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Long-term Borrowings (Tables)

3 Months Ended

Apr. 02, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The components of borrowings were as follows:

(In millions)			April 2, 2023						January 1, 2023
Term Loan			$	2,595.3					$	2,646.9
Financing lease obligation			0.7						0.8
Other long-term borrowings			1.0						1.2
Unamortized deferred financing costs			(9.9)						(10.6)
Total borrowings			2,587.1						2,638.3
Less: current portion			(207.5)						(207.5)
Long-term borrowings			$	2,379.6					$	2,430.8

Schedule of Interest Expense

The following table provides the detailed amounts within Interest expense, net for the three months ended April 2, 2023 and April 3, 2022.

									Three Months Ended
(In millions)															April 2, 2023						April 3, 2022
Term Loan															$	40.9					$	—
Revolving Credit Facility															0.5						0.1
Amortization of deferred financing costs															0.8						0.1
Derivative instruments and other															(4.5)						1.1
Interest income															(1.0)						(0.3)
Interest expense, net															$	36.7					$	1.0

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