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Supplemental Balance Sheet Information | 3 Months Ended
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Mar. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Balance Sheet Information | Supplemental Balance Sheet Information Cash Equivalents The Company had $99.7 million and $304.1 million of cash equivalents at March 30, 2025, and December 29, 2024, respectively. The Company has categorized its cash equivalents as a Level 1 financial asset, measured at fair value based on quoted prices in active markets of identical assets. Accounts Receivable, Net Accounts receivable is presented net of an allowance for doubtful accounts of $15.6 million at March 30, 2025 and $15.5 million at December 29, 2024. Inventories, Net Inventories are stated at current cost, net of reserves for excess, slow moving and obsolete inventory. Inventories are primarily valued under the first-in, first-out method or the average cost method. Inventory balances are summarized as follows (in millions):
| Balance at
| March 30, 2025 |  | December 29, 2024
Raw materials and supplies | $ | 599.4 |  |  | $ | 559.2 |
Work in process | 242.0 |  |  | 190.4 |
Finished goods | 170.4 |  |  | 164.8 |
Total inventories, net | $ | 1,011.8 |  |  | $ | 914.4 |
Product Warranty Costs Some of the Company’s products are subject to specified warranties, and the Company provides for the estimated cost of product warranties. The adequacy of the warranty reserve is assessed regularly, and the reserve is adjusted as necessary based on a review of historical warranty experience with respect to the applicable business or products, as well as the length and actual terms of the warranties. The warranty reserve is included in current accrued liabilities and other long-term liabilities on the condensed consolidated balance sheet.
| First Quarter
Warranty Reserve (in millions): | 2025 |  | 2024
Balance at beginning of year | $ | 50.2 |  |  | $ | 49.1 |
Product warranty expense | 7.4 |  |  | 3.5 |
Deductions | (3.8) |  |  | (5.1) |
Acquisition | 0.4 |  |  | — |
Balance at end of period | $ | 54.2 |  |  | $ | 47.5 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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