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Supplier Finance Program | 12 Months Ended
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Dec. 30, 2023
Payables and Accruals [Abstract] |
Supplier Finance Program | Supplier Finance Program One of the Corporation’s third-party financial institutions offers a supply chain finance ("SCF") program by which it allows eligible Corporation suppliers the opportunity to sell their trade receivables due from the Corporation. Supplier participation in the SCF program is voluntary and requires an agreement between the supplier and the financial institution, to which the Corporation is not a party. Any sales of supplier receivables to the financial institution are at the sole discretion of the supplier and are priced at a rate that leverages the Corporation’s credit rating and thus may be more beneficial to the supplier. The Corporation’s responsibility is limited to confirming to the financial institution the invoices of participating suppliers that are valid for payment under the SCF program and making payment on the terms originally negotiated with each supplier, regardless of whether the supplier sells its receivables to the financial institution. In the rollforward table below, new invoices confirmed represent the invoices which have been confirmed by the Corporation to the financial institution as valid for payment under the SCF program, while confirmed invoices paid represent payments made to the financial institution by the Corporation based on the original invoice terms. The balance at the end of the period represents invoices which have been confirmed as valid to the financial institution under the terms of the SCF program, but in which the Corporation has not yet made payment. This SCF program payment obligation due by the Corporation to the financial institution is recorded in "Accounts payable and accrued expenses" in the Consolidated Balance Sheets. The Corporation’s payments to the financial institution to settle obligations related to suppliers that elected to participate in the SCF program are reflected in cash flows from operating activities in the Consolidated Statements of Cash Flows.
|  | 2023 |  |
Balance at beginning of period |  | $ | 27.4 |  |  |
Impact of business combination |  | 0.9 |  |  |
New invoices confirmed during the period |  | 131.0 |  |  |
Confirmed invoices paid during the period |  | (130.9) |  |  |
Balance at end of period |  | $ | 28.4 |  |  |

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