v3.26.1
Borrowings (Tables)
6 Months Ended
Jun. 28, 2026
Debt Disclosure [Abstract]  
Schedule of Debt
The components of borrowings were as follows:
(In millions)June 28, 2026December 28, 2025
Term Loan A Facilities$1,221.2 $1,150.0 
Term Loan B1,442.7 1,450.0 
Revolving Credit Facility250.0 80.0 
Financing lease obligation — 1.6 
Other short-term borrowings2.0 3.0 
Other long-term borrowings (1)
19.0 13.1 
Unamortized deferred financing costs(17.9)(19.6)
Unamortized original issue discount(25.9)(27.9)
Total borrowings2,891.1 2,650.2 
Less: current portion(355.7)(178.3)
Long-term borrowings$2,535.4 $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 and six months ended June 28, 2026 and June 29, 2025:
Three Months EndedSix Months Ended
(In millions)June 28, 2026June 29, 2025June 28, 2026June 29, 2025
Term Loan A Facilities$18.3 $36.6 $35.5 $73.6 
Term Loan B27.9 — 56.0 — 
Revolving Credit Facility4.7 6.3 7.4 11.6 
Amortization of deferred financing costs1.2 0.7 2.2 1.5 
Amortization of original issue discount1.0 — 2.0 — 
Derivative instruments and other2.1 (2.5)4.1 (5.0)
Interest income(0.5)(0.6)(1.4)(1.2)
Interest expense, net$54.7 $40.5 $105.8 $80.5