on the applicable earnings rates on investment options within the Company’s 401(k) program. Amounts voluntarily deferred by employees into the Company stock fund and amounts contributed to participant accounts by the Company are deemed invested in the Company’s common stock and future distributions of such contributions will be made solely in shares of Company common stock, and therefore are not reflected in the above amounts. Contingent Consideration Contingent consideration represents a cash hold back intended to be used for certain liabilities related to the Company’s acquisitions. Contingent consideration was classified as Level 3 in the fair value hierarchy as the estimated fair value was measured using a probability weighted discounted cash flow model. Fair Value of Financial Instruments The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): June 28, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cross-currency swap derivative contracts $ 1.0 $ 1.0 $ — $ — Liabilities: Contingent consideration $ 2.8 $ 2.8 $ 3.8 $ 3.8 Cross-currency swap derivative contract $ — $ — $ 3.3 $ 3.3 Convertible senior notes due 2028 $ 488.3 $ 426.5 $ 486.9 $ 455.7 Convertible senior notes due 2025 $ 115.7 $ 118.7 $ 115.3 $ 145.1 Other debt $ 900.4 $ 900.4 $ 911.2 $ 911.2

Warranty

Warranty	6 Months Ended
Warranty	Jun. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Warranty	WARRANTY The Company generally accrues estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly and appropriately maintained. Warranty periods depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor and in certain instances estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known. At June 28, 2024 and December 31, 2023, the warranty liability was $8.1 million and $9.0 million, respectively.

Litigation And Contingencies

Litigation And Contingencies	6 Months Ended
Litigation And Contingencies	Jun. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Litigation And Contingencies	LITIGATION AND CONTINGENCIES The Company records accruals for loss contingencies associated with legal matters when it is probable that a liability will be incurred, and the amount of the loss can be reasonably estimated. For litigation matters that the Company has determined are both probable and can be reasonably estimated, the Company has accrued $35.2 million and $38.0 million as of June 28, 2024 and December 31, 2023, respectively, which are included in accrued liabilities in the Condensed Consolidated Balance Sheets. The Company has accrued for these matters and will continue to monitor each related legal issue and adjust accruals as might be warranted based on new information and further developments in accordance with Accounting Standards Codification (“ASC”) 450-20-25. Amounts accrued for legal contingencies often result from a complex series of judgments about future events and uncertainties that rely heavily on estimates and assumptions including timing of related payments. The ability to make such estimates and judgments can be affected by various factors including, among other things, whether damages sought in the proceedings are unsubstantiated or indeterminate; legal discovery has not commenced or is not complete; proceedings are in early stages; matters present legal uncertainties; there are significant facts in dispute; procedural or jurisdictional issues; the uncertainty and unpredictability of the number of potential claims; or there are numerous parties involved. To the extent adverse verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated. In the Company's opinion, based on its examination of these matters, its experience to date and discussions with counsel, the ultimate outcome of legal proceedings, net of liabilities accrued in the Company's Condensed Consolidated Balance Sheets, is not expected to have a material adverse effect on the Company's financial position. However, the resolution of, or increase in accruals for one or more of these matters in any reporting period may have a material adverse effect on the Company’s results of operations and cash flows for that period.

