XML 60 R49.htm IDEA: XBRL DOCUMENT v3.24.4
Debt (Details)
SFr in Millions, CHE in Millions, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Jul. 31, 2024
USD ($)
Jul. 31, 2024
CHE
Dec. 28, 2024
USD ($)
Dec. 28, 2024
USD ($)
Dec. 30, 2023
USD ($)
Apr. 02, 2022
USD ($)
Dec. 28, 2024
CHF (SFr)
Jul. 31, 2024
CHF (SFr)
Debt [Line Items]                
Future principal payments for fiscal 2025     $ 0.0 $ 0.0        
Future principal payments for fiscal 2026     0.0 0.0        
Future principal payments for fiscal 2027     500.0 $ 500.0        
Credit agreement, description       The Credit Agreement requires the Company to comply with various covenants, including the following financial covenants: (a) a maximum Total Net Leverage Ratio (as defined in the Credit Agreement) of 5.00:1.00, which maximum Total Net Leverage Ratio shall decrease during certain subsequent test periods as set forth in the Credit Agreement (provided that, no more than once during the term of the Facilities, such maximum ratio applicable at such time may be increased by the Company by 0.50:1.00 for a period of 12 months after the consummation of a material acquisition); and (b) a minimum Interest Coverage Ratio of 2.00:1.00.        
Outstanding amounts under the term loan       $ 500.0        
Revolving credit facility, borrowing capacity     496.3 496.3        
Amount borrowed     40.0 $ 40.0 $ 18.0      
Amount paid     40.0          
Net proceeds from issuance of senior notes           $ 492.0    
Senior notes, interest rate       4.375%        
Debt guarantee bank     0.1 $ 0.1        
Purchased a building $ 8.4 CHE 7.1            
Fixed rate mortgage term 10 years             10 years
Debt fixed rate mortgage $ 4.5             SFr 4.0
Senior Notes due 2029 [Member]                
Debt [Line Items]                
Senior notes, aggregate principal amount           $ 500.0    
Principal amount percentage           4.375%    
Term Loan Facility [Member]                
Debt [Line Items]                
Credit facility maximum borrowing capacity amount     1,300.0 $ 1,300.0        
New Credit Agreement [Member]                
Debt [Line Items]                
Credit agreement, description of variable rate basis.       Amounts outstanding under the Facilities generally bear interest, at the Company’s option, at either, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 0.50% and (iii) Term SOFR (as defined in the Credit Agreement based on SOFR, the secured overnight financing rate administered by the Federal Reserve Bank of New York) plus 1.00% or (b) Term SOFR plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to 2.00% depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA (as defined in the Credit Agreement). The Facilities are subject to a SOFR floor of 0.00%. As of December 28, 2024, the Company’s margin was 1.00% for SOFR loans, the commitment fee rate was 0.175%, and the letter of credit fee rate was 1.00%.        
Revolving Credit Facility [Member]                
Debt [Line Items]                
Credit facility maximum borrowing capacity amount     500.0 $ 500.0        
Revolving credit facility utilized     3.7 3.7        
Credit Agreement [Member] | Revolver [Member]                
Debt [Line Items]                
Amortized debt issuance costs       $ 14.9        
Senior Notes [Member]                
Debt [Line Items]                
Mature date       Oct. 15, 2029        
Schaublin [Member] | Foreign Term Loan [Member]                
Debt [Line Items]                
Revolving credit facility utilized     $ 5.4 $ 5.4     SFr 5.0