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v3.26.1

Leases (Tables) | 6 Months Ended
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Jun. 28, 2026
Leases [Abstract] |
Schedule of Lease Costs | The components of lease expense were as follows (in millions):
|  |  |  | Three Months Ended |  | Six Months Ended
Lease Cost |  | Classification |  | June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | Cost of goods sold |  | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 0.5 |  |  | $ | 0.3 |
Amortization of right-of-use assets |  | Selling, general and administrative expenses |  | 9.1 |  |  | 8.6 |  |  | 17.9 |  |  | 16.7 |
Interest on lease liabilities |  | Interest and other non-operating expenses, net |  | 2.3 |  |  | 2.4 |  |  | 4.5 |  |  | 4.6 |
Operating lease cost |  | Cost of goods sold |  | 3.3 |  |  | 2.1 |  |  | 6.2 |  |  | 4.1 |
Operating lease cost |  | Selling, general and administrative expenses |  | 28.5 |  |  | 27.0 |  |  | 56.2 |  |  | 52.1 |
Short-term lease cost |  | Cost of goods sold |  | 0.3 |  |  | 0.2 |  |  | 0.6 |  |  | 0.3 |
Short-term lease cost |  | Selling, general and administrative expenses |  | 1.2 |  |  | 0.7 |  |  | 2.4 |  |  | 2.0 |
Variable lease cost |  | Selling, general and administrative expenses |  | 0.3 |  |  | 0.3 |  |  | 0.6 |  |  | 0.8 |
Sublease income |  | Selling, general and administrative expenses |  | (0.4) |  |  | (0.3) |  |  | (0.7) |  |  | (0.5) |
Total lease cost |  |  |  | $ | 44.9 |  |  | $ | 41.1 |  |  | $ | 88.2 |  |  | $ | 80.4 |
Supplemental cash flow information related to leases was as follows (in millions):
|  |  | Six Months Ended
Other Information |  |  |  |  | June 28, 2026 |  | June 29, 2025
Cash paid for amounts included in the measurements of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from finance leases |  |  |  |  | $ | 4.5 |  |  | $ | 4.6 |
Operating cash flows from operating leases |  |  |  |  | $ | 62.5 |  |  | $ | 58.2 |
Financing cash flows from finance leases |  |  |  |  | $ | 17.5 |  |  | $ | 15.8 |
Right-of-use assets obtained in exchange for new lease liabilities: |  |  |  |  |  |  |
Finance leases |  |  |  |  | $ | 20.7 |  |  | $ | 26.1 |
Operating leases |  |  |  |  | $ | 67.8 |  |  | $ | 44.1 |
The weighted-average lease terms and discount rates were as follows:
Lease Term and Discount Rate |  | June 28, 2026 |  | June 29, 2025
Weighted-average remaining lease term: |  |  |  |
Finance leases |  | 4.1 years |  | 4.5 years
Operating leases |  | 5.7 years |  | 5.9 years
Weighted-average discount rate: |  |  |  |
Finance leases |  | 6.8 | % |  | 6.7 | %
Operating leases |  | 5.6 | % |  | 5.5 | %
Schedule of Future Lease Payments for Operating Leases | The aggregate future lease payments for operating and finance leases as of June 28, 2026 were as follows (in millions):
Maturity of Lease Liabilities |  | Operating Leases |  | Finance Leases
Fiscal year: |  |  |  |
2026 (remainder) |  | $ | 54.0 |  |  | $ | 21.9 |
2027 |  | 118.5 |  |  | 41.4 |
2028 |  | 101.9 |  |  | 37.5 |
2029 |  | 83.5 |  |  | 29.4 |
2030 |  | 63.8 |  |  | 17.9 |
2031 |  | 46.4 |  |  | 7.1 |
Thereafter |  | 101.4 |  |  | 1.2 |
Total lease payments |  | 569.5 |  |  | 156.4 |
Less: interest |  | 84.4 |  |  | 19.1 |
Present value of lease liabilities |  | $ | 485.1 |  |  | $ | 137.3 |
Schedule of Future Lease Payments for Finance Leases | The aggregate future lease payments for operating and finance leases as of June 28, 2026 were as follows (in millions):
Maturity of Lease Liabilities |  | Operating Leases |  | Finance Leases
Fiscal year: |  |  |  |
2026 (remainder) |  | $ | 54.0 |  |  | $ | 21.9 |
2027 |  | 118.5 |  |  | 41.4 |
2028 |  | 101.9 |  |  | 37.5 |
2029 |  | 83.5 |  |  | 29.4 |
2030 |  | 63.8 |  |  | 17.9 |
2031 |  | 46.4 |  |  | 7.1 |
Thereafter |  | 101.4 |  |  | 1.2 |
Total lease payments |  | 569.5 |  |  | 156.4 |
Less: interest |  | 84.4 |  |  | 19.1 |
Present value of lease liabilities |  | $ | 485.1 |  |  | $ | 137.3 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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