v3.26.3
Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 27, 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):
Third QuarterNine Months
2026202520262025
Net gain (loss) recognized in AOCI—Foreign Exchange Contracts (a)
$0.4 $(1.2)$(1.5)$3.1 
Net gain (loss) recognized in AOCI—Cross-Currency Swap Contracts (a)
$(0.4)$2.7 $12.8 $(34.8)
Net gain (loss) reclassified from AOCI into revenue/cost of sales—Foreign Exchange Contracts (a)
$(0.7)$0.6 $(0.1)$(0.2)
Net gain (loss) recognized in other income (expense), net—Foreign Exchange Contracts$2.3 $(10.1)$(24.1)$30.4 
(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
September 27, 2026December 28, 2025September 27, 2026December 28, 2025September 27, 2026December 28, 2025
Derivatives designated as hedging instruments:
Foreign currency forward contracts$33.3 $52.2 $— $0.5 $(0.9)$— 
Cross-currency swap agreements512.1 530.0 6.4 6.0 (26.0)(40.4)
Total derivatives designated as hedging instruments$545.4 $582.2 $6.4 $6.5 $(26.9)$(40.4)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts$631.4 $815.6 $1.5 $15.5 $(12.9)$(1.4)
Total derivatives$1,176.8 $1,397.8 $7.9 $22.0 $(39.8)$(41.8)