XML 57 R45.htm IDEA: XBRL DOCUMENT v3.25.0.1

Financial Instruments (Tables)

12 Months Ended

Dec. 28, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments

The fair values of foreign exchange and commodity derivative instruments on the consolidated balance sheets as of December 28, 2024 and December 30, 2023 were:

					Fair Value
(In millions)		Location			2024					2023
Assets:
Foreign exchange contracts		Other current assets			$	3.8				$	0.8
Net investment hedges		Other current assets				2.0					—
Net investment hedges		Other assets				2.8					—
		Total assets			$	8.6				$	0.8
Liabilities:
Foreign exchange contracts		Other current liabilities			$	2.7				$	2.7
		Total liabilities			$	2.7				$	2.7

Effects of Derivative Financial Instruments on Consolidated Statements of Income

The effects of derivative financial instruments on the consolidated statements of income in 2024, 2023 and 2022 were:

(In millions)		Classification and Amount of Gain (Loss)    Recognized in Income on Fair Value and    Cash Flow Hedging Relationships
		2024
		Cost of products sold				Interest expense				Other expense, net
Total amounts per Consolidated Statements of Income		$	2,542.7			$	120.5			$	11.9
Gain (loss) on fair value hedging relationships
Foreign exchange contracts:
Hedged items			—				—				6.8
Derivative designated as hedging instruments			—				—				(10.1	)
Gain on net investment hedging relationships			—				—				1.8
Gain (loss) on cash flow hedging relationships
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			(0.4	)			—				—
Interest rate contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			—				12.6				—

(In millions)		Classification and Amount of Gain (Loss)    Recognized in Income on Fair Value and    Cash Flow Hedging Relationships
		2023
		Cost of products sold				Interest expense				Other income, net
Total amounts per Consolidated Statements of Income		$	2,714.8			$	116.5			$	19.5
Gain (loss) on fair value hedging relationships
Foreign exchange contracts:
Hedged items			—				—				2.0
Derivative designated as hedging instruments			—				—				(0.4	)
Gain (loss) on cash flow hedging relationships
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			5.2				—				—
Commodity contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			(0.2	)			—				—
Interest rate contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			—				9.0				—

(In millions)		Classification and Amount of Gain (Loss)    Recognized in Income on Fair Value and    Cash Flow Hedging Relationships
		2022
		Cost of products sold				Interest expense				Other income, net
Total amounts per Consolidated Statements of Income		$	2,790.1			$	119.2			$	12.0
Gain (loss) on fair value hedging relationships
Foreign exchange contracts:
Hedged items			—				—				(22.4	)
Derivative designated as hedging instruments			—				—				21.3
Gain (loss) on cash flow hedging relationships
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			4.8				—				—
Commodity contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			(7.3	)			—				—
Interest rate contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income			—				3.6				—

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration