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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Cash Flow Hedging Instruments | As of December 31, 2023 and December 25, 2022, 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:
| 2023 |  | 2022
(In millions) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Hedged transaction |  |  |  |  |  |  |
Inventory purchases | $ | 129.9 |  |  | (1.7) |  |  | 166.3 |  |  | (2.7) |
Sales | 89.7 |  |  | (0.2) |  |  | 99.2 |  |  | 1.2 |
Production financing and other | 31.7 |  |  | (0.5) |  |  | 116.8 |  |  | 1.5 |
Total | $ | 251.3 |  |  | (2.4) |  |  | 382.3 |  |  | — |
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 31, 2023 and December 25, 2022 as follows:
(In millions) | 2023 |  | 2022
Prepaid expenses and other current assets |  |  |
Unrealized gains | $ | 0.5 |  |  | 4.3 |
Unrealized losses | (0.1) |  |  | (1.8) |
Net unrealized gains | $ | 0.4 |  |  | 2.5 |
Other assets |  |  |
Unrealized gains | $ | — |  |  | 0.3 |
Unrealized losses | — |  |  | — |
Net unrealized gains | $ | — |  |  | 0.3 |
Accrued liabilities |  |  |
Unrealized gains | $ | 0.7 |  |  | 1.6 |
Unrealized losses | (3.5) |  |  | (4.4) |
Net unrealized losses | $ | (2.8) |  |  | (2.8) |
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 31, 2023, December 25, 2022 and December 26, 2021 as follows:
(In millions) | 2023 |  | 2022 |  | 2021
Consolidated Statements of Operations Classification |  |  |  |  |
Cost of sales | $ | (1.1) |  |  | 17.3 |  |  | (4.7) |
Net revenues | 0.2 |  |  | 2.3 |  |  | 1.0 |
Other | (2.2) |  |  | (0.9) |  |  | 2.0 |
Net realized (losses) gains | $ | (3.1) |  |  | 18.7 |  |  | (1.7) |
Summary of Fair Values of Undesignated Derivative Financial Instruments | As of December 31, 2023 and December 25, 2022, the fair value of the Company’s undesignated derivative financial instruments are recorded in the Consolidated Balance Sheets as follows:
(In millions) | 2023 |  | 2022
Prepaid expenses and other current assets |  |  |
Unrealized gains | $ | 0.3 |  |  | 10.9 |
Unrealized losses | — |  |  | (5.9) |
Net unrealized gains | $ | 0.3 |  |  | 5.0 |
Accrued liabilities |  |  |
Unrealized gains | $ | 1.4 |  |  | — |
Unrealized losses | (2.5) |  |  | — |
Net unrealized losses | $ | (1.1) |  |  | — |
Total unrealized (losses) gains, net | $ | (0.8) |  |  | 5.0 |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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