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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Components of Long-term debt for the fiscal years ended on December 31, 2023 and December 25, 2022 are as follows:
(In millions) | 2023 |  | 2022
| Carrying Cost |  | Fair Value |  | Carrying Cost |  | Fair Value
3.90% Notes Due 2029 | $ | 900.0 |  |  | 839.8 |  |  | 900.0 |  |  | 808.2 |
3.55% Notes Due 2026 | 675.0 |  |  | 641.0 |  |  | 675.0 |  |  | 635.3 |
3.00% Notes Due 2024 | 500.0 |  |  | 488.4 |  |  | 500.0 |  |  | 482.2 |
6.35% Notes Due 2040 | 500.0 |  |  | 520.1 |  |  | 500.0 |  |  | 498.4 |
3.50% Notes Due 2027 | 500.0 |  |  | 472.2 |  |  | 500.0 |  |  | 465.8 |
5.10% Notes Due 2044 | 300.0 |  |  | 271.6 |  |  | 300.0 |  |  | 261.1 |
6.60% Debentures Due 2028 | 109.9 |  |  | 116.0 |  |  | 109.9 |  |  | 112.1 |
Variable % Notes Due December 30, 2024 (1) | — |  |  | — |  |  | 310.0 |  |  | 310.0 |
Production Financing Facilities (2) | — |  |  | — |  |  | 53.2 |  |  | 53.2 |
Total long-term debt | 3,484.9 |  |  | 3,349.1 |  |  | 3,848.1 |  |  | 3,626.3 |
Less: Deferred debt expenses | 19.1 |  |  | — |  |  | 23.7 |  |  | — |
Less: Current portion | 500.0 |  |  | — |  |  | 113.2 |  |  | — |
Long-term debt | $ | 2,965.8 |  |  | 3,349.1 |  |  | 3,711.2 |  |  | 3,626.3 |
(1) During the fourth quarter of 2023, the Company paid the remaining principal balance of $250.0 million of the Variable % Notes Due December 30, 2024. (2) The Company's production financing facilities were assumed by Lionsgate effective upon the closing the sale of the eOne Film and TV business in the fourth quarter of 2023. See note 3 for additional information.
Summary of Contractual Obligation, Fiscal Year Maturity | The Company's long-term borrowings have the following future contractual maturities:
Future long-term borrowings contractual payments | (In millions)
2024 | $ | 500.0 |
2025 | — |
2026 | 675.0 |
2027 | 500.0 |
2028 | 109.9 |
2029 and thereafter | 1,700.0 |
| $ | 3,484.9 |
Schedule of Movements in Production Financing and Other Related Loans | The following table represents the movements in production financing loans during 2023:
(In millions) | Production Financing |  |  |  |
December 25, 2022 | $ | 195.6 |  |  |  |  |
Drawdowns | 117.4 |  |  |  |  |
Repayments | (206.7) |  |  |  |  |
Removed with sale of eOne film and TV (1) | (105.8) |  |  |  |  |
Foreign exchange differences | (0.5) |  |  |  |  |
Balance at December 31, 2023 | $ | — |  |  |  |  |
(1) See note 3 for additional information on the sale of the eOne Film and TV business.

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