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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 29, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value of the hedging instruments, presented on a gross basis, as of March 29, 2025 and December 28, 2024.

												Condensed Consolidated Balance Sheets
(in millions)						Balance sheet classification						March 29, 2025						December 28, 2024
Interest rate contracts, inclusive of accrued interest						Other non-current assets						$	4.3					$	6.8
Interest rate contracts, inclusive of accrued interest						Other non-current liabilities						(1.3)						(0.1)
Total												$	3.0					$	6.7

Schedule of Reclassification out of Accumulated Other Comprehensive (Loss) Income

The following table summarizes the gains reclassified from accumulated other comprehensive (loss) income to the condensed consolidated financial statements for the three months ended March 29, 2025 and March 30, 2024, respectively.

Cash flow hedges												Condensed Consolidated Statement of Operations
												Three Months Ended
(in millions)						Location of gains						March 29, 2025						March 30, 2024
Interest rate contracts						Non-operating gains						$	1.6					$	4.3
Total												$	1.6					$	4.3

Schedule of Accumulated Other Comprehensive (Loss) Income

The following tables summarize the changes in accumulated other comprehensive (loss) income related to the hedging instruments for the three months ended March 29, 2025 and March 30, 2024, respectively.

						Three Months Ended
(in millions)						March 29, 2025						March 30, 2024
Beginning balance						$	6.0					$	7.8
Amount recognized in other comprehensive (loss) income						(1.9)						10.8
Amount reclassified into earnings						(1.6)						(4.3)
Ending balance						$	2.5					$	14.3

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: 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

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