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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 25, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Cash Flow Hedging Instruments | At December 25, 2022 and December 26, 2021, the notional amounts and fair values of the Company’s foreign currency forward and option contracts designated as cash flow hedging instruments were as follows:
| 2022 |  | 2021
(In millions) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Hedged transaction |  |  |  |  |  |  |
Inventory purchases | $ | 166.3 |  |  | (2.7) |  |  | 199.1 |  |  | 10.4 |
Sales | 99.2 |  |  | 1.2 |  |  | 104.5 |  |  | (1.9) |
Production financing and other | 116.8 |  |  | 1.5 |  |  | 217.0 |  |  | 2.3 |
Total | $ | 382.3 |  |  | — |  |  | 520.6 |  |  | 10.8 |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The fair values of the Company’s foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at December 25, 2022 and December 26, 2021 as follows:
(In millions) | 2022 |  | 2021
Prepaid expenses and other current assets |  |  |
Unrealized gains | $ | 4.3 |  |  | 13.8 |
Unrealized losses | (1.8) |  |  | (3.1) |
Net unrealized gains | $ | 2.5 |  |  | 10.7 |
Other assets |  |  |
Unrealized gains | $ | 0.3 |  |  | 0.2 |
Unrealized losses | — |  |  | — |
Net unrealized gains | $ | 0.3 |  |  | 0.2 |
Accrued liabilities |  |  |
Unrealized gains | $ | 1.6 |  |  | — |
Unrealized losses | (4.4) |  |  | (0.1) |
Net unrealized losses | $ | (2.8) |  |  | (0.1) |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations | Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the years ended December 25, 2022, December 26, 2021 and December 27, 2020 as follows:
(In millions) | 2022 |  | 2021 |  | 2020
Consolidated Statements of Operations Classification |  |  |  |  |
Cost of sales | $ | 17.3 |  |  | (4.7) |  |  | 21.2 |
Net revenues | 2.3 |  |  | 1.0 |  |  | 2.9 |
Other | (0.9) |  |  | 2.0 |  |  | 1.2 |
Net realized (losses) gains | $ | 18.7 |  |  | (1.7) |  |  | 25.3 |
Fair Values of Undesignated Derivative Financial Instruments | At December 25, 2022 and December 26, 2021, the fair value of the Company’s undesignated derivative financial instruments are recorded in the consolidated balance sheets as follows:
(In millions) | 2022 |  | 2021
Prepaid expenses and other current assets |  |  |
Unrealized gains | $ | 10.9 |  |  | — |
Unrealized losses | (5.9) |  |  | — |
Net unrealized gains | $ | 5.0 |  |  | — |
Accrued liabilities |  |  |
Unrealized gains | $ | — |  |  | 3.5 |
Unrealized losses | — |  |  | (6.0) |
Net unrealized losses | $ | — |  |  | (2.5) |
Total unrealized (losses) gains, net | $ | 5.0 |  |  | (2.5) |

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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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