v3.26.1
Derivative Financial Instruments and Hedging (Tables)
 6 Months Ended
Jun. 28, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value
The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data.
(In millions)
Asset derivatives
Balance sheet locationJune 28,
2026		December 28,
2025
Derivatives designated as hedging instruments:
Natural gas contractsPrepaid expenses and other current assets$0.4 $1.0 
Nickel and other raw material contractsPrepaid expenses and other current assets0.2 0.6 
Foreign exchange contractsPrepaid expenses and other current assets0.2 0.1 
Natural gas contractsOther assets0.2 0.1 
Total derivatives designated as hedging instruments$1.0 $1.8 
Liability derivativesBalance sheet location
Derivatives designated as hedging instruments:
Nickel and other raw material contractsOther current liabilities$2.5 $0.1 
Natural gas contractsOther current liabilities2.3 1.3 
Natural gas contractsOther long-term liabilities0.2 0.4 
Nickel and other raw material contractsOther long-term liabilities0.2 — 
Total derivatives designated as hedging instruments$5.2 $1.8 
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance
Activity for derivatives designated as cash flow hedges for the quarters and year-to-date periods ended June 28, 2026 and June 29, 2025 was as follows: 
(In millions)Amount of Gain (Loss)
Recognized in OCI on
Derivatives		Amount of Gain (Loss)
Reclassified from
Accumulated OCI
into Income (a)
Quarter endedQuarter ended
Derivatives in Cash Flow Hedging RelationshipsJune 28, 2026June 29, 2025June 28, 2026June 29, 2025
Nickel and other raw material contracts$(1.4)$(1.4)$1.1 $(1.2)
Natural gas contracts(1.0)(1.9)(0.9)— 
Foreign exchange contracts0.1 (0.1)0.1 — 
Total$(2.3)$(3.4)$0.3 $(1.2)
(In millions)Amount of Gain (Loss)
Recognized in OCI on
Derivatives		Amount of Gain (Loss)
Reclassified from
Accumulated OCI
into Income (a)
Year-to-date period endedYear-to-date period ended
Derivatives in Cash Flow Hedging RelationshipsJune 28, 2026June 29, 2025June 28, 2026June 29, 2025
Nickel and other raw material contracts$(0.5)$(0.7)$1.5 $(2.2)
Natural gas contracts(0.4)2.4 0.7 0.1 
Foreign exchange contracts0.4 (0.2)0.3 0.1 
Total$(0.5)$1.5 $2.5 $(2.0)
(a)The gains (losses) reclassified from accumulated OCI into income related to the derivatives, with the exception of any interest rate swaps, are presented in sales and cost of sales in the same period or periods in which the hedged item affects earnings. The gains (losses) reclassified from accumulated OCI into income on the interest rate swap are presented in interest expense in the same period as the interest expense on the Term Loan is recognized in earnings.