Debt And Credit Facilities

Debt And Credit Facilities	6 Months Ended
Debt And Credit Facilities	Jun. 28, 2024
Debt Disclosure [Abstract]
Debt And Credit Facilities	DEBT AND CREDIT FACILITIES The components of the Company’s debt were as follows, net of debt discount and debt issuance costs ($ in millions): June 28, 2024 December 31, 2023 Senior term loan facility due 2028 (the “2028 Term Loan”) $ 526.3 $ 525.8 Senior euro term loan facility due 2028 (the “2028 Euro Term Loan”) 374.1 385.4 Convertible senior notes due 2028 (the “2028 Convertible Notes”) 488.3 486.9 Convertible senior notes due 2025 (the “2025 Convertible Notes”) 115.7 115.3 Total debt 1,504.4 1,513.4 Less: current portion (115.7) (115.3) Long-term debt $ 1,388.7 $ 1,398.1 Credit Facilities On August 31, 2023, the Company entered into a second amended and restated credit agreement (the “Second Amended Credit Agreement”), which amends and restates the Company’s credit agreement dated June 15, 2021. The amended and restated credit agreement dated June 15, 2021, consisted of a $650.0 million Term Loan and a €208.0 million Euro Term Loan (collectively the “2024 Term Loans”), which were due in 2024. Additionally, the amended and restated credit agreement dated June 15, 2021 included a revolving credit facility with an aggregate available borrowing capacity of $750.0 million and a $20.0 million sublimit for the issuance of standby letters of credit. Under the Second Amended Credit Agreement, the Company entered into the 2028 Term Loan for $530.0 million and the 2028 Euro Term Loan for €350.0 million (collectively the “2028 Term Loans”). The Second Amended Credit Agreement also includes a revolving credit facility (together with the 2028 Term Loans, the “Senior Credit Facilities”) with an aggregate available borrowing capacity of $750.0 million and a $30.0 million sublimit for the issuance of standby letters of credit that can be used for working capital and other general corporate purposes. The Company may request further increases to the revolving credit facility by an amount that is the greater of 100% of Consolidated EBITDA or $525.0 million. As of June 28, 2024 and December 31, 2023 there were no borrowings outstanding under this revolving credit facility. The Senior Credit Facilities mature on August 31, 2028, and are subject to an earlier maturity date of 91 days prior to the maturity date of the 2028 Convertible Notes, if more than $250.0 million of such notes are outstanding at that time. The proceeds from the 2028 Term Loans were used to pay outstanding balances of the 2024 Term Loans. The Company paid fees aggregating approximately $5.2 million in connection with the Second Amended Credit Agreement. Under the Senior Credit Facilities, borrowings bear interest as follows: (1) Term SOFR Loans (as defined in the Second Amended Credit Agreement) bear interest at a variable rate on a forward-looking Secured Overnight Financing Rate (“SOFR”) term rate plus 0.10% credit spread adjustment plus a margin of between 0.910% and 1.625%, depending on the Company’s Consolidated Leverage Ratio (as defined in the Second Amended Credit Agreement) as of the last day of the immediately preceding fiscal quarter; and (2) Base Rate Loans (as defined in the Second Amended Credit Agreement) bear interest at a variable rate equal to (a) the highest of (i) the Federal funds rate (as published by the Federal Reserve Bank of New York from time to time) plus 0.50%, (ii) Bank of America’s “prime rate” as publicly announced from time to time, (iii) the Term SOFR (as defined in the Second Amended Credit Agreement) plus 1.0% and (iv) 1.0%, plus a margin of between 0.0% and 0.625%, depending on the Company’s Consolidated Leverage Ratio as of the last day of the immediately preceding fiscal quarter. In no event will Term SOFR Loans or Base Rate Loans bear interest at a rate lower than 0.0%. In addition, the Company is required to pay a per annum facility fee of between 0.09% and 0.225% depending on the Company’s Consolidated Leverage Ratio as of the last day of the immediately preceding fiscal quarter and based on the aggregate commitments under the revolving credit facility, whether drawn or not. The interest rates for borrowings under the 2028 Term Loan were 6.68% and 6.70% as of June 28, 2024 and December 31, 2023, respectively. The interest rates for borrowings under the 2028 Euro Term Loan were 4.80% and 5.00% as of June 28, 2024 and December 31, 2023, respectively. Interest is payable monthly for the 2028 Term Loans. The Company is required to maintain a Consolidated Leverage Ratio of 4.00 to 1.00 or less and includes a provision that the maximum Consolidated Leverage Ratio will be increased to 4.50 to 1.00 for the three consecutive full fiscal quarters immediately following the consummation of any acquisition by the Company or any subsidiary of the Company in which the purchase price exceeds $100.0 million. The Company is also required to maintain a Consolidated Interest Coverage Ratio (as defined in the Second Amended Credit Agreement) of at least 3.00 to 1.00. The Company is subject to customary representations, warranties, conditions precedent, events of default, indemnities and affirmative and negative covenants, including covenants that, among other things, limit or restrict the Company’s and/or the Company’s subsidiaries’ ability, subject to certain exceptions and qualifications, to incur liens or indebtedness, merge, consolidate or sell or otherwise transfer assets, make dividends or distributions, enter into transactions with the Company’s affiliates and use proceeds of the debt financing for other than permitted uses. Additionally, upon the occurrence and during the continuance of an event of default, the lenders may declare the outstanding advances and all other obligations immediately due and payable. The Company was in compliance with all of its debt covenants as of June 28, 2024. 2028 Convertible Notes On August 10, 2023, the Company issued the 2028 Convertible Notes due on August 15, 2028, unless earlier repurchased, redeemed or converted. The aggregate principal amount, which includes the initial purchasers’ exercise in full of their option to purchase an additional $65.2 million principal amount, was $500.2 million. The net proceeds from the issuance, after deducting purchasers’ discounts and estimated offering expenses, were $485.9 million. The 2028 Convertible Notes accrue interest at a rate of 1.75% per annum, payable semi-annually in arrears on February 15 and August 15 of each year. The 2028 Convertible Notes have an initial conversion rate of 21.5942 shares of the Company’s common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $46.31 per share of the Company’s common stock and is subject to adjustment upon the occurrence of specified events. The 2028 Convertible Notes are governed by an indenture dated as of August 10, 2023 (the “Indenture”) between the Company and Wilmington Trust, National Association, as trustee. The Indenture does not contain any financial covenants or any restrictions on the payment of dividends, the incurrence of senior debt or other indebtedness or the issuance or repurchase of the Company’s securities by the Company. The 2028 Convertible Notes are senior, unsecured obligations and are (i) equal in right of payment with the Company’s existing and future senior, unsecured indebtedness; (ii) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the 2028 Convertible Notes; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries. Holders of the 2028 Convertible Notes may convert at any time on or after February 15, 2028 until the close of business on the second scheduled trading day immediately before the maturity date. Holders will also have the right to convert prior to February 15, 2028, but only upon the occurrence of specified events. The Company will settle any convertible note conversions through a combination settlement by satisfying the principal amount outstanding with cash and any convertible note conversion value in excess of the principal amount in cash or shares of the Company’s common stock or any combination thereof. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2028 Convertible Notes for cash at a repurchase price equal to 100% of the principal amount plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert in connection with such an event in certain circumstances. As of June 28, 2024, none of the conditions permitting early conversion by holders had been met, therefore, the 2028 Convertible Notes are classified as long-term debt. The 2028 Convertible Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after August 17, 2026 and on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount to be redeemed, plus accrued and unpaid interest, if any, to, but excluding the redemption date, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling any 2028 Convertible Note for redemption will constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) with respect to that 2028 Convertible Note, in which case the conversion rate applicable to the conversion will be increased in certain circumstances if it is converted after it is called for redemption. The 2028 Convertible Notes are accounted for in accordance with ASC 470 “Debt” and ASC 815 “Derivatives and Hedging.” The Company has evaluated all the embedded conversion options contained in the 2028 Convertible Notes to determine if there are embedded features that require bifurcation as a derivative as required by U.S. GAAP. Based on the Company’s analysis, it accounts for the 2028 Convertible Notes as single units of accounting, a liability, because the Company concluded that the conversion features do not require bifurcation as a derivative. 2025 Convertible Notes On May 21, 2020, the Company issued the 2025 Convertible Notes due on June 1, 2025, unless earlier repurchased, redeemed or converted. The aggregate principal amount, which includes the initial purchasers’ exercise in full of their option to purchase an additional $67.5 million principal amount was $517.5 million. The net proceeds from the issuance, after deducting purchasers’ discounts and estimated offering expenses, were $502.6 million. The Company used part of the net proceeds to pay for the capped call transactions (“Capped Calls”) as further described below. On August 10, 2023, the Company entered into exchange agreements with a limited number of holders of the 2025 Convertible Notes to exchange $401.2 million principal amount of the 2025 Convertible Notes for aggregate consideration which consisted of approximately $403.0 million in cash, which included accrued interest, and approximately 8.4 million shares of the Company’s common stock (the “Notes Exchanges”). The 2025 Convertible Notes accrue interest at a rate of 2.375% per annum, payable semi-annually in arrears on June 1 and December 1 of each year. The 2025 Convertible Notes have an initial conversion rate of 47.5862 shares of the Company’s common stock per $1,000 principal amount, which is equivalent to an initial conversion price of approximately $21.01 per share of the Company’s common stock and is subject to adjustment upon the occurrence of specified events. The 2025 Convertible Notes are governed by an indenture dated as of May 21, 2020 (the “2025 Convertible Note Indenture”) between the Company and Wilmington Trust, National Association, as trustee. The 2025 Convertible Note Indenture does not contain any financial covenants or any restrictions on the payment of dividends, the incurrence of senior debt or other indebtedness or the issuance or repurchase of the Company’s securities by the Company. The 2025 Convertible Notes are senior, unsecured obligations and are (i) equal in right of payment with the Company’s existing and future senior, unsecured indebtedness; (ii) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the 2025 Convertible Notes; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries. Holders may convert at any time on or after December 2, 2024, until the close of business on the second scheduled trading day preceding the maturity date. Holders will also have the right to convert prior to December 2, 2024, but only upon the occurrence of specified events. The Company will settle any convertible note conversions through a combination settlement by satisfying the principal amount outstanding with cash and any convertible note conversion value in excess of the principal amount in cash or shares of the Company’s common stock or any combination thereof. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2025 Convertible Notes for cash at a repurchase price equal to 100.0% of the principal amount plus any accrued and unpaid interest. In addition, if specific corporate events occur prior to the maturity date, the Company would increase the conversion rate for a holder who elects to convert in connection with such an event in certain circumstances. The 2025 Convertible Notes are classified as short-term debt as of June 28, 2024 and December 31, 2023, as holders may convert at any time after December 2, 2024. The 2025 Convertible Notes are redeemable, in whole or in part, at the Company’s option at any time, on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amounts to be redeemed, plus accrued and unpaid interest, if any, to, but excluding the redemption date, but only if the last reported sale price per share of the Company’s common stock exceeds 130.0% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling any 2025 Convertible Note for redemption will constitute a “Make-Whole Fundamental Change”, as defined in the 2025 Convertible Note Indenture, in which case the conversion rate applicable to the conversion will be increased in certain circumstances if it is converted after it is called for redemption. The following table sets forth total interest expense recognized related to convertible notes ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Contractual interest expense: 2028 Convertible Notes $ 2.2 $ — $ 4.4 $ — 2025 Convertible Notes 0.7 3.0 1.4 6.1 Amortization of debt issuance costs: 2028 Convertible Notes 0.7 — $ 1.4 — 2025 Convertible Notes 0.1 0.8 $ 0.3 1.5 Total interest expense $ 3.7 $ 3.8 $ 7.5 $ 7.6 For the three and six months ended June 28, 2024 and June 30, 2023, the debt issuance costs were amortized using an annual effective interest rate of 2.4% and 3.0% for the 2028 Convertible Notes and the 2025 Convertible Notes, respectively. As of June 28, 2024, the if-converted value of the 2025 Convertible Notes and the 2028 Convertible Notes did not exceed their respective outstanding principal amounts. As of December 31, 2023, the if-converted value of the 2025 Convertible Notes exceeded the outstanding principal amount by $16.9 million. As of December 31, 2023, the if-converted value of the 2028 Convertible Notes did not exceed the outstanding principal. Debt Issuance Costs The remaining unamortized debt issuance costs for debt outstanding were as follows ($ in millions): June 28, 2024 December 31, 2023 2028 Convertible Notes $ 11.9 $ 13.3 2025 Convertible Notes 0.7 1.0 2028 Term Loan 3.7 4.2 2028 Euro Term Loan 0.9 1.0 $ 17.2 $ 19.5 The above unamortized debt issuance costs have been netted against their respective aggregate principal amounts of the related debt and are being amortized to interest expense over the term of the respective debt. Capped Call Transactions In connection with the offering of the 2025 Convertible Notes, the Company entered into Capped Calls with certain counterparties. The Capped Calls have an initial strike price of approximately $21.01 per share, subject to certain adjustments, which corresponds to the initial conversion price of the 2025 Convertible Notes. The Capped Calls have initial cap prices of $23.79 per share, subject to certain adjustments. The Capped Calls are generally intended to reduce or offset the potential dilution from shares of common stock issued upon any conversion of the 2025 Convertible Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. In connection with the Notes Exchanges as discussed above, the Company completed a partial unwind of the Capped Calls. As the Capped Call transactions are considered indexed to the Company's own stock and are considered equity classified, they are recorded in equity and are not accounted for as derivatives. The cost of $20.7 million incurred in connection with the Capped Calls was recorded as a reduction to additional paid-in capital.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jun. 28, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in accumulated other comprehensive loss by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended June 28, 2024 Balance, March 29, 2024 $ (289.9) $ 6.3 $ (283.6) Other comprehensive loss before reclassifications: Decrease (16.9) — (16.9) Income tax impact (0.9) — (0.9) Other comprehensive loss before reclassifications, net of income taxes (17.8) — (17.8) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.2) (0.2) Income tax impact — — — Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.2) (0.2) Net current period other comprehensive loss, net of income taxes (17.8) (0.2) (18.0) Balance, June 28, 2024 $ (307.7) $ 6.1 $ (301.6) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended June 30, 2023 Balance, March 31, 2023 $ (225.7) $ 15.1 $ (210.6) Other comprehensive loss before reclassifications: Decrease (26.7) — (26.7) Income tax impact 0.8 — 0.8 Other comprehensive loss before reclassifications, net of income taxes (25.9) — (25.9) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.5) (0.5) Income tax impact — 0.1 0.1 Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.4) (0.4) Net current period other comprehensive loss, net of income taxes (25.9) (0.4) (26.3) Balance, June 30, 2023 $ (251.6) $ 14.7 $ (236.9) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Six Months Ended June 28, 2024 Balance, December 31, 2023 $ (223.7) $ 6.5 $ (217.2) Other comprehensive loss before reclassifications: Decrease (80.2) — (80.2) Income tax impact (3.8) — (3.8) Other comprehensive loss before reclassifications, net of income taxes (84.0) — (84.0) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.4) (0.4) Income tax impact — — — Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.4) (0.4) Net current period other comprehensive loss, net of income taxes (84.0) (0.4) (84.4) Balance, June 28, 2024 $ (307.7) $ 6.1 $ (301.6) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Six Months Ended June 30, 2023 Balance, December 31, 2022 $ (240.5) $ 15.4 $ (225.1) Other comprehensive loss before reclassifications: Decrease (12.6) — (12.6) Income tax impact 1.5 — 1.5 Other comprehensive loss before reclassifications, net of income taxes (11.1) — (11.1) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.9) (0.9) Income tax impact — 0.2 0.2 Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.7) (0.7) Net current period other comprehensive loss, net of income taxes (11.1) (0.7) (11.8) Balance, June 30, 2023 $ (251.6) $ 14.7 $ (236.9)

