v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS
 3 Months Ended
Mar. 28, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS
6. FAIR VALUE OF FINANCIAL INSTRUMENTS
The Company is required to record certain assets and liabilities at fair value. The valuation methods used for determining the fair value of these financial instruments by hierarchy are as follows:
Level 1 Cash and cash equivalents consist of various bank accounts used to support our operations and investments in institutional money-market funds that are traded in active markets.
Level 2 No Level 2 financial instruments.
Level 3 No Level 3 financial instruments.

The following table presents financial instruments, other than debt, that we measure at fair value on a recurring basis. See Note 5 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:March 28, 2026December 31, 2025March 28, 2026December 31, 2025March 28, 2026December 31, 2025March 28, 2026December 31, 2025
Cash and cash equivalents$442.7 $360.4 $— $— $— $— $442.7 $360.4 
Total$442.7 $360.4 $— $— $— $— $442.7 $360.4 
Other Fair Value Disclosures
The estimated fair value and carrying value of our debt as of March 28, 2026 and December 31, 2025 were as follows:
March 28, 2026December 31, 2025
(In millions)Carrying ValueFair ValueCarrying ValueFair Value
Total debt, net$3,651.2 $3,619.1 $3,697.6 $3,738.0