v3.22.2.2
Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 25, 2022
Fair Value Disclosures [Abstract]  
Fair Value Hierarchy
At September 25, 2022, September 26, 2021 and December 26, 2021, the Company had the following assets and liabilities measured at fair value in its consolidated balance sheets (excluding assets for which the fair value is measured using net asset value per share):
Fair Value Measurements Using:
Fair
Value
Quoted
Prices in
Active
Markets
for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
September 25, 2022
Assets:
Available-for-sale securities$— — — — 
Derivatives38.8 — 38.8 — 
Total assets$38.8 — 38.8 — 
Liabilities:
Derivatives$0.4 — 0.4 — 
Option agreement1.7 — — 1.7 
Total liabilities$2.1 — 0.4 1.7 
September 26, 2021
Assets:
Available-for-sale securities$2.0 2.0 — — 
Derivatives9.8 — 9.8 — 
Total assets$11.8 2.0 9.8 — 
Liabilities:
Derivatives$1.7 — 1.7 — 
Option agreement21.8 — — 21.8 
Total liabilities$23.5 — 1.7 21.8 
December 26, 2021
Assets:
Available-for-sale securities$1.9 1.9 — — 
Derivatives10.9 — 10.9 — 
Total assets$12.8 1.9 10.9 — 
Liabilities:
Derivatives$2.6 — 2.6 — 
Option agreement1.7 — — 1.7 
Total Liabilities$4.3 — 2.6 1.7 
Reconciliation of Level 3 Fair Value
The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company's financial instruments which use significant unobservable inputs (Level 3):
20222021
Balance at beginning of year$(1.7)$(20.6)
Gain from change in fair value— (1.2)
Balance at end of third quarter$(1.7)$(21.8)