Revenue

Revenue	6 Months Ended
Revenue	Jun. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The following table presents the Company’s revenues disaggregated by geographical region for the three and six months ended June 28, 2024 and June 30, 2023 ($ in millions). Sales taxes and other usage-based taxes collected from customers are excluded from revenues. The Company has historically defined emerging markets as developing markets of the world experiencing extended periods of accelerated growth in gross domestic product and infrastructure, including Eastern Europe, the Middle East, Africa, Latin America and Asia (with the exception of Japan and Australia). The Company defines developed markets as all markets of the world that are not emerging markets. Three Months Ended June 28, 2024 Three Months Ended June 30, 2023 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 174.6 $ 150.5 $ 325.1 $ 178.3 $ 162.1 $ 340.4 Western Europe 112.4 25.1 137.5 114.6 30.3 144.9 Other developed markets 21.0 7.7 28.7 22.2 10.1 32.3 Emerging markets 107.1 34.7 141.8 101.9 42.9 144.8 Total $ 415.1 $ 218.0 $ 633.1 $ 417.0 $ 245.4 $ 662.4 Six Months Ended June 28, 2024 Six Months Ended June 30, 2023 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 345.7 $ 298.1 $ 643.8 $ 363.6 $ 301.5 $ 665.1 Western Europe 234.7 51.1 285.8 231.6 62.4 294.0 Other developed markets 43.1 15.9 59.0 46.2 18.7 64.9 Emerging markets 200.3 67.8 268.1 185.6 80.0 265.6 Total $ 823.8 $ 432.9 $ 1,256.7 $ 827.0 $ 462.6 $ 1,289.6 Remaining Performance Obligations ASC 606, Revenue from Contracts with Customers, requires disclosure of remaining performance obligations that represent the aggregate transaction price allocated to performance obligations with an original contract term greater than one year which are fully or partially unsatisfied at the end of the period. Remaining performance obligations include noncancelable purchase orders, unfulfilled obligations, extended warranty and service agreements and do not include revenue from contracts with customers with an original term of one year or less. With respect to certain clear aligner treatment plans, the Company enters into contracts that involve multiple future performance obligations which include optional additional aligners at no additional charge. The Company’s treatment plans are comprised of the following performance obligations: initial aligner shipment and the shipment of any optional refinement aligners. For such plans, the Company also consider usage rates, which is the number of times a customer is expected to order additional refinement aligners. At June 28, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $97.9 million, including $68.1 million related to clear aligner treatment plans. The Company expects to fulfill the majority of these performance obligations over the next 12 months. Contract Liabilities The Company often receives cash payments from customers in advance of the Company’s performance resulting in contract liabilities. These contract liabilities are classified as either current or long-term in the Condensed Consolidated Balance Sheets based on the timing of when the Company expects to recognize revenue. As of June 28, 2024 and December 31, 2023, the contract liabilities were $132.4 million and $114.8 million, respectively, and are included within accrued expenses and other liabilities and other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets. Revenue recognized during the six months ended June 28, 2024 and June 30, 2023 that was included in the contract liability balance at December 31, 2023 and December 31, 2022 was $71.6 million and $53.2 million, respectively. Significant Customers For both the three and six months ended June 28, 2024, there were no customers that accounted for 10% or more of sales. For the three and six months ended June 30, 2023, sales to the Company’s largest customer were 12% and 11%, respectively.

Restructuring Activities and Re

Restructuring Activities and Related Impairments	6 Months Ended
Restructuring Activities and Related Impairments	Jun. 28, 2024
Restructuring and Related Activities [Abstract]
Restructuring Activities And Related Impairments	RESTRUCTURING ACTIVITIES AND RELATED IMPAIRMENTS Restructuring Activities The Company’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing the Company’s strategy, pursuant to restructuring programs. Restructuring related charges by segment were as follows ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Specialty Products & Technologies $ 4.6 $ 6.2 $ 7.9 $ 7.8 Equipment & Consumables 0.4 6.4 3.2 9.0 Other 0.8 1.0 1.6 1.1 Total $ 5.8 $ 13.6 $ 12.7 $ 17.9 Restructuring related charges were reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Cost of sales $ 3.3 $ 4.8 $ 5.0 $ 6.3 Selling, general and administrative expenses 2.5 8.8 7.7 11.6 Total $ 5.8 $ 13.6 $ 12.7 $ 17.9 At June 28, 2024 and December 31, 2023, the restructuring liability was $9.9 million and $16.0 million, respectively.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company’s effective tax rates of 1.2% and 0.2% for the three and six months ended June 28, 2024, respectively, and 24.3% and 23.0% for the three and six months ended June 30, 2023, respectively, differ from the U.S. federal statutory rate of 21.0% primarily due to impairment charges for goodwill and intangible assets not deductible for tax purposes. The Company establishes valuation allowances for its deferred tax assets if it is more likely than not that some or all of its deferred tax assets will not be realized. In assessing whether it is more likely than not that deferred tax assets will be realized, the Company considers all available evidence, both positive and negative, including its recent cumulative earnings experience and expectations of future taxable income of the appropriate character by taxing jurisdiction, tax attribute carryback and carryforward periods, reversal patterns of existing deferred tax liabilities, and prudent and feasible tax planning strategies, and there can be no assurance that the Company’s deferred tax assets will be fully realized. As of the quarter ended June 28, 2024, the Company maintains valuation allowances primarily against certain net operating losses and the portion of its U.S. nondeductible interest expense carryforward that it believes it will more likely than not be unable to realize. On January 1, 2024, certain provisions of the Organisation for Economic Co-operation and Development base Erosion and Profit Shifting 2.0 Pillar Two global minimum tax (“GMT”) became effective in various jurisdictions. Based on currently enacted law, the impact of GMT on the Company’s 2024 financial results is not expected to be material.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	6 Months Ended
(Loss) Earnings Per Share	Jun. 28, 2024
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(LOSS) EARNINGS PER SHARE Basic (loss) earnings per share is calculated by dividing the applicable (loss) income by the weighted average number of shares of common stock outstanding for the applicable period. Diluted earnings per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential shares outstanding during the period using the treasury stock method, except for the 2028 Convertible Notes and 2025 Convertible Notes, which are calculated using the if-converted method. Dilutive potential common shares include employee equity options, non-vested shares and similar instruments granted by the Company and the assumed conversion impact of convertible notes. The Company will settle any convertible note conversions through a combination settlement by satisfying the principal amount outstanding with cash and any convertible note conversion value in excess of the principal amount in cash or shares of the Company’s common stock or any combination thereof. As the Company will settle the principal amount of convertible notes in cash upon conversion, the convertible notes only have an impact on the Company's diluted earnings per share when the average share price of the Company’s common stock exceeds the conversion price, in any applicable period. See the computation of earnings per share below for the dilutive impact of the convertible notes for the three and six months ended June 28, 2024 and June 30, 2023. In connection with the offering of the 2025 Convertible Notes, the Company entered into Capped Calls, which are intended to reduce or offset the potential dilution from shares of common stock issued upon conversion. The Company completed a partial unwind of the Capped Calls in connection with the Notes Exchanges. Refer to Note 12 for further discussion of the Capped Calls. The impact of the remaining Capped Calls is not included when calculating potentially dilutive shares since their effect is anti-dilutive. The Capped Calls will mitigate dilution for the conversion of the remaining 2025 Convertible Notes up to the Company’s common stock price of $23.79. If the remaining 2025 Convertible Notes are converted at a price higher than $23.79 per share, the Capped Calls will no longer mitigate dilution from the conversion of the remaining 2025 Convertible Notes. The table below presents the computation of basic and diluted earnings per share ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net (loss) income $ (1,151.6) $ 51.9 $ (1,128.0) $ 95.7 Denominator: Weighted-average common shares outstanding used in basic earnings per share 172.1 164.0 172.0 163.8 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units and performance stock units — 2.4 — 2.6 Assumed conversion of 2025 Convertible Notes — 9.9 — 10.5 Weighted average common shares outstanding used in diluted earnings per share 172.1 176.3 172.0 176.9 (Loss) earnings per share: (Loss) earnings - basic $ (6.69) $ 0.32 $ (6.56) $ 0.58 (Loss) earnings - diluted $ (6.69) $ 0.29 $ (6.56) $ 0.54 The following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Stock-based awards 7.7 2.1 6.0 2.0 2025 Convertible Notes 0.6 — 0.5 — 2028 Convertible Notes 15.7 — 13.5 — Total 24.0 2.1 20.0 2.0

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 28, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company operates and reports its results in two separate business segments, the Specialty Products & Technologies and Equipment & Consumables segments. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Operating profit represents total revenues less operating expenses, excluding nonoperating income (expense), interest expense and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs, including goodwill and intangible impairment charges, which are not considered in management’s evaluation of reportable segment operating performance. The identifiable assets by segment are those used in each segment’s operations. Inter-segment amounts are not significant and are eliminated to arrive at consolidated totals. The Company’s Specialty Products & Technologies products primarily include implants, regenerative products, prosthetics, orthodontic brackets, aligners and lab products. The Company’s Equipment & Consumables products primarily include traditional consumables such as bonding agents and cements, impression materials, infection prevention products and restorative products, while the Company’s equipment products primarily include digital imaging systems, software and other visualization and magnification systems. Segment related information is shown below ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales: Specialty Products & Technologies $ 415.1 $ 417.0 $ 823.8 $ 827.0 Equipment & Consumables 218.0 245.4 432.9 462.6 Total $ 633.1 $ 662.4 $ 1,256.7 $ 1,289.6 Operating (loss) profit and reconciliation to income before taxes: Specialty Products & Technologies $ 6.0 $ 55.7 $ 50.2 $ 126.8 Equipment & Consumables 26.5 48.4 62.1 80.9 Other (1,185.8) (25.2) (1,217.5) (56.7) Operating (loss) profit (1,153.3) 78.9 (1,105.2) 151.0 Nonoperating income (expense): Other (loss) income, net (1.1) 7.1 (1.0) 7.4 Interest expense, net (11.7) (17.4) (24.6) (34.1) (Loss) income before taxes $ (1,166.1) $ 68.6 $ (1,130.8) $ 124.3 Identifiable assets: June 28, 2024 December 31, 2023 Specialty Products & Technologies $ 2,435.9 $ 3,277.7 Equipment & Consumables 1,921.0 2,338.6 Other 1,081.2 988.8 Total $ 5,438.1 $ 6,605.1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended			6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net (loss) income	$ (1,151.6)	$ 23.6	$ 51.9	$ (1,128)	$ 95.7

