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Derivative Financial Instruments and Hedging (Tables) | 12 Months Ended
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Dec. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data.
(In millions) |  |  |  | December 29, 2024 |  | December 31, 2023
Asset derivatives |  | Balance sheet location |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other current assets |  | $ | 0.2 |  |  | $ | 0.1 |
Natural gas contracts |  | Prepaid expenses and other current assets |  | 0.8 |  |  | — |
Interest rate swap |  | Prepaid expenses and other current assets |  | — |  |  | 0.7 |
Natural gas contracts |  | Other assets |  | 0.9 |  |  | 0.1 |
Total derivatives designated as hedging instruments |  |  |  | 1.9 |  |  | 0.9 |
Total asset derivatives |  |  |  | $ | 1.9 |  |  | $ | 0.9 |
Liability derivatives |  | Balance sheet location |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Natural gas contracts |  | Other current liabilities |  | $ | 1.7 |  |  | $ | 5.6 |
Nickel and other raw material contracts |  | Other current liabilities |  | 4.2 |  |  | 7.5 |
Natural gas contracts |  | Other long-term liabilities |  | 0.1 |  |  | 1.1 |
Total derivatives designated as hedging instruments |  |  |  | 6.0 |  |  | 14.2 |
Total liability derivatives |  |  |  | $ | 6.0 |  |  | $ | 14.2 |
Schedule of derivative instruments gain (loss) | Activity with regard to derivatives designated as cash flow hedges for the fiscal years ended December 29, 2024 and December 31, 2023 were as follows (in millions):
Derivatives in Cash Flow Hedging Relationships |  | Amount of Gain (Loss) Recognized in OCI on Derivatives |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (a)
| Fiscal Year
| 2024 |  | 2023 |  | 2024 |  | 2023
Nickel and other raw material contracts |  | $ | (3.7) |  |  | $ | (11.0) |  |  | $ | (3.7) |  |  | $ | 2.5 |
Natural gas contracts |  | (1.1) |  |  | (11.3) |  |  | (6.1) |  |  | (5.7) |
Foreign exchange contracts |  | 0.3 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Interest rate swap |  | — |  |  | 0.3 |  |  | 1.2 |  |  | 1.1 |
Total |  | $ | (4.5) |  |  | $ | (21.8) |  |  | $ | (8.4) |  |  | $ | (1.9) |
(a)The gains (losses) reclassified from accumulated OCI into income related to the derivatives, with the exception of the interest rate swap, are presented in sales and cost of sales in the same period or periods in which the hedged item affects earnings. The gains (losses) reclassified from accumulated OCI into income on the interest rate swap are presented in interest expense in the same period as the interest expense on the ABL Term Loan is recognized in earnings.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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