v3.25.2
Fair Value Measures and Disclosures (Tables)
6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 7 to our condensed consolidated financial statements for a discussion of our debt. In instances where the inputs used to measure the fair value of an asset fall into more than one level of the hierarchy, we have classified it based on the lowest level input that is significant to the determination of the fair value.
Fair Value Measurements at Reporting Date Using
(In millions)Level 1Level 2Level 3Total
Assets:June 28, 2025December 31, 2024June 28, 2025December 31, 2024June 28, 2025December 31, 2024June 28, 2025December 31, 2024
Cash and cash equivalents$376.8 $329.2 $— $— $— $— $376.8 $329.2 
Derivative financial instruments - interest rate swap - cash flow hedge— — 2.6 7.1 — — 2.6 7.1 
Total$376.8 $329.2 $2.6 $7.1 $— $— $379.4 $336.3 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The estimated fair value and carrying value of our debt as of June 28, 2025 and December 31, 2024 were as follows:
June 28, 2025December 31, 2024
(In millions)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$3,987.8 $3,991.8 $3,981.1 $3,909.3