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INDEBTEDNESS (Tables) | 3 Months Ended
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Mar. 29, 2025
Debt Disclosure [Abstract] |
Schedule of Debt Activity, Current and Noncurrent | The following summarizes our debt activity (both current and non-current) for the three months ended March 29, 2025:
| December 31, 2024 |  | Borrowings |  | Repayments |  | Other(5) |  | March 29, 2025
Revolving loans (1) | $ | 80.0 |  |  | $ | 393.0 |  |  | $ | (98.0) |  |  | $ | — |  |  | $ | 375.0 |
Term loans(2) | 523.4 |  |  | — |  |  | — |  |  | 0.1 |  |  | 523.5 |
Trade receivables financing arrangement(3) | 9.0 |  |  | 135.0 |  |  | (85.0) |  |  | — |  |  | 59.0 |
Other indebtedness(4) | 2.3 |  |  | 0.6 |  |  | (0.1) |  |  | — |  |  | 2.8 |
Total debt | 614.7 |  |  | $ | 528.6 |  |  | $ | (183.1) |  |  | $ | 0.1 |  |  | 960.3 |
Less: short-term debt | 10.1 |  |  |  |  |  |  |  |  | 60.7 |
Less: current maturities of long-term debt | 27.6 |  |  |  |  |  |  |  |  | 27.6 |
Total long-term debt | $ | 577.0 |  |  |  |  |  |  |  |  | $ | 872.0 |
__________________________ (1)The revolving credit facility extends through August 2027 under the terms of our senior credit agreement and is primarily used to provide liquidity for funding acquisitions, including related fees and expenses, and was utilized as the primary funding mechanism for the KTS acquisition. (2)The term loans are repayable in quarterly installments equal to 1.25% of the initial term loan balances of $545.0, in all quarters of 2025 and 2026, and the first two quarters of 2027. The remaining balances are payable in full on August 12, 2027. Balances are net of unamortized debt issuance costs of $1.1 and $1.2 at March 29, 2025 and December 31, 2024, respectively. (3)Under this arrangement, we can borrow, on a continuous basis, up to $100.0, as available. Borrowings under this arrangement are collateralized by eligible trade receivables of certain of our businesses. At March 29, 2025, we had $9.3 of available borrowing capacity under this facility after giving effect to outstanding borrowings of $59.0. (4)Primarily includes balances under a purchase card program of $1.7 and $1.1 and finance lease obligations of $1.1 and $1.2 at March 29, 2025 and December 31, 2024, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt. (5)“Other” includes the impact of amortization of debt issuance costs associated with the term loans.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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