v3.26.1
Borrowings (Tables)
3 Months Ended
Mar. 29, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The components of borrowings were as follows:
(In millions)March 29, 2026December 28, 2025
Term Loan A$1,135.6 $1,150.0 
Term Loan B1,446.4 1,450.0 
Revolving Credit Facility130.0 80.0 
Financing lease obligation — 1.6 
Other short-term borrowings1.3 3.0 
Other long-term borrowings (1)
20.5 13.1 
Unamortized deferred financing costs(18.8)(19.6)
Unamortized original issue discount(27.0)(27.9)
Total borrowings2,688.0 2,650.2 
Less: current portion(228.2)(178.3)
Long-term borrowings$2,459.8 $2,471.9 
(1)Relates to a three-year lease arrangement in India, whereby the Company will sell its instruments placed at customer locations under a reagent rental agreement. The transaction did not qualify as a sale and is accounted for as a financing arrangement.
Schedule of Interest Expense
The following table provides the detailed amounts within Interest expense, net for the three months ended March 29, 2026 and March 30, 2025:
Three Months Ended
(In millions)March 29, 2026March 30, 2025
Term Loan A$17.2 $37.0 
Term Loan B28.1 — 
Revolving Credit Facility2.7 5.3 
Amortization of deferred financing costs1.0 0.8 
Amortization of original issue discount1.0 — 
Derivative instruments and other2.0 (2.5)
Interest income(0.9)(0.6)
Interest expense, net$51.1 $40.0