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v3.22.2.2

Financial Instruments (Tables) | 9 Months Ended
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Sep. 25, 2022
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of September 25, 2022, September 26, 2021 and December 26, 2021 are as follows:
| September 25, 2022 |  | September 26, 2021 |  | December 26, 2021
| Carrying Cost |  | Fair Value |  | Carrying Cost |  | Fair Value |  | Carrying Cost |  | Fair Value
3.90% Notes Due 2029 | $ | 900.0 |  |  | 804.6 |  |  | $ | 900.0 |  |  | 1,001.7 |  |  | $ | 900.0 |  |  | 991.7 |
3.55% Notes Due 2026 | 675.0 |  |  | 633.4 |  |  | 675.0 |  |  | 737.2 |  |  | 675.0 |  |  | 725.6 |
3.00% Notes Due 2024 | 500.0 |  |  | 481.1 |  |  | 500.0 |  |  | 529.1 |  |  | 500.0 |  |  | 521.2 |
6.35% Notes Due 2040 | 500.0 |  |  | 497.8 |  |  | 500.0 |  |  | 702.3 |  |  | 500.0 |  |  | 692.8 |
3.50% Notes Due 2027 | 500.0 |  |  | 461.5 |  |  | 500.0 |  |  | 546.2 |  |  | 500.0 |  |  | 539.2 |
5.10% Notes Due 2044 | 300.0 |  |  | 258.3 |  |  | 300.0 |  |  | 375.0 |  |  | 300.0 |  |  | 374.5 |
6.60% Debentures Due 2028 | 109.9 |  |  | 114.1 |  |  | 109.9 |  |  | 137.2 |  |  | 109.9 |  |  | 136.7 |
Variable % Notes Due December 30, 2024 (1) | 325.0 |  |  | 325.0 |  |  | 505.0 |  |  | 505.0 |  |  | 397.5 |  |  | 397.5 |
Production Financing Facilities | 62.6 |  |  | 62.6 |  |  | 204.7 |  |  | 204.7 |  |  | 170.1 |  |  | 170.1 |
Total long-term debt | $ | 3,872.5 |  |  | 3,638.4 |  |  | $ | 4,194.6 |  |  | 4,738.4 |  |  | $ | 4,052.5 |  |  | 4,549.3 |
Less: Deferred debt expenses | 24.8 |  |  | — |  |  | 29.6 |  |  | — |  |  | 28.2 |  |  | — |
Less: Current portion | 122.6 |  |  | — |  |  | 187.6 |  |  | — |  |  | 200.1 |  |  | — |
Long-term debt | $ | 3,725.1 |  |  | 3,638.4 |  |  | $ | 3,977.4 |  |  | 4,738.4 |  |  | $ | 3,824.2 |  |  | 4,549.3 |
(1) During the first quarter of 2022, the Company repaid $50.0 million of the Variable % Notes due December 30, 2024.
Production Financing Loans | The production financing facilities as of September 25, 2022, September 26, 2021 and December 26, 2021 are as follows:
| September 25, 2022 |  | September 26, 2021 |  | December 26, 2021
Production financing (net of cash) |  |  |  |  |
Production financing facilities | $ | 184.9 |  |  | $ | 204.7 |  |  | $ | 170.1 |
Production financing included in the consolidated balance sheet as: |  |  |  |  |
Non-current | $ | — |  |  | $ | 47.0 |  |  | $ | — |
Current | 184.9 |  |  | 157.7 |  |  | 170.1 |
Total | $ | 184.9 |  |  | $ | 204.7 |  |  | $ | 170.1 |
Carrying Amount of Currencies for Production Financing Loans | The carrying amounts are denominated in the following currencies:
| Canadian Dollars |  | U.S. Dollars |  | Total
As of September 25, 2022 | $ | 19.3 |  |  | $ | 43.3 |  |  | $ | 62.6 |
Schedule of Production Financing Loans | The following table represents the movements in production financing loans during the first nine months of 2022:
| Production Financing |  |  |  |
December 26, 2021 | $ | 170.1 |  |  |  |  |
Drawdowns | 204.5 |  |  |  |  |
Repayments | (189.2) |  |  |  |  |
Foreign exchange differences | (0.5) |  |  |  |  |
Balance at September 25, 2022 | $ | 184.9 |  |  |  |  |

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