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business And Basis Of Present_2

Business And Basis Of Presentation (Policies)	6 Months Ended
Business And Basis Of Presentation (Policies)	Jun. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation All revenues and costs as well as assets and liabilities directly associated with the business activity of the Company are included in the financial statements. All significant intercompany accounts and transactions between the businesses comprising the Company have been eliminated in the accompanying Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements included herein have been prepared by the Company without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures are adequate to make the information presented not misleading. The accompanying Condensed Consolidated Financial Statements contain all adjustments (consisting of only normal recurring adjustments and reclassifications to conform to current year presentation) necessary to present fairly the financial position of the Company as of June 28, 2024 and December 31, 2023, and its results of operations for the three and six month periods ended June 28, 2024 and June 30, 2023 and cash flows for the six month periods ended June 28, 2024 and June 30, 2023. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Consolidated Financial Statements and accompanying notes for the three years ended December 31, 2023, included in the Annual Report on Form 10-K filed by the Company with the SEC on February 15, 2024.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures ”. The update requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. Adoption of the ASU allows for either the prospective or retrospective application of the amendment and is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company has not yet completed its assessment of the impact of ASU 2023-09 on the Company’s Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting - Improving Reportable Segment Disclosures (Topic 280)” . The update is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (CODM), a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the CODM when deciding how to allocate resources. Adoption of the ASU requires retrospective application to all prior periods presented in the financial statements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for fiscal periods after December 15, 2024 for interim periods. Early adoption is permitted. The Company has not yet completed its assessment of the impact of ASU 2023-07 on the Company’s Condensed Consolidated Financial Statements.

Credit Losses (Tables)

Credit Losses (Tables)	6 Months Ended
Credit Losses (Tables)	Jun. 28, 2024
Credit Loss [Abstract]
Allowance for Credit Loss	The rollforward of the allowance for credit losses is summarized as follows ($ in millions): Balance at December 31, 2023 $ 17.3 Foreign currency translation (0.5) Provision for credit losses 13.8 Write-offs charged against the allowance (1.4) Recoveries (1.5) Balance at June 28, 2024 $ 27.7

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 28, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The classes of inventory are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Finished goods $ 207.8 $ 196.4 Work in process 24.6 17.2 Raw materials 90.7 100.3 Reserve for inventory obsolescence (59.3) (55.1) Total $ 263.8 $ 258.8

Property, Plant And Equipment (

Property, Plant And Equipment (Tables)	6 Months Ended
Property, Plant And Equipment (Tables)	Jun. 28, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The classes of property, plant and equipment are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Land and improvements $ 10.0 $ 10.0 Buildings and improvements 165.6 157.4 Machinery, equipment and other assets 420.7 417.9 Construction in progress 43.7 65.3 Gross property, plant and equipment 640.0 650.6 Less: accumulated depreciation (349.2) (341.0) Property, plant and equipment, net $ 290.8 $ 309.6

Equity Security Investments U_2

Equity Security Investments Using The Measurement Alternative Method (Tables)	6 Months Ended
	Jun. 28, 2024
Investments, Debt and Equity Securities [Abstract]
Summary of Equity Security Investments	The Company records these investments as Other long-term assets in the Condensed Consolidated Balance Sheets and are summarized as follows ($ in millions): June 28, 2024 December 31, 2023 Equity security investments $ 26.7 $ 28.6 Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Investment Losses Unrealized losses $ (1.5) $ — $ (1.5) $ — Total $ (1.5) $ — $ (1.5) $ —

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
Goodwill and Other Intangible Assets (Tables)	Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Rollforward of Goodwill	The following is a rollforward of the Company’s goodwill by segment ($ in millions): Specialty Products & Technologies Equipment & Consumables Total Gross Accumulated Impairment Charges Total Gross Accumulated Impairment Charges Total Gross Accumulated Impairment Charges Total Balance at December 31, 2023 $ 2,007.0 $ (134.5) $ 1,872.5 $ 1,497.5 $ (77.8) $ 1,419.7 $ 3,504.5 $ (212.3) $ 3,292.2 Impairment charges — (707.8) $ (707.8) — (252.7) $ (252.7) — (960.5) $ (960.5) Foreign currency translation (40.2) — (40.2) (7.8) — (7.8) (48.0) — (48.0) Balance at June 28, 2024 $ 1,966.8 $ (842.3) $ 1,124.5 $ 1,489.7 $ (330.5) $ 1,159.2 $ 3,456.5 $ (1,172.8) $ 2,283.7
Schedule of Acquired Finite-Lived Intangible Assets	The following summarizes the gross carrying value, accumulated amortization and accumulated impairment losses, for each major category of intangible asset ($ in millions): As of June 28, 2024 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 432.4 $ (281.1) $ (87.2) $ 64.1 Customer relationships and other intangibles 910.0 (718.2) (5.0) 186.8 Trademarks and trade names 224.8 (120.8) — 104.0 Total finite-lived intangibles 1,567.2 (1,120.1) (92.2) 354.9 Indefinite-lived intangibles: Trademarks and trade names 490.3 — (147.1) 343.2 Total intangibles $ 2,057.5 $ (1,120.1) $ (239.3) $ 698.1 As of December 31, 2023 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 439.5 $ (269.1) $ — $ 170.4 Customer relationships and other intangibles 928.1 (706.9) — 221.2 Trademarks and trade names 225.5 (115.8) — 109.7 Total finite-lived intangibles 1,593.1 (1,091.8) — 501.3 Indefinite-lived intangibles: Trademarks and trade names 498.7 — (46.0) 452.7 Total intangibles $ 2,091.8 $ (1,091.8) $ (46.0) $ 954.0
Schedule of Acquired Indefinite-Lived Intangible Assets	The following summarizes the gross carrying value, accumulated amortization and accumulated impairment losses, for each major category of intangible asset ($ in millions): As of June 28, 2024 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 432.4 $ (281.1) $ (87.2) $ 64.1 Customer relationships and other intangibles 910.0 (718.2) (5.0) 186.8 Trademarks and trade names 224.8 (120.8) — 104.0 Total finite-lived intangibles 1,567.2 (1,120.1) (92.2) 354.9 Indefinite-lived intangibles: Trademarks and trade names 490.3 — (147.1) 343.2 Total intangibles $ 2,057.5 $ (1,120.1) $ (239.3) $ 698.1 As of December 31, 2023 Gross Accumulated Accumulated Impairment Losses Net Carrying Amount Finite-lived intangibles: Patents and technology $ 439.5 $ (269.1) $ — $ 170.4 Customer relationships and other intangibles 928.1 (706.9) — 221.2 Trademarks and trade names 225.5 (115.8) — 109.7 Total finite-lived intangibles 1,593.1 (1,091.8) — 501.3 Indefinite-lived intangibles: Trademarks and trade names 498.7 — (46.0) 452.7 Total intangibles $ 2,091.8 $ (1,091.8) $ (46.0) $ 954.0

Accrued Expenses And Other Li_2

Accrued Expenses And Other Liabilities (Tables)	6 Months Ended
Accrued Expenses And Other Liabilities (Tables)	Jun. 28, 2024
Accrued expenses and other [Abstract]
The components of accrued expenses and other liabilities	Accrued expenses and other liabilities were as follows ($ in millions): June 28, 2024 December 31, 2023 Current Noncurrent Current Noncurrent Compensation and benefits $ 127.1 $ 24.6 $ 120.0 $ 23.1 Sales and product allowances 64.7 1.5 72.0 1.7 Contract liabilities 112.8 19.6 106.4 8.4 Taxes, income and other 76.1 41.9 39.9 44.3 Restructuring-employee severance, benefits and other 9.9 — 16.0 — Pension benefits 5.8 23.8 5.8 30.1 Loss contingencies 8.4 26.8 11.0 27.0 Other 94.0 9.3 84.6 7.8 Total $ 498.8 $ 147.5 $ 455.7 $ 142.4

