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Borrowings (Tables) | 12 Months Ended
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Dec. 29, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The components of borrowings were as follows:
(In millions) | December 29, 2024 |  | December 31, 2023
Term Loan | $ | 2,282.7 |  |  | $ | 2,420.2 |
Revolving Credit Facility | 198.0 |  |  | — |
Financing lease obligation | 7.9 |  |  | 0.4 |
Other short-term borrowings | — |  |  | 1.6 |
Other long-term borrowings | — |  |  | 0.4 |
Unamortized deferred financing costs | (5.5) |  |  | (8.0) |
Total borrowings | 2,483.1 |  |  | 2,414.6 |
Less: current portion | (341.8) |  |  | (139.8) |
Long-term borrowings | $ | 2,141.3 |  |  | $ | 2,274.8 |
Schedule of Interest Expense | The following table provides the detailed amounts within Interest expense, net for fiscal years ended 2024, 2023 and 2022:
| Fiscal Year Ended
(In millions) | 2024 |  | 2023 |  | 2022
Term Loan | $ | 171.9 |  |  | $ | 175.6 |  |  | $ | 73.0 |
Revolving Credit Facility | 16.4 |  |  | 3.3 |  |  | 1.5 |
Amortization of deferred financing costs | 3.2 |  |  | 3.3 |  |  | 2.1 |
Derivative instruments and other | (25.4) |  |  | (29.1) |  |  | 0.4 |
Interest income | (2.6) |  |  | (5.5) |  |  | (1.3) |
Interest expense, net | $ | 163.5 |  |  | $ | 147.6 |  |  | $ | 75.7 |
Schedule of Maturities of Long-Term Debt | The following table provides a schedule of required future repayments of all borrowings outstanding as of December 29, 2024:
(In millions) |
2025 | $ | 341.8 |
2026 | 173.5 |
2027 | 1,973.3 |
2028 | — |
2029 | — |
Total | $ | 2,488.6 |

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