v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 27, 2026
Fair Value Disclosures [Abstract]  
Carrying Value and Fair Value of Debt

The carrying value and fair value of debt as of June 27, 2026 and December 27, 2025 were as follows:

 

(In millions)

 

June 27, 2026

 

 

December 27, 2025

 

 

 

Carrying
Value

 

 

Fair
Value

 

 

Carrying
Value

 

 

Fair
Value

 

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

 

$

2,177.3

 

 

$

2,089.8

 

 

$

2,176.1

 

 

$

2,109.3

 

Commercial paper borrowings

 

 

374.2

 

 

 

374.2

 

 

 

368.8

 

 

 

368.8

 

Total debt

 

$

2,551.5

 

 

$

2,464.0

 

 

$

2,544.9

 

 

$

2,478.1

 

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of June 27, 2026 and December 27, 2025 were as follows:

 

(In millions)

 

Fair Value

 

 

 

June 27, 2026

 

 

December 27, 2025

 

Assets

 

 

 

 

 

 

Derivative financial instruments (Level 2)

 

$

3.8

 

 

$

1.2

 

Liabilities

 

 

 

 

 

 

Derivative financial instruments (Level 2)

 

$

3.2

 

 

$

4.5