Hedging Transactions And Deri_2

Hedging Transactions And Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments, gain (loss)	The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive loss (“OCI”) for the three and six months ended June 28, 2024 and June 30, 2023 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 $ 2.8 $ 227.0 $ (1.5) Foreign currency contract 150.0 1.0 150.0 (1.7) Total $ 525.0 $ 3.8 $ 377.0 $ (3.2) Six Months Ended Six Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 11.4 $ 227.0 $ (4.3) Foreign currency contract 150.0 4.3 150.0 (1.7) Total $ 525.0 $ 15.7 $ 377.0 $ (6.0)
Schedule of notional amounts of outstanding derivative positions	The following table summarizes the notional values as of June 28, 2024 and June 30, 2023 and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive loss (“OCI”) for the three and six months ended June 28, 2024 and June 30, 2023 ($ in millions): Three Months Ended Three Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 $ 2.8 $ 227.0 $ (1.5) Foreign currency contract 150.0 1.0 150.0 (1.7) Total $ 525.0 $ 3.8 $ 377.0 $ (3.2) Six Months Ended Six Months Ended Notional Amount Gain Recognized in OCI Notional Amount Loss Recognized in OCI Foreign currency denominated debt $ 375.0 11.4 $ 227.0 $ (4.3) Foreign currency contract 150.0 4.3 150.0 (1.7) Total $ 525.0 $ 15.7 $ 377.0 $ (6.0)
Schedule of derivative instruments in statement of financial position, fair value	The Company’s derivative instrument, as well as its non-derivative debt instrument designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions): June 28, 2024 December 31, 2023 Derivative assets: Prepaid expenses and other current assets $ 1.0 $ — Derivative liabilities: Other long-term liabilities $ — $ 3.3 Nonderivative hedging instruments: Long-term debt $ 375.0 $ 386.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 28, 2024
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities at carrying and fair value	A summary of financial assets and liabilities that are measured at fair value on a recurring basis were as follows ($ in millions): Quoted Prices in Significant Other Significant Total June 28, 2024: Assets: Cross-currency swap derivative contracts $ — $ 1.0 $ — $ 1.0 Liabilities: Deferred compensation plans $ — $ 23.4 $ — $ 23.4 Contingent consideration $ — $ — $ 2.8 $ 2.8 December 31, 2023: Liabilities: Cross-currency swap derivative contract $ — $ 3.3 $ — $ 3.3 Deferred compensation plans $ — $ 21.4 $ — $ 21.4 Contingent consideration $ — $ — $ 3.8 $ 3.8 The carrying amounts and fair values of the Company’s financial instruments were as follows ($ in millions): June 28, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cross-currency swap derivative contracts $ 1.0 $ 1.0 $ — $ — Liabilities: Contingent consideration $ 2.8 $ 2.8 $ 3.8 $ 3.8 Cross-currency swap derivative contract $ — $ — $ 3.3 $ 3.3 Convertible senior notes due 2028 $ 488.3 $ 426.5 $ 486.9 $ 455.7 Convertible senior notes due 2025 $ 115.7 $ 118.7 $ 115.3 $ 145.1 Other debt $ 900.4 $ 900.4 $ 911.2 $ 911.2

Debt And Credit Facilities (Tab

Debt And Credit Facilities (Tables)	6 Months Ended
Debt And Credit Facilities (Tables)	Jun. 28, 2024
Debt Disclosure [Abstract]
Components of debt	The components of the Company’s debt were as follows, net of debt discount and debt issuance costs ($ in millions): June 28, 2024 December 31, 2023 Senior term loan facility due 2028 (the “2028 Term Loan”) $ 526.3 $ 525.8 Senior euro term loan facility due 2028 (the “2028 Euro Term Loan”) 374.1 385.4 Convertible senior notes due 2028 (the “2028 Convertible Notes”) 488.3 486.9 Convertible senior notes due 2025 (the “2025 Convertible Notes”) 115.7 115.3 Total debt 1,504.4 1,513.4 Less: current portion (115.7) (115.3) Long-term debt $ 1,388.7 $ 1,398.1
Components of convertible debt	The following table sets forth total interest expense recognized related to convertible notes ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Contractual interest expense: 2028 Convertible Notes $ 2.2 $ — $ 4.4 $ — 2025 Convertible Notes 0.7 3.0 1.4 6.1 Amortization of debt issuance costs: 2028 Convertible Notes 0.7 — $ 1.4 — 2025 Convertible Notes 0.1 0.8 $ 0.3 1.5 Total interest expense $ 3.7 $ 3.8 $ 7.5 $ 7.6
Components of unamortized debt discount and issuance costs	The remaining unamortized debt issuance costs for debt outstanding were as follows ($ in millions): June 28, 2024 December 31, 2023 2028 Convertible Notes $ 11.9 $ 13.3 2025 Convertible Notes 0.7 1.0 2028 Term Loan 3.7 4.2 2028 Euro Term Loan 0.9 1.0 $ 17.2 $ 19.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Jun. 28, 2024
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	The changes in accumulated other comprehensive loss by component are summarized below ($ in millions). Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended June 28, 2024 Balance, March 29, 2024 $ (289.9) $ 6.3 $ (283.6) Other comprehensive loss before reclassifications: Decrease (16.9) — (16.9) Income tax impact (0.9) — (0.9) Other comprehensive loss before reclassifications, net of income taxes (17.8) — (17.8) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.2) (0.2) Income tax impact — — — Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.2) (0.2) Net current period other comprehensive loss, net of income taxes (17.8) (0.2) (18.0) Balance, June 28, 2024 $ (307.7) $ 6.1 $ (301.6) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Three Months Ended June 30, 2023 Balance, March 31, 2023 $ (225.7) $ 15.1 $ (210.6) Other comprehensive loss before reclassifications: Decrease (26.7) — (26.7) Income tax impact 0.8 — 0.8 Other comprehensive loss before reclassifications, net of income taxes (25.9) — (25.9) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.5) (0.5) Income tax impact — 0.1 0.1 Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.4) (0.4) Net current period other comprehensive loss, net of income taxes (25.9) (0.4) (26.3) Balance, June 30, 2023 $ (251.6) $ 14.7 $ (236.9) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Six Months Ended June 28, 2024 Balance, December 31, 2023 $ (223.7) $ 6.5 $ (217.2) Other comprehensive loss before reclassifications: Decrease (80.2) — (80.2) Income tax impact (3.8) — (3.8) Other comprehensive loss before reclassifications, net of income taxes (84.0) — (84.0) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.4) (0.4) Income tax impact — — — Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.4) (0.4) Net current period other comprehensive loss, net of income taxes (84.0) (0.4) (84.4) Balance, June 28, 2024 $ (307.7) $ 6.1 $ (301.6) Foreign Currency Translation Adjustments Unrealized Pension Costs Total Accumulated Other Comprehensive Loss Six Months Ended June 30, 2023 Balance, December 31, 2022 $ (240.5) $ 15.4 $ (225.1) Other comprehensive loss before reclassifications: Decrease (12.6) — (12.6) Income tax impact 1.5 — 1.5 Other comprehensive loss before reclassifications, net of income taxes (11.1) — (11.1) Amounts reclassified from accumulated other comprehensive loss: Decrease — (0.9) (0.9) Income tax impact — 0.2 0.2 Amounts reclassified from accumulated other comprehensive loss, net of income taxes — (0.7) (0.7) Net current period other comprehensive loss, net of income taxes (11.1) (0.7) (11.8) Balance, June 30, 2023 $ (251.6) $ 14.7 $ (236.9)

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 28, 2024
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue by geographical region and type	The Company defines developed markets as all markets of the world that are not emerging markets. Three Months Ended June 28, 2024 Three Months Ended June 30, 2023 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 174.6 $ 150.5 $ 325.1 $ 178.3 $ 162.1 $ 340.4 Western Europe 112.4 25.1 137.5 114.6 30.3 144.9 Other developed markets 21.0 7.7 28.7 22.2 10.1 32.3 Emerging markets 107.1 34.7 141.8 101.9 42.9 144.8 Total $ 415.1 $ 218.0 $ 633.1 $ 417.0 $ 245.4 $ 662.4 Six Months Ended June 28, 2024 Six Months Ended June 30, 2023 Specialty Products & Technologies Equipment & Consumables Total Specialty Products & Technologies Equipment & Consumables Total Geographical region: North America $ 345.7 $ 298.1 $ 643.8 $ 363.6 $ 301.5 $ 665.1 Western Europe 234.7 51.1 285.8 231.6 62.4 294.0 Other developed markets 43.1 15.9 59.0 46.2 18.7 64.9 Emerging markets 200.3 67.8 268.1 185.6 80.0 265.6 Total $ 823.8 $ 432.9 $ 1,256.7 $ 827.0 $ 462.6 $ 1,289.6

Restructuring Activities and _2

Restructuring Activities and Related Impairments (Tables)	6 Months Ended
Restructuring Activities and Related Impairments (Tables)	Jun. 28, 2024
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserve by type of cost	Restructuring related charges by segment were as follows ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Specialty Products & Technologies $ 4.6 $ 6.2 $ 7.9 $ 7.8 Equipment & Consumables 0.4 6.4 3.2 9.0 Other 0.8 1.0 1.6 1.1 Total $ 5.8 $ 13.6 $ 12.7 $ 17.9 Restructuring related charges were reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Cost of sales $ 3.3 $ 4.8 $ 5.0 $ 6.3 Selling, general and administrative expenses 2.5 8.8 7.7 11.6 Total $ 5.8 $ 13.6 $ 12.7 $ 17.9

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	6 Months Ended
(Loss) Earnings Per Share (Tables)	Jun. 28, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The table below presents the computation of basic and diluted earnings per share ($ and shares in millions, except per share amounts): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Numerator: Net (loss) income $ (1,151.6) $ 51.9 $ (1,128.0) $ 95.7 Denominator: Weighted-average common shares outstanding used in basic earnings per share 172.1 164.0 172.0 163.8 Incremental common shares from: Assumed exercise of dilutive options and vesting of dilutive restricted stock units and performance stock units — 2.4 — 2.6 Assumed conversion of 2025 Convertible Notes — 9.9 — 10.5 Weighted average common shares outstanding used in diluted earnings per share 172.1 176.3 172.0 176.9 (Loss) earnings per share: (Loss) earnings - basic $ (6.69) $ 0.32 $ (6.56) $ 0.58 (Loss) earnings - diluted $ (6.69) $ 0.29 $ (6.56) $ 0.54
Schedule of antidilutive securities excluded from computation of earnings per share	The following table presents the number of outstanding securities not included in the computation of diluted income per share, because their effect was anti-dilutive (in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Stock-based awards 7.7 2.1 6.0 2.0 2025 Convertible Notes 0.6 — 0.5 — 2028 Convertible Notes 15.7 — 13.5 — Total 24.0 2.1 20.0 2.0

