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Fair Value Measurement (Tables) | 12 Months Ended
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Dec. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present the Company’s financial instruments that are measured at fair value on a recurring and nonrecurring basis as of December 30, 2023 and December 31, 2022 and are categorized using the fair value hierarchy under FASB authoritative guidance. The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value.
|  | Fair Value Measurements at December 30, 2023 Using
|  | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs
(In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3)
Assets |  |  |  |
Derivative assets | $ | 29,000 |  | $ | — |  | $ | 29,000 |  | $ | — |
Total Assets | 29,000 |  | — |  | 29,000 |  | — |
Liabilities |  |  |  |
Derivative liabilities | 19,997 |  | — |  | 19,997 |  | — |
Contingent consideration | 86,495 |  | — |  | — |  | 86,495 |
6% Senior Notes | 1,000,000 |  | — |  | 1,000,000 |  | — |
5.25% Senior Notes | 493,100 |  | — |  | 493,100 |  | — |
3.625% Senior Notes | 560,994 |  | — |  | 560,994 |  | — |
Term loan A-1 | 398,000 |  | — |  | 398,000 |  | — |
Term loan A-2 | 478,844 |  | — |  | 478,844 |  | — |
Term loan A-3 | 298,500 |  | — |  | 298,500 |  | — |
Term loan A-4 | 488,172 |  | — |  | 488,172 |  | — |
Revolver | 604,766 |  | — |  | 604,766 |  | — |
Total Liabilities | $ | 4,428,868 |  | $ | — |  | $ | 4,342,373 |  | $ | 86,495 |
|  | Fair Value Measurements at December 31, 2022 Using
|  | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs
(In thousands of dollars) | Total | (Level 1) | (Level 2) | (Level 3)
Assets |  |  |  |
Derivative assets | $ | 20,324 |  | $ | — |  | $ | 20,324 |  | $ | — |
Total Assets | 20,324 |  | — |  | 20,324 |  | — |
Liabilities |  |  |  |
Derivative liabilities | 5,406 |  | — |  | 5,406 |  | — |
Contingent consideration | 169,903 |  | — |  | — |  | 169,903 |
6% Senior Notes | 977,200 |  | — |  | 977,200 |  | — |
5.25% Senior Notes | 485,700 |  | — |  | 485,700 |  | — |
3.625% Senior Notes | 533,155 |  | — |  | 533,155 |  | — |
Term loan A-1 | 398,000 |  | — |  | 398,000 |  | — |
Term loan A-2 | 488,813 |  | — |  | 488,813 |  | — |
Term Loan B | 199,000 |  | — |  | 199,000 |  | — |
Revolver | 133,003 |  | — |  | 133,003 |  | — |
Total Liabilities | $ | 3,390,180 |  | $ | — |  | $ | 3,220,277 |  | $ | 169,903 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The changes in contingent consideration are due to the following:
(in thousands of dollars) | Contingent Consideration
Balance as of January 1, 2022 | $ | — |
Initial measurement | 168,128 |
Total included in earnings during period | 3,506 |
Exchange rate changes | (1,731) |
Balance as of December 31, 2022 | 169,903 |
Out of period correction (1) | (85,144) |
Total included in earnings during period | (5,835) |
Exchange rate changes | 7,571 |
Balance as of December 30, 2023 | $ | 86,495 |
(1) As disclosed in Note 1 (16), the immaterial out-of-period correction made during the quarter ended July 1, 2023 resulted in a reduction of goodwill recorded associated with the FASA Acquisition of approximately $85.1 million.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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