v3.25.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Carrying Value and Fair Value of Debt

The carrying value and fair value of debt as of June 28, 2025 and December 28, 2024 were as follows:

 

(In millions)

 

June 28, 2025

 

 

December 28, 2024

 

 

 

Carrying
Value

 

 

Fair
Value

 

 

Carrying
Value

 

 

Fair
Value

 

Notes, net of underwriting commissions, price discounts and debt issuance costs

 

$

2,174.9

 

 

$

2,070.5

 

 

$

2,673.3

 

 

$

2,522.5

 

Commercial paper borrowings

 

 

637.4

 

 

 

637.4

 

 

 

-

 

 

 

-

 

Total debt

 

$

2,812.3

 

 

$

2,707.9

 

 

$

2,673.3

 

 

$

2,522.5

 

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of June 28, 2025 and December 28, 2024 were as follows:

 

(In millions)

 

Fair Value

 

 

 

June 28,
2025

 

 

December 28,
2024

 

Assets

 

 

 

 

 

 

Derivative financial instruments (Level 2)

 

$

1.7

 

 

$

8.6

 

Liabilities

 

 

 

 

 

 

Derivative financial instruments (Level 2)

 

$

2.8

 

 

$

2.7