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Financial Instruments (Tables) | 9 Months Ended
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Sep. 27, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Instruments | The fair values of derivative instruments on the consolidated balance sheets as of September 27, 2025 and December 28, 2024 were as follows:
|  |  |  | Fair Value |
(In millions) |  | Location |  | September 27, 2025 |  |  | December 28, 2024 |
Assets: |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | $ | 0.9 |  |  | $ | 3.8 |
Commodity contracts |  | Other current assets |  |  | 0.1 |  |  |  | - |
Net investment hedges |  | Other current assets |  |  | 0.7 |  |  |  | 2.0 |
Net investment hedges |  | Other assets |  |  | - |  |  |  | 2.8 |
|  | Total assets |  | $ | 1.7 |  |  | $ | 8.6 |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Other current liabilities |  | $ | 0.6 |  |  | $ | 2.7 |
Commodity contracts |  | Other current liabilities |  |  | 0.1 |  |  |  | - |
|  | Total liabilities |  | $ | 0.7 |  |  | $ | 2.7 |
Effects of Derivative Financial Instruments on Statements of Comprehensive Income | The effects of derivative financial instruments on the statements of comprehensive income for the thirty-nine weeks ended September 27, 2025 and September 28, 2024 were as follows:
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  | Thirty-Nine Weeks Ended September 27, 2025 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 1,868.5 |  |  | $ | 88.4 |  |  | $ | 5.8 |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Hedged items |  |  | - |  |  |  | - |  |  |  | 0.5 |
Derivative designated as hedging instruments |  |  | - |  |  |  | - |  |  |  | (3.0 | )
Gain on net investment hedging relationships |  |  |  |  |  |  |  |  | 2.2 |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.8 |  |  |  | - |  |  |  | - |
Commodity contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | - |  |  |  | - |
Interest rate contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | 9.4 |  |  |  | - |
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  | Thirty-Nine Weeks Ended September 28, 2024 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 1,946.4 |  |  | $ | 92.6 |  |  | $ | 5.2 |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Hedged items |  |  | - |  |  |  | - |  |  |  | 5.0 |
Derivative designated as hedging instruments |  |  | - |  |  |  | - |  |  |  | (6.1 | )
Gain on net investment hedging relationships |  |  |  |  |  |  |  |  | 1.0 |
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 |  |  |  | - |  |  |  | - |
Commodity contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | - |  |  |  | - |
Interest rate contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | 9.4 |  |  |  | - |
The effects of derivative financial instruments on the statements of comprehensive income for the thirteen weeks ended September 27, 2025 and September 28, 2024 were as follows:
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  | Thirteen Weeks Ended September 27, 2025 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other expense, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 629.8 |  |  | $ | 28.6 |  |  | $ | 2.6 |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Hedged items |  |  | - |  |  |  | - |  |  |  | (3.9 | )
Derivative designated as hedging instruments |  |  | - |  |  |  | - |  |  |  | (0.5 | )
Gain on net investment hedging relationships |  |  |  |  |  |  |  |  | 0.5 |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | 0.8 |  |  |  | - |  |  |  | - |
Commodity contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | - |  |  |  | - |
Interest rate contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | 3.1 |  |  |  | - |
(In millions) |  | Classification and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  | Thirteen Weeks Ended September 28, 2024 |
|  | Cost of products sold |  |  | Interest expense |  |  | Other income, net |
Total amounts per Consolidated Statements of Comprehensive Income |  | $ | 625.5 |  |  | $ | 30.2 |  |  | $ | 1.6 |
Gain (loss) on fair value hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Hedged items |  |  | - |  |  |  | - |  |  |  | 3.1 |
Derivative designated as hedging instruments |  |  | - |  |  |  | - |  |  |  | (3.3 | )
Gain on net investment hedging relationships |  |  |  |  |  |  |  |  | 0.7 |
Gain (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | - |  |  |  | - |
Commodity contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | - |  |  |  | - |
Interest rate contracts: |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income |  |  | - |  |  |  | 3.1 |  |  |  | - |

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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- 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://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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