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FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Offsetting Assets | The following table shows the fair value and balance sheet locations of other derivatives as of December 28, 2024 and December 30, 2023:
(In millions) |  | Notional Amount |  | Other Current Assets |  | Other Non-Current Assets |  | Other Current Liabilities |  | Other Non-Current Liabilities |  | Type of Hedge
December 28, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 958.9 |  |  | $ | .2 |  |  | $ | — |  |  | $ | 36.7 |  |  | $ | — |  |  | Fair value
Cross-currency swap contracts |  | 250.0 |  |  | — |  |  | 10.9 |  |  | — |  |  | — |  |  | Cash flow
Commodity contracts |  | 2.9 |  |  | .4 |  |  | — |  |  | .4 |  |  | — |  |  | Cash flow
Foreign currency forward contracts with collars |  | 958.9 |  |  | 17.8 |  |  | — |  |  | .2 |  |  | — |  |  | Net investment
Total |  |  |  | $ | 18.4 |  |  | $ | 10.9 |  |  | $ | 37.3 |  |  | $ | — |  |  |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | $ | 1,741.8 |  |  | $ | 11.9 |  |  | $ | — |  |  | $ | 4.2 |  |  | $ | — |  |  |
December 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swap contracts |  | $ | 250.0 |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | Cash flow
Commodity contracts |  | 5.8 |  |  | — |  |  | — |  |  | 1.4 |  |  | .2 |  |  | Cash flow
Total |  |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | 1.4 |  |  | $ | .2 |  |  |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | $ | 1,336.6 |  |  | $ | 6.3 |  |  | $ | — |  |  | $ | 6.0 |  |  | $ | — |  |  |
Schedule of Offsetting Liabilities | The following table shows the fair value and balance sheet locations of other derivatives as of December 28, 2024 and December 30, 2023:
(In millions) |  | Notional Amount |  | Other Current Assets |  | Other Non-Current Assets |  | Other Current Liabilities |  | Other Non-Current Liabilities |  | Type of Hedge
December 28, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 958.9 |  |  | $ | .2 |  |  | $ | — |  |  | $ | 36.7 |  |  | $ | — |  |  | Fair value
Cross-currency swap contracts |  | 250.0 |  |  | — |  |  | 10.9 |  |  | — |  |  | — |  |  | Cash flow
Commodity contracts |  | 2.9 |  |  | .4 |  |  | — |  |  | .4 |  |  | — |  |  | Cash flow
Foreign currency forward contracts with collars |  | 958.9 |  |  | 17.8 |  |  | — |  |  | .2 |  |  | — |  |  | Net investment
Total |  |  |  | $ | 18.4 |  |  | $ | 10.9 |  |  | $ | 37.3 |  |  | $ | — |  |  |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | $ | 1,741.8 |  |  | $ | 11.9 |  |  | $ | — |  |  | $ | 4.2 |  |  | $ | — |  |  |
December 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Derivatives designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swap contracts |  | $ | 250.0 |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | — |  |  | $ | — |  |  | Cash flow
Commodity contracts |  | 5.8 |  |  | — |  |  | — |  |  | 1.4 |  |  | .2 |  |  | Cash flow
Total |  |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | 1.4 |  |  | $ | .2 |  |  |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | $ | 1,336.6 |  |  | $ | 6.3 |  |  | $ | — |  |  | $ | 6.0 |  |  | $ | — |  |  |
Derivative Instruments, Gain (Loss) | The following tables show the components of the net gains (losses) recognized in income related to derivative instruments:
(In millions) |  | 2024 |  | 2023 |  | 2022
Gain (loss) on derivatives designated as fair value hedges: |  |  |  |  |  |
Foreign currency forward contracts - Marketing, general and administrative expense |  | $ | (36.4) |  |  | $ | — |  |  | $ | — |
Schedule of Components of the Net Gains (Losses) Recognized in Income Related to Derivative Instruments | The following table shows the components of the net gains (losses) recognized in income related to the derivative instruments not designated as hedges:
(In millions) |  | Statements of Income Location |  | 2024 |  | 2023 |  | 2022
Foreign currency exchange contracts |  | Cost of products sold |  | $ | 3.2 |  |  | $ | 3.4 |  |  | $ | 5.6 |
Foreign currency exchange contracts |  | Marketing, general and administrative expense |  | (15.2) |  |  | 5.5 |  |  | (4.3) |
|  |  |  | $ | (12.0) |  |  | $ | 8.9 |  |  | $ | 1.3 |

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