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Long-term Borrowings (Tables)

9 Months Ended

Oct. 02, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The components of borrowings were as follows:

(In millions)			October 2, 2022						January 2, 2022
Term Loan			$	2,698.4					$	—
Revolving Credit Facility			—						—
Financing lease obligation			0.9						0.7
Other long-term borrowings			1.5						—
Unamortized deferred financing costs			(11.2)						—
Total borrowings			2,689.6						0.7
Less: current portion			(207.6)						(0.3)
Long-term borrowings			$	2,482.0					$	0.4

Schedule of Interest Expense

The following table provides the detailed amounts within Interest expense, net for the three and nine months ended October 2, 2022 and October 3, 2021:

			Three Months Ended												Nine Months Ended
(In millions)			October 2, 2022						October 3, 2021						October 2, 2022						October 3, 2021
Term Loan			$	27.9					$	—					$	36.3					$	—
Revolving Credit Facility			0.6						0.1						1.0						0.2
Amortization of deferred financing costs			0.9						0.1						1.2						0.3
Derivative instruments and other			0.6						1.1						3.5						4.4
Interest income			(0.3)						—						(1.0)						(0.2)
Interest expense, net			$	29.7					$	1.3					$	41.0					$	4.7

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