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 28, 2024
Segment Reporting [Abstract]
Segment results	Segment related information is shown below ($ in millions): Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 Sales: Specialty Products & Technologies $ 415.1 $ 417.0 $ 823.8 $ 827.0 Equipment & Consumables 218.0 245.4 432.9 462.6 Total $ 633.1 $ 662.4 $ 1,256.7 $ 1,289.6 Operating (loss) profit and reconciliation to income before taxes: Specialty Products & Technologies $ 6.0 $ 55.7 $ 50.2 $ 126.8 Equipment & Consumables 26.5 48.4 62.1 80.9 Other (1,185.8) (25.2) (1,217.5) (56.7) Operating (loss) profit (1,153.3) 78.9 (1,105.2) 151.0 Nonoperating income (expense): Other (loss) income, net (1.1) 7.1 (1.0) 7.4 Interest expense, net (11.7) (17.4) (24.6) (34.1) (Loss) income before taxes $ (1,166.1) $ 68.6 $ (1,130.8) $ 124.3 Identifiable assets: June 28, 2024 December 31, 2023 Specialty Products & Technologies $ 2,435.9 $ 3,277.7 Equipment & Consumables 1,921.0 2,338.6 Other 1,081.2 988.8 Total $ 5,438.1 $ 6,605.1

Business And Basis Of Present_3

Business And Basis Of Presentation - Narrative (Details)	6 Months Ended
Business And Basis Of Presentation - Narrative (Details)	Jun. 28, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments (in segments)	2

Credit Losses - Narrative (Deta

Credit Losses - Narrative (Details)	6 Months Ended
Credit Losses - Narrative (Details)	Jun. 28, 2024 segment
Credit Loss [Abstract]
Number of portfolio segments (in segments)	1

Credit Losses - Allowance for C

Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 17.3
Foreign currency translation	(0.5)
Provision for credit losses	13.8	$ 3.2
Write-offs charged against the allowance	(1.4)
Recoveries	(1.5)
Ending balance	$ 27.7

Inventories - Summary (Details)

Inventories - Summary (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 207.8	$ 196.4
Work in process	24.6	17.2
Raw materials	90.7	100.3
Reserve for inventory obsolescence	(59.3)	(55.1)
Total	$ 263.8	$ 258.8

Property, Plant And Equipment_2

Property, Plant And Equipment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 640		$ 640		$ 650.6
Less: accumulated depreciation	(349.2)		(349.2)		(341)
Property, plant and equipment, net	290.8		290.8		309.6
Fixed asset impairment charges	13	$ 0	13	$ 0
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	10		10		10
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	165.6		165.6		157.4
Machinery, equipment and other assets
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	420.7		420.7		417.9
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 43.7		$ 43.7		$ 65.3

Equity Security Investments U_3

Equity Security Investments Using The Measurement Alternative Method (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Equity security investments	$ 26.7		$ 26.7		$ 28.6
Investment Losses
Unrealized losses	$ (1.5)	$ 0	$ (1.5)	$ 0

Goodwill And Other Intangible_3

Goodwill And Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Goodwill [Line Items]
Impairment charges	$ 0	$ 960.5	$ 0
Fixed assets impairments and other charges		92.2
Specialty Products & Technologies
Goodwill [Line Items]
Impairment charges		707.8
Impairment of intangible assets		101.1
Equipment & Consumables
Goodwill [Line Items]
Impairment charges		$ 252.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Rollforward of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Goodwill, Gross, beginning balance		$ 3,504.5
Accumulated Impairment Charges, beginning balance		(212.3)
Goodwill, beginning balance		3,292.2
Impairment charges	$ 0	(960.5)	$ 0
Foreign currency translation		(48)
Goodwill, Gross, ending balance		3,456.5
Accumulated Impairment Charges, ending balance		(1,172.8)
Goodwill, ending balance		2,283.7
Specialty Products & Technologies
Goodwill [Roll Forward]
Goodwill, Gross, beginning balance		2,007
Accumulated Impairment Charges, beginning balance		(134.5)
Goodwill, beginning balance		1,872.5
Impairment charges		(707.8)
Foreign currency translation		(40.2)
Goodwill, Gross, ending balance		1,966.8
Accumulated Impairment Charges, ending balance		(842.3)
Goodwill, ending balance		1,124.5
Equipment & Consumables
Goodwill [Roll Forward]
Goodwill, Gross, beginning balance		1,497.5
Accumulated Impairment Charges, beginning balance		(77.8)
Goodwill, beginning balance		1,419.7
Impairment charges		(252.7)
Foreign currency translation		(7.8)
Goodwill, Gross, ending balance		1,489.7
Accumulated Impairment Charges, ending balance		(330.5)
Goodwill, ending balance		$ 1,159.2

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 1,567.2	$ 1,593.1
Finite-lived intangible assets, accumulated amortization	(1,120.1)	(1,091.8)
Finite-lived intangibles, accumulated impairment losses	(92.2)
Net carrying amount, finite-lived	354.9	501.3
Indefinite-lived intangible assets, accumulated impairment losses	(239.3)	(46)
Gross carrying amount of total intangibles	2,057.5	2,091.8
Other intangible assets, net	698.1	954
Trademarks and trade names
Goodwill [Line Items]
Indefinite-lived intangible assets, gross	490.3	498.7
Indefinite-lived intangible assets, accumulated impairment losses	(147.1)	(46)
Indefinite-lived intangible assets, net	343.2	452.7
Patents and technology
Goodwill [Line Items]
Finite-lived intangible assets, gross	432.4	439.5
Finite-lived intangible assets, accumulated amortization	(281.1)	(269.1)
Finite-lived intangibles, accumulated impairment losses	(87.2)
Net carrying amount, finite-lived	64.1	170.4
Customer relationships and other intangibles
Goodwill [Line Items]
Finite-lived intangible assets, gross	910	928.1
Finite-lived intangible assets, accumulated amortization	(718.2)	(706.9)
Finite-lived intangibles, accumulated impairment losses	(5)
Net carrying amount, finite-lived	186.8	221.2
Trademarks and trade names
Goodwill [Line Items]
Finite-lived intangible assets, gross	224.8	225.5
Finite-lived intangible assets, accumulated amortization	(120.8)	(115.8)
Finite-lived intangibles, accumulated impairment losses	0
Net carrying amount, finite-lived	$ 104	$ 109.7

Accrued Expenses And Other Li_3

Accrued Expenses And Other Liabilities - Summary (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Current
Compensation and benefits	$ 127.1	$ 120
Sales and product allowances	64.7	72
Contract liabilities	112.8	106.4
Taxes, income and other	76.1	39.9
Restructuring-employee severance, benefits and other	9.9	16
Pension benefits	5.8	5.8
Loss contingencies	8.4	11
Other	94	84.6
Total	498.8	455.7
Noncurrent
Compensation and benefits	24.6	23.1
Sales and product allowances	1.5	1.7
Contract liabilities	19.6	8.4
Taxes, income and other	41.9	44.3
Restructuring-employee severance, benefits and other	0	0
Pension benefits	23.8	30.1
Loss contingencies	26.8	27
Other	9.3	7.8
Total	$ 147.5	$ 142.4

Hedging Transactions And Deri_3

Hedging Transactions And Derivative Financial Instruments - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jan. 17, 2023	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Derivative [Line Items]
Derivative notional amount		$ 525,000,000	$ 377,000,000	$ 525,000,000	$ 377,000,000
Amounts reclassified from accumulated other comprehensive loss, net of income taxes		0	0	0	0
Amount reclassified from AOCI into income		$ 0	$ 0	$ 0	$ 0
Cross-currency swap derivative contracts
Derivative [Line Items]
Derivative, term	2 years
Derivative notional amount	$ 150,000,000

Hedging Transactions And Deri_4

Hedging Transactions And Derivative Financial Instruments - Summary of Notional Values and Pretax Impact in Fair Values of Net Investment Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	$ 525	$ 377	$ 525	$ 377
Gain (loss) recognized in OCI	3.8	(3.2)	15.7	(6)
Net investment hedging \| Foreign currency denominated debt
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	375	227	375	227
Gain (loss) recognized in OCI	2.8	(1.5)	11.4	(4.3)
Net investment hedging \| Foreign currency contract
Derivative Instruments, Gain (Loss) [Line Items]
Notional Amount	150	150	150	150
Gain (loss) recognized in OCI	$ 1	$ (1.7)	$ 4.3	$ (1.7)

Hedging Transactions And Deri_5

Hedging Transactions And Derivative Financial Instruments - Derivative and Nonderivative Debt Instruments (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Derivative assets:
Cross-currency swap derivative contracts	$ 1	$ 0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative liabilities:
Cross-currency swap derivative contract	$ 0	$ 3.3
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Nonderivative hedging instruments:
Long-term debt	$ 375	$ 386.4

