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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Fair Values of Foreign Exchange Derivative Instruments on the Consolidated Balance Sheets | The fair values of foreign exchange derivative instruments on the consolidated balance sheets as of December 31, 2023 and December 25, 2022 were:
(U.S. Dollars presented in millions) |  | Location |  | December 31, 2023 |  | December 25, 2022
Assets: |  |  |  |  |  |
Foreign exchange contracts |  | Other current assets |  | $ | 3.0 |  |  | $ | 3.7 |
|  | Total assets |  | $ | 3.0 |  |  | $ | 3.7 |
Liabilities: |  |  |  |  |  |
Foreign exchange contracts |  | Other current liabilities |  | $ | 0.1 |  |  | $ | 0.5 |
|  | Total liabilities |  | $ | 0.1 |  |  | $ | 0.5 |
Effects of Derivative Financial Instruments on the Consolidated Statements of Income | The effects of cash flow hedging financial instruments included within the consolidated statements of comprehensive income in 2023, 2022 and 2021 were as presented in the table below. When the hedged item affects earnings, amounts are reclassed out of accumulated other comprehensive loss and recognized as a component of cost of products sold.
|  | Amount Recognized in Statement of Comprehensive Income for Cash Flow Hedging Relationships
(U.S. Dollars presented in millions) |  | 2023 |  | 2022 |  | 2021
Foreign exchange contracts: |  |  |  |  |  |
Unrealized holding gains arising during period |  | $ | 9.6 |  |  | $ | 7.2 |  |  | $ | 0.5 |
Less: reclassification adjustment for gains included in net income |  | (10.2) |  |  | (4.5) |  |  | (2.9) |
Unrealized (losses) gains on derivatives |  | $ | (0.6) |  |  | $ | 2.7 |  |  | $ | (2.4) |
The effects of fair value hedging financial instruments included in other expense, net on the consolidated statements of income in 2023, 2022 and 2021 were:
|  | Amount of Gain (Loss) Recognized in Earnings on Fair Value Hedging Relationships
(U.S. Dollars presented in millions) |  | 2023 |  | 2022 |  | 2021
Foreign exchange contracts: |  |  |  |  |  |
Hedged items |  | $ | (1.3) |  |  | $ | — |  |  | $ | — |
Derivatives designated as hedging instruments |  | 5.9 |  |  | (7.2) |  |  | (0.5) |
Net gains (losses) recognized in earnings |  | $ | 4.6 |  |  | $ | (7.2) |  |  | $ | (0.5) |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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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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