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Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 29, 2024
Fair Value Disclosures [Abstract] |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis | The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value.
|  | Fair Value Measurements at June 29, 2024 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 | $ | 17,916 |  | $ | — |  | $ | 17,916 |  | $ | — |
Total Assets | $ | 17,916 |  | $ | — |  | $ | 17,916 |  | $ | — |
Liabilities |  |  |  |
Derivative liabilities | $ | 27,147 |  | $ | — |  | $ | 27,147 |  | $ | — |
Contingent consideration | 20,924 |  | — |  | — |  | 20,924 |
6% Senior notes | 985,300 |  | — |  | 985,300 |  | — |
5.25% Senior notes | 488,100 |  | — |  | 488,100 |  | — |
3.625% Senior notes | 543,949 |  | — |  | 543,949 |  | — |
Term loan A-1 | 396,010 |  | — |  | 396,010 |  | — |
Term loan A-2 | 472,625 |  | — |  | 472,625 |  | — |
Term loan A-3 | 297,008 |  | — |  | 297,008 |  | — |
Term loan A-4 | 481,953 |  | — |  | 481,953 |  | — |
Revolver debt | 601,039 |  | — |  | 601,039 |  | — |
Total Liabilities | $ | 4,314,055 |  | $ | — |  | $ | 4,293,131 |  | $ | 20,924 |
|  | 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 debt | 604,766 |  | — |  | 604,766 |  | — |
Total Liabilities | $ | 4,428,868 |  | $ | — |  | $ | 4,342,373 |  | $ | 86,495 |
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 December 30, 2023 | $ | 86,495 |
Total included in earnings during period | (58,371) |
Exchange rate changes | (7,200) |
Balance as of June 29, 2024 | $ | 20,924 |

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: 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 Reference 2: 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 + Details
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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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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