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Carried at Fair Value (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Assets:
Cross-currency swap derivative contracts	$ 1	$ 0
Liabilities:
Cross-currency swap derivative contract	0	3.3
Deferred compensation plans	23.4	21.4
Contingent consideration	2.8	3.8
Quoted Prices in Active Market (Level 1)
Liabilities:
Deferred compensation plans	0	0
Contingent consideration	0	0
Significant Other Observable Inputs (Level 2)
Liabilities:
Deferred compensation plans	23.4	21.4
Contingent consideration	0	0
Significant Unobservable Inputs (Level 3)
Liabilities:
Deferred compensation plans	0	0
Contingent consideration	2.8	3.8
Cross-currency swap derivative contracts
Assets:
Cross-currency swap derivative contracts	1
Liabilities:
Cross-currency swap derivative contract		3.3
Cross-currency swap derivative contracts \| Quoted Prices in Active Market (Level 1)
Assets:
Cross-currency swap derivative contracts	0
Liabilities:
Cross-currency swap derivative contract		0
Cross-currency swap derivative contracts \| Significant Other Observable Inputs (Level 2)
Assets:
Cross-currency swap derivative contracts	1
Liabilities:
Cross-currency swap derivative contract		3.3
Cross-currency swap derivative contracts \| Significant Unobservable Inputs (Level 3)
Assets:
Cross-currency swap derivative contracts	$ 0
Liabilities:
Cross-currency swap derivative contract		$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cross-currency swap derivative contracts	$ 1	$ 0
Contingent consideration	2.8	3.8
Cross-currency swap derivative contract	0	3.3
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	2.8	3.8
Other debt	900.4	911.2
Carrying Amount \| Convertible senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	488.3	486.9
Carrying Amount \| Convertible senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	115.7	115.3
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	2.8	3.8
Other debt	900.4	911.2
Fair Value \| Convertible senior notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	426.5	455.7
Fair Value \| Convertible senior notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible senior notes	118.7	145.1
Cross-currency swap derivative contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cross-currency swap derivative contracts	1
Cross-currency swap derivative contract		3.3
Cross-currency swap derivative contracts \| Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cross-currency swap derivative contracts	1	0
Cross-currency swap derivative contract	0	3.3
Cross-currency swap derivative contracts \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cross-currency swap derivative contracts	1	0
Cross-currency swap derivative contract	$ 0	$ 3.3

Warranty - Narrative (Details)

Warranty - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
Warranty - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Product warranty period	90 days
Warrant liability	$ 8.1	$ 9

Litigation And Contingencies -

Litigation And Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrual for legal matters	$ 35.2	$ 38

Debt And Credit Facilities - Co

Debt And Credit Facilities - Components Of Debt (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 1,504.4	$ 1,513.4
Less: current portion	(115.7)	(115.3)
Long-term debt	1,388.7	1,398.1
Senior term loan facility due 2028 (the “2028 Term Loan”)
Debt Instrument [Line Items]
Total debt	526.3	525.8
Senior euro term loan facility due 2028 (the “2028 Euro Term Loan”)
Debt Instrument [Line Items]
Total debt	374.1	385.4
Convertible Debt \| Convertible senior notes due 2028
Debt Instrument [Line Items]
Total debt	488.3	486.9
Convertible Debt \| Convertible senior notes due 2025
Debt Instrument [Line Items]
Total debt	$ 115.7	$ 115.3

Debt And Credit Facilities - Cr

Debt And Credit Facilities - Credit Facilities (Details)	6 Months Ended	12 Months Ended
Debt And Credit Facilities - Credit Facilities (Details)	Jun. 28, 2024 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2023 EUR (€)	Jun. 15, 2021 USD ($)	Jun. 15, 2021 EUR (€)
Debt Instrument [Line Items]
Leverage ratio	4
Contingency provision on the ratio of indebtedness to net capital	4.50
Contingency provision, purchase price in excess of $100 million	$ 100,000,000
Interest coverage ratio (at least)	3
Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Margin spread of variable interest rate	0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity			$ 750,000,000		$ 750,000,000
Percentage of consolidated EBITDA			1	1
Increase limit of revolving credit facility			$ 525,000,000
Line of credit facility, outstanding borrowings	$ 0	$ 0
Number of days prior to convertible note maturity			91 days	91 days
Maturity, minimum amount outstanding			$ 250,000,000
Debt issuance costs			5,200,000
Senior term loan facility due 2028 (the “2028 Term Loan”)
Debt Instrument [Line Items]
Term loan			530,000,000
Loan facility interest rates	6.68%	6.70%
Senior euro term loan facility due 2028 (the “2028 Euro Term Loan”)
Debt Instrument [Line Items]
Term loan \| €				€ 350,000,000
Loan facility interest rates		5%
Standby letters of credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity			$ 30,000,000		20,000,000
Term SOFR Loans \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Credit spread adjustment	0.0010
Term SOFR Loans \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Margin spread of variable interest rate	0.91%
Term SOFR Loans \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Margin spread of variable interest rate	1.625%
Base Rate Loans \| Maximum
Debt Instrument [Line Items]
Effective interest rate	1%
Base Rate Loans \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Margin spread of variable interest rate	1%
Base Rate Loans \| Base Rate \| Minimum
Debt Instrument [Line Items]
Margin spread of variable interest rate	0%
Base Rate Loans \| Base Rate \| Maximum
Debt Instrument [Line Items]
Margin spread of variable interest rate	0.625%
Credit facility \| Minimum
Debt Instrument [Line Items]
Facility fee	0.09%
Credit facility \| Maximum
Debt Instrument [Line Items]
Facility fee	0.225%
Euro Term Loan Due 2024
Debt Instrument [Line Items]
Term loan \| €						€ 208,000,000
Loan facility interest rates	4.80%
US Term Loan Due 2024
Debt Instrument [Line Items]
Term loan					$ 650,000,000

Debt And Credit Facilities - _2

Debt And Credit Facilities - Convertible Notes (Details) $ / shares in Units, shares in Millions, $ in Millions	Aug. 10, 2023 USD ($) tradingDay $ / shares shares	May 21, 2020 USD ($) tradingDay $ / shares	Jun. 28, 2024	Jun. 30, 2023
Convertible Debt
Debt Instrument [Line Items]
Converted debt, shares issued (in shares) \| shares	8.4
Convertible senior notes due 2028
Debt Instrument [Line Items]
Conversion ratio	0.0215942
Conversion price (in USD per share) \| $ / shares	$ 46.31
Convertible senior notes due 2028 \| Convertible Debt
Debt Instrument [Line Items]
Term loan	$ 65.2
Proceeds from issuance of convertible notes due 2028	$ 485.9
Interest rate	1.75%
Redemption price	100%
Threshold percentage of stock price trigger	130%
Convertible debt, trading days (in trading days) \| tradingDay	20
Convertible debt, consecutive trading days (in trading days) \| tradingDay	30
Effective interest rate			2.40%
1.750% Convertible Senior Notes Over Allotment Option \| Convertible Debt
Debt Instrument [Line Items]
Term loan	$ 500.2
2.375% convertible senior notes over allotment option \| Convertible Debt
Debt Instrument [Line Items]
Term loan		$ 67.5
Convertible senior notes due 2025
Debt Instrument [Line Items]
Conversion ratio		0.0475862
Conversion price (in USD per share) \| $ / shares		$ 21.01
Convertible senior notes due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Term loan		$ 517.5
Proceeds from issuance of convertible notes due 2028		$ 502.6
Debt conversion, principal amount	401.2
Converted amount, cash	$ 403
Interest rate		2.375%
Redemption price		100%
Threshold percentage of stock price trigger		130%
Convertible debt, trading days (in trading days) \| tradingDay		20
Convertible debt, consecutive trading days (in trading days) \| tradingDay		30
Effective interest rate				3%

Debt And Credit Facilities - In

Debt And Credit Facilities - Interest Expense (Details) - Convertible Debt - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Total interest expense	$ 3.7	$ 3.8	$ 7.5	$ 7.6
Convertible senior notes due 2028
Debt Instrument [Line Items]
Contractual interest expense:	2.2	0	4.4	0
Amortization of debt issuance costs:	0.7	0	1.4	0
Convertible senior notes due 2025
Debt Instrument [Line Items]
Contractual interest expense:	0.7	3	1.4	6.1
Amortization of debt issuance costs:	$ 0.1	$ 0.8	$ 0.3	$ 1.5

Debt And Credit Facilities - If

Debt And Credit Facilities - If-Converted Value of Notes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Convertible senior notes due 2025
Debt Instrument [Line Items]
If-converted value in excess of principal	$ 16.9

Debt And Credit Facilities - Un

Debt And Credit Facilities - Unamortized Debt Issuance Costs (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt issuance costs	$ 17.2	$ 19.5
Convertible senior notes due 2028 \| Convertible Debt
Debt Instrument [Line Items]
Debt issuance costs	11.9	13.3
Convertible senior notes due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Debt issuance costs	0.7	1
2028 Term Loan
Debt Instrument [Line Items]
Debt issuance costs	3.7	4.2
2028 Euro Term Loan
Debt Instrument [Line Items]
Debt issuance costs	$ 0.9	$ 1

Debt And Credit Facilities - Ca

Debt And Credit Facilities - Capped Call Transactions (Details) - 2.375% convertible senior notes, capped calls - Convertible Debt $ / shares in Units, $ in Millions	May 21, 2020 USD ($) $ / shares
Debt Instrument [Line Items]
Convertible debt, stock price trigger (in USD per share)	$ 21.01
Conversion price (in USD per share)	$ 23.79
Convertible debt expense, capped calls \| $	$ 20.7

