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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Cash Flow Hedging Instruments | At June 30, 2024, July 2, 2023 and December 31, 2023, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:
| June 30, 2024 |  | July 2, 2023 |  | December 31, 2023
Hedged transaction | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Inventory purchases | $ | 172.2 |  |  | $ | 5.3 |  |  | $ | 216.5 |  |  | $ | (5.3) |  |  | $ | 129.9 |  |  | $ | (1.7) |
Sales | 110.5 |  |  | (0.7) |  |  | 118.6 |  |  | 0.3 |  |  | 89.7 |  |  | (0.2) |
Royalties and Other | 30.5 |  |  | 0.5 |  |  | 143.5 |  |  | — |  |  | 31.7 |  |  | (0.5) |
Total | $ | 313.2 |  |  | $ | 5.1 |  |  | $ | 478.6 |  |  | $ | (5.0) |  |  | $ | 251.3 |  |  | $ | (2.4) |
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 June 30, 2024, July 2, 2023 and December 31, 2023 as follows:
| June 30, 2024 |  | July 2, 2023 |  | December 31, 2023
Prepaid expenses and other current assets |  |  |  |  |
Unrealized gains | $ | 3.4 |  |  | $ | 3.8 |  |  | $ | 0.5 |
Unrealized losses | (1.7) |  |  | (3.0) |  |  | (0.1) |
Net unrealized gains | $ | 1.7 |  |  | $ | 0.8 |  |  | $ | 0.4 |
Other assets |  |  |  |  |
Unrealized gains | $ | 1.9 |  |  | $ | 0.5 |  |  | $ | — |
Unrealized losses | (0.1) |  |  | (0.1) |  |  | — |
Net unrealized gains | $ | 1.8 |  |  | $ | 0.4 |  |  | $ | — |
Accrued liabilities |  |  |  |  |
Unrealized gains | $ | 0.2 |  |  | $ | 1.2 |  |  | $ | 0.7 |
Unrealized losses | (3.2) |  |  | (7.0) |  |  | (3.5) |
Net unrealized losses | $ | (3.0) |  |  | $ | (5.8) |  |  | $ | (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 three and six months ended June 30, 2024 and July 2, 2023 as follows:
| Three Months Ended |  | Six Months Ended
| June 30, 2024 |  | July 2, 2023 |  | June 30, 2024 |  | July 2, 2023
Statements of Operations Classification |  |  |  |  |  |  |
Cost of sales | $ | — |  |  | $ | (1.2) |  |  | $ | 0.1 |  |  | $ | 1.3 |
Net revenues | (0.5) |  |  | 0.1 |  |  | (0.6) |  |  | 0.2 |
Other | (0.2) |  |  | (0.5) |  |  | (0.3) |  |  | (0.7) |
Net realized (losses) gains | $ | (0.7) |  |  | $ | (1.6) |  |  | $ | (0.8) |  |  | $ | 0.8 |
Schedule of Fair Values of Undesignated Derivative Financial Instruments | At June 30, 2024, July 2, 2023 and December 31, 2023, the fair values of the Company's undesignated derivative financial instruments were recorded in the Consolidated Balance Sheets as follows:
| June 30, 2024 |  | July 2, 2023 |  | December 31, 2023
Prepaid expenses and other current assets |  |  |  |  |
Unrealized gains | $ | — |  |  | $ | 5.8 |  |  | $ | 0.3 |
Unrealized losses | — |  |  | (2.7) |  |  | — |
Net unrealized gains | $ | — |  |  | $ | 3.1 |  |  | $ | 0.3 |
Accrued liabilities |  |  |  |  |
Unrealized gains | $ | 0.4 |  |  | $ | — |  |  | $ | 1.4 |
Unrealized losses | (5.8) |  |  | (0.2) |  |  | (2.5) |
Net unrealized losses | $ | (5.4) |  |  | $ | (0.2) |  |  | $ | (1.1) |

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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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