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Derivative Instruments & Hedging Activities (Tables) | 6 Months Ended
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Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Financial Instruments Included in Consolidated Balance Sheets | The fair value of the Company’s derivative financial instruments included in the Consolidated Balance Sheets is presented as follows:
| Asset Derivatives |  |  | Liability Derivatives |
| Balance Sheet |  | Fair Value (1) |  | Fair Value (1) |  |  | Balance Sheet |  | Fair Value (1) |  | Fair Value (1) |
| Location |  | June 29, 2024 |  | December 30, 2023 |  |  | Location |  | June 29, 2024 |  | December 30, 2023 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swap contracts | Other assets |  | $ | — |  | $ | 6.7 |  |  | Other non-current liabilities |  | $ | — |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Forward foreign exchange contracts | Other current assets |  |  | — |  |  | — |  |  | Other current liabilities |  |  | — |  |  | — |
Forward foreign exchange contracts | Other assets |  |  | — |  |  | — |  |  | Other non-current liabilities |  |  | — |  |  | — |
Total derivatives |  |  | $ | — |  | $ | 6.7 |  |  |  |  | $ | — |  | $ | — |
(1) See Note 4 for information regarding the inputs used in determining the fair value of derivative assets and liabilities.
Schedule of Gains and Losses Related to Derivative Financial Instruments | The amount of gains and losses related to the Company’s derivative financial instruments for the six months ended June 29, 2024, and July 1, 2023, are presented as follows:
|  | Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion) |  |  | Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income | Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion) |
|  | June 29, 2024 |  | July 1, 2023 |  |  | into Earnings (Effective Portion) |  | June 29, 2024 |  | July 1, 2023 |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |
Interest rate swap contracts |  | $ | 0.5 |  | $ | 0.2 |  |  | Interest expense, net |  | $ | 3.6 |  | $ | 3.4 |
Interest expense presented in the Consolidated Statements of Operations, in which the effects of cash flow hedges are recorded, totaled $16.7 and $14.0 for the six months ended June 29, 2024, and July 1, 2023, respectively.
|  | Amount of Gain or (Loss) Recognized in Earnings on Derivatives |  |  | Location of Gain or (Loss) Recognized
|  | June 29, 2024 |  | July 1, 2023 |  |  | in Earnings on Derivatives
Derivatives not designated as hedging instruments: |  |  |
Forward foreign exchange contracts |  | $ | — |  | $ | (0.4 | ) |  | Foreign currency transaction gain / loss, net

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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