v3.26.1
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 28, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges
The following is a summary of the gain (loss) included in the condensed consolidated statements of income (loss) and comprehensive income (loss) related to the derivative instruments described above (in millions):
 Second QuarterSix Months
 2026202520262025
Net gain (loss) recognized in AOCI—Foreign Exchange Contracts (a)
$(1.5)$3.5 $(1.9)$4.3 
Net gain (loss) recognized in AOCI—Cross-Currency Swap Contracts (a)
$1.1 $(32.0)$13.2 $(37.5)
Net gain (loss) reclassified from AOCI into revenue/cost of sales—Foreign Exchange Contracts (a)
$0.1 $(0.1)$0.6 $0.8 
Net gain (loss) recognized in other income and expense, net—Foreign Exchange Contracts
$(12.4)$29.1 $(26.4)$40.5 
(a) Effective portion, pre-tax
Schedule of Notional Amounts of Outstanding Foreign Currency Contracts
The following is a summary of notional amounts and fair values of the Company’s derivatives recorded in the condensed consolidated balance sheets presented by instrument type and use (in millions):
Notional Amount
Fair Value Asset
Fair Value Liability
June 28, 2026December 28, 2025June 28, 2026December 28, 2025June 28, 2026December 28, 2025
Derivatives designated as hedging instruments:
Foreign currency forward contracts$66.9 $52.2 $— $0.5 $(1.9)$— 
Cross-currency swap agreements511.6 530.0 5.8 6.0 (26.9)(40.4)
Total derivatives designated as hedging instruments$578.5 $582.2 $5.8 $6.5 $(28.8)$(40.4)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts$729.4 $815.6 $1.7 $15.5 $(17.9)$(1.4)
Total derivatives$1,307.9 $1,397.8 $7.5 $22.0 $(46.7)$(41.8)