| Fair Value, Assets Measured on Recurring and Nonrecurring Basis |
The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value. | | | | | | | | | | | | | | | | | | Fair Value Measurements at March 29, 2025 Using | | | Quoted Prices in
Active Markets for
Identical Assets | Significant Other
Observable
Inputs | Significant
Unobservable
Inputs | | (In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3) | | Assets | | | | | | Derivative assets | $ | 15,732 | | $ | — | | $ | 15,732 | | $ | — | | | Total Assets | $ | 15,732 | | $ | — | | $ | 15,732 | | $ | — | | | | | | | | Liabilities | | | | | | Derivative liabilities | $ | 12,373 | | $ | — | | $ | 12,373 | | $ | — | | | Contingent consideration | 36,459 | | — | | — | | 36,459 | | | Total Liabilities | $ | 48,832 | | $ | — | | $ | 12,373 | | $ | 36,459 | |
| | | | | | | | | | | | | | | | | | Fair Value Measurements at December 28, 2024 Using | | | Quoted Prices in
Active Markets for
Identical Assets | Significant Other
Observable
Inputs | Significant
Unobservable
Inputs | | (In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3) | | Assets | | | | | | Derivative assets | $ | 30,693 | | $ | — | | $ | 30,693 | | $ | — | | | Total Assets | $ | 30,693 | | $ | — | | $ | 30,693 | | $ | — | | | | | | | | Liabilities | | | | | | Derivative liabilities | $ | 41,920 | | $ | — | | $ | 41,920 | | $ | — | | | Contingent consideration | 28,862 | | — | | — | | 28,862 | | | Total Liabilities | $ | 70,782 | | $ | — | | $ | 41,920 | | $ | 28,862 | |
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| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
The changes in contingent consideration are due to the following: | | | | | | | (in thousands of dollars) | Contingent Consideration | | Balance as of December 28, 2024 | $ | 28,862 | | | Total included in earnings during period | 5,441 | | | Exchange rate changes | 2,156 | | | Balance as of March 29, 2025 | $ | 36,459 | |
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| Fair Value, by Balance Sheet Grouping |
Fair value of financial instruments that are not carried at fair value are as follows:
| | | | | | | | | | | | | | | | | | Fair Value Measurements at March 29, 2025 Using | | | Quoted Prices in
Active Markets for
Identical Assets | Significant Other
Observable
Inputs | Significant
Unobservable
Inputs | | (In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3) | | Liabilities | | | | | | 6% Senior notes | $ | 984,900 | | $ | — | | $ | 984,900 | | $ | — | | | 5.25% Senior notes | 492,500 | | — | | 492,500 | | — | | | 3.625% Senior notes | 553,199 | | — | | 553,199 | | — | | | Term loan A-1 | 394,020 | | — | | 394,020 | | — | | | Term loan A-2 | 466,406 | | — | | 466,406 | | — | | | Term loan A-3 | 295,515 | | — | | 295,515 | | — | | | Term loan A-4 | 475,734 | | — | | 475,734 | | — | | | | | | | | Revolver debt | 153,450 | | — | | 153,450 | | — | | | Total Liabilities | $ | 3,815,724 | | $ | — | | $ | 3,815,724 | | $ | — | |
| | | | | | | | | | | | | | | | | | Fair Value Measurements at December 28, 2024 Using | | | Quoted Prices in
Active Markets for
Identical Assets | Significant Other
Observable
Inputs | Significant
Unobservable
Inputs | | (In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3) | | Liabilities | | | | | | 6% Senior notes | $ | 982,500 | | $ | — | | $ | 982,500 | | $ | — | | | 5.25% Senior notes | 490,000 | | — | | 490,000 | | — | | | 3.625% Senior notes | 534,908 | | — | | 534,908 | | — | | | Term loan A-1 | 395,015 | | — | | 395,015 | | — | | | Term loan A-2 | 469,516 | | — | | 469,516 | | — | | | Term loan A-3 | 296,261 | | — | | 296,261 | | — | | | Term loan A-4 | 478,844 | | — | | 478,844 | | — | | | | | | | | Revolver debt | 264,330 | | — | | 264,330 | | — | | | Total Liabilities | $ | 3,911,374 | | $ | — | | $ | 3,911,374 | | $ | — | |
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