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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income from continuing operations before income taxes were as follows:
(U.S. Dollars presented in millions) |  | 2023 |  | 2022 |  | 2021
Domestic operations |  | $ | 213.2 |  |  | $ | 162.2 |  |  | $ | 204.0 |
Foreign operations |  | 25.5 |  |  | 51.2 |  |  | 34.3 |
Income before income taxes |  | $ | 238.7 |  |  | $ | 213.4 |  |  | $ | 238.3 |
Schedule of Income Tax Expense | Income tax expense in the consolidated statement of income consisted of the following:
(U.S. Dollars presented in millions) |  | 2023 |  | 2022 |  | 2021
Current |  |  |  |  |  |
Federal |  | $ | 44.2 |  |  | $ | 30.9 |  |  | $ | 43.7 |
State |  | 9.3 |  |  | 14.2 |  |  | 10.8 |
Foreign |  | 8.9 |  |  | 10.6 |  |  | 8.9 |
Deferred |  |  |  |  |  |
Federal |  | 1.2 |  |  | 3.7 |  |  | (5.4) |
State |  | (2.1) |  |  | (2.3) |  |  | (0.2) |
Foreign |  | (4.8) |  |  | 0.9 |  |  | (2.1) |
Total income tax expense |  | $ | 56.7 |  |  | $ | 58.0 |  |  | $ | 55.7 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:
(in percentages) |  | 2023 |  | 2022 |  | 2021
Income tax expense at U.S. federal statutory income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net of federal tax benefit |  | 2.2 |  |  | 4.3 |  |  | 3.9 |
Foreign taxes at a different rate than U.S. federal statutory income tax rate |  | 0.6 |  |  | (0.4) |  |  | (0.2) |
Unrecognized tax benefits |  | — |  |  | (6.6) |  |  | (0.5) |
IRS audit adjustments |  | — |  |  | 8.1 |  |  | — |
Miscellaneous other, net |  | — |  |  | 0.8 |  |  | (0.8) |
Effective income tax rate |  | 23.8 | % |  | 27.2 | % |  | 23.4 | %
Schedule of Deferred Tax Assets and Liabilities | The components of net deferred tax assets (liabilities) as of December 31, 2023 and December 25, 2022 were as follows:
(U.S. Dollars presented in millions) |  | 2023 |  | 2022
Deferred tax assets: |  |  |  |
Compensation and benefits |  | $ | 15.9 |  |  | $ | 14.6 |
Other accrued expenses |  | 14.7 |  |  | 15.9 |
Accounts receivable |  | 12.5 |  |  | 18.8 |
Operating lease liabilities |  | 11.0 |  |  | 14.6 |
Capitalized inventories |  | 4.2 |  |  | 6.0 |
Net operating loss and other tax carryforwards |  | 3.2 |  |  | 2.4 |
Defined benefit plans |  | 1.1 |  |  | 2.4 |
Valuation allowance |  | (1.0) |  |  | (1.2) |
Other |  | 8.7 |  |  | 4.6 |
Total deferred tax assets |  | 70.3 |  |  | 78.1 |
Deferred tax liabilities: |  |  |  |
Intangible assets |  | (114.3) |  |  | (118.0) |
Fixed assets |  | (22.0) |  |  | (25.3) |
Operating lease assets |  | (10.5) |  |  | (14.0) |
Prepaid marketing |  | (3.0) |  |  | (4.1) |
Unremitted earnings of foreign subsidiaries |  | — |  |  | (0.2) |
Other |  | (0.4) |  |  | (2.2) |
Total deferred tax liabilities |  | (150.2) |  |  | (163.8) |
Net deferred tax liability |  | $ | (79.9) |  |  | $ | (85.7) |
Schedule of Classification of Deferred Tax Assets and Liabilities | Deferred taxes were classified in the Consolidated Balance Sheets as of December 31, 2023 and December 25, 2022 as follows:
(U.S. Dollars presented in millions) |  | 2023 |  | 2022
Other assets |  | $ | 3.7 |  |  | $ | 1.6 |
Deferred income taxes |  | (83.6) |  |  | (87.3) |
Net deferred tax liability |  | $ | (79.9) |  |  | $ | (85.7) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the Company’s gross change in UTBs, including accrued interest and penalties, is as follows:
(U.S. Dollars presented in millions) |  | 2023 |  | 2022 |  | 2021
Unrecognized tax benefits—beginning of year |  | $ | 1.2 |  |  | $ | 20.2 |  |  | $ | 21.5 |
Gross additions—current year tax positions |  | — |  |  | 0.1 |  |  | 0.1 |
Gross additions—prior year tax positions |  | — |  |  | — |  |  | 0.1 |
Gross reductions—prior year tax positions |  | (0.3) |  |  | (17.8) |  |  | (1.5) |
Gross reductions—settlements with taxing authorities |  | — |  |  | (1.3) |  |  | — |
Unrecognized tax benefits—end of year |  | $ | 0.9 |  |  | $ | 1.2 |  |  | $ | 20.2 |
Unrecognized tax benefits—accrued interest and penalties |  | 0.7 |  |  | 0.5 |  |  | 3.0 |
Gross unrecognized tax benefits |  | $ | 1.6 |  |  | $ | 1.7 |  |  | $ | 23.2 |

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