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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 29, 2025
Fair Value Disclosures [Abstract] |
Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:
|  |  |  | Fair Value
(in millions) |  | Fair Value Level |  | March 29, 2025 |  | December 31, 2024 |  | March 30, 2024
Cash equivalents |  | 1 |  | $ | 16.9 |  |  | $ | 12.3 |  |  | $ | 0.2 |
Short-term investments in marketable securities |  | 1 |  | 0.8 |  |  | 0.8 |  |  | 0.8 |
Restricted cash |  | 1 |  | 18.0 |  |  | 16.9 |  |  | 11.1 |
Derivative assets |  | 2 |  | 10.7 |  |  | 22.1 |  |  | 10.4 |
Derivative liabilities |  | 2 |  | 17.2 |  |  | 9.4 |  |  | 8.4 |
Deferred compensation |  | 1 |  | 0.8 |  |  | 1.0 |  |  | 1.5 |
Deferred compensation |  | 2 |  | 18.5 |  |  | 19.2 |  |  | 16.2 |
Liabilities measured at net asset value |  |  |  | 12.8 |  |  | 14.3 |  |  | 13.0 |
Fair Value of Other Financial Instruments. The carrying values of the Company's short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. As of March 29, 2025, December 31, 2024 and March 30, 2024, the fair value of the Company’s long-term debt, including current maturities, and short-term debt was approximately $2,299.3 million, $2,161.3 million and $2,659.5 million, respectively, and was determined using Level 1 and Level 2 inputs described in Note 6 to the Notes to Consolidated Financial Statements in the 2024 Form 10-K. The carrying value of long-term debt, including current maturities, and short-term debt was $2,509.5 million, $2,370.2 million and $2,859.1 million as of March 29, 2025, December 31, 2024 and March 30, 2024, respectively.

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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/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
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