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 28, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 4,140.3	$ 4,173.9			$ 4,173.9
Other comprehensive loss before reclassifications:
Decrease	(16.9)		$ (26.7)		(80.2)	$ (12.6)
Income tax impact	(0.9)		0.8		(3.8)	1.5
Other comprehensive (loss) income before reclassifications, net of income taxes	(17.8)		(25.9)		(84)	(11.1)
Amounts reclassified from accumulated other comprehensive loss:
Decrease	(0.2)		(0.5)		(0.4)	(0.9)
Income tax impact	0		0.1		0	0.2
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	(0.2)		(0.4)		(0.4)	(0.7)
Total other comprehensive loss, net of income taxes	(18)	(66.4)	(26.3)		(84.4)	(11.8)
Balance, end of period	2,976.7	4,140.3			2,976.7
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(283.6)	(217.2)	(210.6)	$ (225.1)	(217.2)	(225.1)
Amounts reclassified from accumulated other comprehensive loss:
Total other comprehensive loss, net of income taxes	(18)	(66.4)	(26.3)	14.5
Balance, end of period	(301.6)	(283.6)	(236.9)	(210.6)	(301.6)	(236.9)
Foreign Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	(289.9)	(223.7)	(225.7)	(240.5)	(223.7)	(240.5)
Other comprehensive loss before reclassifications:
Decrease	(16.9)		(26.7)		(80.2)	(12.6)
Income tax impact	(0.9)		0.8		(3.8)	1.5
Other comprehensive (loss) income before reclassifications, net of income taxes	(17.8)		(25.9)		(84)	(11.1)
Amounts reclassified from accumulated other comprehensive loss:
Decrease	0		0		0	0
Income tax impact	0		0		0	0
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	0		0		0	0
Total other comprehensive loss, net of income taxes	(17.8)		(25.9)		(84)	(11.1)
Balance, end of period	(307.7)	(289.9)	(251.6)	(225.7)	(307.7)	(251.6)
Unrealized Pension Costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	6.3	6.5	15.1	15.4	6.5	15.4
Other comprehensive loss before reclassifications:
Decrease	0		0		0	0
Income tax impact	0		0		0	0
Other comprehensive (loss) income before reclassifications, net of income taxes	0		0		0	0
Amounts reclassified from accumulated other comprehensive loss:
Decrease	(0.2)		(0.5)		(0.4)	(0.9)
Income tax impact	0		0.1		0	0.2
Amounts reclassified from accumulated other comprehensive loss, net of income taxes	(0.2)		(0.4)		(0.4)	(0.7)
Total other comprehensive loss, net of income taxes	(0.2)		(0.4)		(0.4)	(0.7)
Balance, end of period	$ 6.1	$ 6.3	$ 14.7	$ 15.1	$ 6.1	$ 14.7

Revenue - Disaggregation by Rev

Revenue - Disaggregation by Revenue Type and Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Sales	$ 633.1	$ 662.4	$ 1,256.7	$ 1,289.6
North America
Disaggregation of Revenue [Line Items]
Sales	325.1	340.4	643.8	665.1
Western Europe
Disaggregation of Revenue [Line Items]
Sales	137.5	144.9	285.8	294
Other developed markets
Disaggregation of Revenue [Line Items]
Sales	28.7	32.3	59	64.9
Emerging markets
Disaggregation of Revenue [Line Items]
Sales	141.8	144.8	268.1	265.6
Specialty Products & Technologies
Disaggregation of Revenue [Line Items]
Sales	415.1	417	823.8	827
Specialty Products & Technologies \| North America
Disaggregation of Revenue [Line Items]
Sales	174.6	178.3	345.7	363.6
Specialty Products & Technologies \| Western Europe
Disaggregation of Revenue [Line Items]
Sales	112.4	114.6	234.7	231.6
Specialty Products & Technologies \| Other developed markets
Disaggregation of Revenue [Line Items]
Sales	21	22.2	43.1	46.2
Specialty Products & Technologies \| Emerging markets
Disaggregation of Revenue [Line Items]
Sales	107.1	101.9	200.3	185.6
Equipment & Consumables
Disaggregation of Revenue [Line Items]
Sales	218	245.4	432.9	462.6
Equipment & Consumables \| North America
Disaggregation of Revenue [Line Items]
Sales	150.5	162.1	298.1	301.5
Equipment & Consumables \| Western Europe
Disaggregation of Revenue [Line Items]
Sales	25.1	30.3	51.1	62.4
Equipment & Consumables \| Other developed markets
Disaggregation of Revenue [Line Items]
Sales	7.7	10.1	15.9	18.7
Equipment & Consumables \| Emerging markets
Disaggregation of Revenue [Line Items]
Sales	$ 34.7	$ 42.9	$ 67.8	$ 80

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 97.9		$ 97.9
Contract liability	$ 132.4		132.4		$ 114.8
Revenue recognized			$ 71.6	$ 53.2
Largest customer \| Revenue Benchmark \| Customer Concentration Risk
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Concentration risk percentage	0%	12%	0%	11%

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 97.9		$ 97.9
Contract liability	$ 132.4		132.4		$ 114.8
Revenue recognized			$ 71.6	$ 53.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-06-29
Disaggregation of Revenue [Line Items]
Expected timing of satisfaction	12 months		12 months
Clear Aligner Treatment Plans
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 68.1		$ 68.1
Revenue Benchmark \| Customer Concentration Risk \| Largest customer
Disaggregation of Revenue [Line Items]
Concentration risk percentage	0%	12%	0%	11%

Restructuring Activities and _3

Restructuring Activities and Related Impairments - Schedule of restructuring reserve by type cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 5.8	$ 13.6	$ 12.7	$ 17.9
Cost of sales
Restructuring Cost and Reserve [Line Items]
Costs incurred	3.3	4.8	5	6.3
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Costs incurred	2.5	8.8	7.7	11.6
Specialty Products & Technologies
Restructuring Cost and Reserve [Line Items]
Costs incurred	4.6	6.2	7.9	7.8
Equipment & Consumables
Restructuring Cost and Reserve [Line Items]
Costs incurred	0.4	6.4	3.2	9
Other
Restructuring Cost and Reserve [Line Items]
Costs incurred	$ 0.8	$ 1	$ 1.6	$ 1.1

Restructuring Activities and _4

Restructuring Activities and Related Impairments - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2024	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring-employee severance, benefits and other	$ 9.9	$ 16

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details)	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	1.20%	24.30%	0.20%	23%

(Loss) Earnings Per Share - Nar

(Loss) Earnings Per Share - Narrative (Details)	Jun. 28, 2024 $ / shares
Convertible senior notes due 2025 \| Convertible Debt
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Dilution threshold (in USD per share)	$ 23.79

(Loss) Earnings Per Share - Com

(Loss) Earnings Per Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Numerator:
Net (loss) income	$ (1,151.6)	$ 23.6	$ 51.9	$ (1,128)	$ 95.7
Denominator:
Weighted-average common shares outstanding used in basic earnings per share (in shares)	172.1		164	172	163.8
Incremental common shares from:
Assumed exercise of dilutive options and vesting of dilutive restricted stock units and performance stock units (in shares)	0		2.4	0	2.6
Assumed conversion of 2025 Convertible Notes (in shares)	0		9.9	0	10.5
Weighted average common shares outstanding used in diluted earnings (loss) per share (in shares)	172.1		176.3	172	176.9
(Loss) earnings per share:
(Loss) earnings - basic (in USD per share)	$ (6.69)		$ 0.32	$ (6.56)	$ 0.58
(Loss) earnings - diluted (in USD per share)	$ (6.69)		$ 0.29	$ (6.56)	$ 0.54

(Loss) Earnings Per Share - Sec

(Loss) Earnings Per Share - Securities Not Included in the Computation of Diluted Loss Income per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	24	2.1	20	2
Stock-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	7.7	2.1	6	2
Convertible Notes \| Convertible senior notes due 2025 (the “2025 Convertible Notes”)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	0.6	0	0.5	0
Convertible Notes \| Convertible senior notes due 2028 (the “2028 Convertible Notes”)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted (loss) income per share (in shares)	15.7	0	13.5	0

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 28, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	2
Number of operating segments (in segments)	2

Segment Information - Segment R

Segment Information - Segment Results (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Sales	$ 633.1	$ 662.4	$ 1,256.7	$ 1,289.6
Operating profit (loss)	(1,153.3)	78.9	(1,105.2)	151
Other (expense) income, net	(1.1)	7.1	(1)	7.4
Interest expense, net	(11.7)	(17.4)	(24.6)	(34.1)
(Loss) income before income taxes	(1,166.1)	68.6	(1,130.8)	124.3
Identifiable assets	5,438.1		5,438.1		$ 6,605.1
Other
Segment Reporting Information [Line Items]
Operating profit (loss)	(1,185.8)	(25.2)	(1,217.5)	(56.7)
Identifiable assets	1,081.2		1,081.2		988.8
Specialty Products & Technologies
Segment Reporting Information [Line Items]
Sales	415.1	417	823.8	827
Specialty Products & Technologies \| Operating segments
Segment Reporting Information [Line Items]
Sales	415.1	417	823.8	827
Operating profit (loss)	6	55.7	50.2	126.8
Identifiable assets	2,435.9		2,435.9		3,277.7
Equipment & Consumables
Segment Reporting Information [Line Items]
Sales	218	245.4	432.9	462.6
Equipment & Consumables \| Operating segments
Segment Reporting Information [Line Items]
Sales	218	245.4	432.9	462.6
Operating profit (loss)	26.5	$ 48.4	62.1	$ 80.9
Identifiable assets	$ 1,921		$ 1,921		$ 2,338.6