| 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 June 28, 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 | $ | 36,928 | | $ | — | | $ | 36,928 | | $ | — | | | Total Assets | $ | 36,928 | | $ | — | | $ | 36,928 | | $ | — | | | | | | | | Liabilities | | | | | | Derivative liabilities | $ | 12,003 | | $ | — | | $ | 12,003 | | $ | — | | | Contingent consideration | 51,201 | | — | | — | | 51,201 | | | Total Liabilities | $ | 63,204 | | $ | — | | $ | 12,003 | | $ | 51,201 | |
| | | | | | | | | | | | | | | | | | 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 liability 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 | 18,024 | | | Exchange rate changes | 4,315 | | | Balance as of June 28, 2025 | $ | 51,201 | |
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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 June 28, 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 | $ | 1,015,100 | | $ | — | | $ | 1,015,100 | | $ | — | | | 5.25% Senior notes | 498,750 | | — | | 498,750 | | — | | | | | | | | 4.5% Senior notes | 884,676 | | — | | 884,676 | | — | | | Term Loan A | 895,500 | | — | | 895,500 | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | Revolver debt | 644,644 | | — | | 644,644 | | — | | | Total Liabilities | $ | 3,938,670 | | $ | — | | $ | 3,938,670 | | $ | — | |
| | | | | | | | | | | | | | | | | | 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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