XML 72 R55.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Fair Value Measurement (Tables) | 12 Months Ended
--- | ---
Dec. 28, 2024
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 28, 2024 and December 30, 2023 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 28, 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 | $ | 30,693 |  | $ | — |  | $ | 30,693 |  | $ | — |
Total Assets | 30,693 |  | — |  | 30,693 |  | — |
Liabilities |  |  |  |
Derivative liabilities | 41,920 |  | — |  | 41,920 |  | — |
Contingent consideration | 28,862 |  | — |  | — |  | 28,862 |
Total Liabilities | $ | 70,782 |  | $ | — |  | $ | 41,920 |  | $ | 28,862 |
|  | 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 |
Total Liabilities | $ | 106,492 |  | $ | — |  | $ | 19,997 |  | $ | 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 31, 2022 | $ | 169,903 |
Out of period correction | (85,144) |
Total included in earnings during period | (5,835) |
Exchange rate changes | 7,571 |
Balance as of December 30, 2023 | 86,495 |
Total included in earnings during period | (46,706) |
Exchange rate changes | (10,927) |
Balance as of December 28, 2024 | $ | 28,862 |
Fair Value, by Balance Sheet Grouping | The fair value of financial instruments that are not carried at fair value are as follows:
|  | Fair Value Measurements at December 28, 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)
Liabilities |  |  |  |
6% Senior Notes | $ | 982,500 |  | $ | — |  | $ | 982,500 |  | $ | — |
5.25% Senior Notes | 490,000 |  | — |  | 490,000 |  | — |
3.625% Senior Notes | 534,908 |  | — |  | 534,908 |  | — |
Term loan A-1 | 395,015 |  | — |  | 395,015 |  | — |
Term loan A-2 | 469,516 |  | — |  | 469,516 |  | — |
Term loan A-3 | 296,261 |  | — |  | 296,261 |  | — |
Term loan A-4 | 478,844 |  | — |  | 478,844 |  | — |
Revolver | 264,330 |  | — |  | 264,330 |  | — |
Total Liabilities | $ | 3,911,374 |  | $ | — |  | $ | 3,911,374 |  | $ | — |
|  | 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)
Liabilities |  |  |  |
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 | $ | 4,322,376 |  | $ | — |  | $ | 4,322,376 |  | $ | — |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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

X
- 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/2009/role/commonPracticeRef -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/2009/role/commonPracticeRef -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
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration