XML 64 R50.htm IDEA: XBRL DOCUMENT v3.25.0.1
Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedging Instruments
As of December 29, 2024 and December 31, 2023, 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:
20242023
(In millions)Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Hedged transaction
Inventory purchases$131.5 $8.0 $129.9 $(1.7)
Sales86.0 (1.4)89.7 (0.2)
Other22.8 0.9 31.7 (0.5)
Total$240.3 $7.5 $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 as follows:
(In millions)20242023
Prepaid expenses and other current assets
Unrealized gains$9.1 $0.5 
Unrealized losses(1.1)(0.1)
Net unrealized gains$8.0 $0.4 
Accrued liabilities
Unrealized gains$0.5 $0.7 
Unrealized losses(1.0)(3.5)
Net unrealized losses$(0.5)$(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), net of tax, to net earnings as follows:
(In millions)202420232022
Consolidated Statements of Operations Classification
Cost of sales$2.1 $(1.1)$17.3 
Net revenues(2.0)0.2 2.3 
Other0.2 (2.2)(0.9)
Net realized gains (losses)$0.3 $(3.1)$18.7 
Schedule of Fair Values of Undesignated Derivative Financial Instruments
The fair value of the Company’s undesignated derivative financial instruments is recorded in the Consolidated Balance Sheets as follows:
(In millions)20242023
Prepaid expenses and other current assets
Unrealized gains$1.9 $0.3 
Unrealized losses(0.2)— 
Net unrealized gains$1.7 $0.3 
Accrued liabilities
Unrealized gains$— $1.4 
Unrealized losses(1.2)(2.5)
Net unrealized losses$(1.2)$(1.1)
Total unrealized gains (losses), net$0.5 $(0.8)