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Income Taxes (Tables)

12 Months Ended

Dec. 28, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before (Benefit) Provision for Income Taxes

The components of income before (benefit) provision for income taxes are as follows:

(in millions)			Year Ended December 28, 2024						Year Ended December 30, 2023						Year Ended December 31,  2022
United States			$	(67.1)					$	9.1					$	77.6
Foreign			(238.2)						79.0						115.8
Total			$	(305.3)					$	88.1					$	193.4

Schedule of Current and Deferred Provision (Benefit) for Income Taxes

The following table presents the current and deferred (benefit) provision for income taxes:

(in millions)			Year Ended December 28, 2024						Year Ended December 30, 2023						Year Ended December 31,  2022
Current:
Federal			$	15.0					$	15.0					$	48.7
State			3.4						3.5						6.1
Foreign			19.4						23.7						34.4
Subtotal			$	37.8					$	42.2					$	89.2
Deferred:
Federal			$	(19.0)					$	(12.5)					$	(20.5)
State			(8.3)						(9.0)						(8.7)
Foreign			(10.9)						(14.1)						(10.1)
Subtotal			(38.2)						(35.6)						(39.3)
Total			$	(0.4)					$	6.6					$	49.9

Schedule of Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

			Year Ended December 28, 2024						Year Ended December 30, 2023						Year Ended December 31,  2022
Statutory regular federal income tax rate			21.0		%				21.0		%				21.0		%
Foreign income taxed at different rates			6.7						1.1						—
Excess stock-based compensation			1.8						(3.2)						(1.2)
State provision, net of federal benefit			1.3						(4.9)						(1.0)
Research and development tax credits			1.2						(5.1)						(1.7)
Derecognition of uncertain tax position			1.1						(2.3)						(0.8)
Transaction-related costs			—						—						0.9
Tax credit			—						(9.2)						—
Nondeductible executive compensation			(1.2)						(1.6)						2.9
U.S. tax on foreign income, net			(3.5)						10.0						4.8
Goodwill impairment			(27.4)						—						—
Other			(0.9)						1.6						0.9
Total			0.1		%				7.4		%				25.8		%

Schedule of Components of Deferred Tax Assets

The components of the deferred tax assets are as follows:

(in millions)			December 28, 2024						December 30, 2023
Deferred tax assets:
Net operating losses			$	54.8					$	53.7
Capitalized R&D			44.6						33.0
Accrued liabilities			39.3						24.6
Tax credits			36.7						33.2
Deferred revenue			27.6						28.0
Operating lease liabilities			13.8						9.7
Interest			11.8						15.6
Stock-based compensation			9.4						12.3
Inventory Reserve			1.1						—
Other			7.2						7.3
Total			246.3						217.4
Valuation allowance			(26.5)						(18.9)
Total deferred tax assets			$	219.8					$	198.5
Deferred tax liabilities:
Inventory			$	(0.8)					$	(0.8)
Interest rate hedge			(1.5)						(1.9)
Withholding taxes on undistributed foreign earnings			(3.1)						(3.1)
Property and equipment			(11.4)						(14.4)
State taxes and other			(12.4)						(10.4)
Operating lease liabilities			(17.2)						(11.8)
Intangible assets			(129.6)						(160.5)
Other			(0.3)						(0.2)
Total deferred tax liabilities			(176.3)						(203.1)
Net deferred tax assets			$	43.5					$	(4.6)

Schedule of Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:

(in millions)			Year Ended December 28, 2024						Year Ended December 30, 2023
Unrecognized tax benefits (gross), beginning of period			$	33.0					$	26.1
Increase from tax positions in current period			7.2						7.9
Increase from tax positions in prior period			1.8						1.3
Lapse of statute of limitations			(3.5)						(2.3)
Unrecognized tax benefits (gross), end of period			$	38.5					$	33.0

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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