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Financial Instruments (Tables)

9 Months Ended

Sep. 28, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Values of Foreign Exchange Derivative Instruments on the Consolidated Balance Sheets

The fair values of foreign exchange derivative instruments on the condensed consolidated balance sheets as of September 28, 2025 and December 29, 2024 were:

(U.S. Dollars presented in millions)						Location						September 28, 2025						December 29, 2024
Assets:
Foreign exchange contracts						Other current assets						$	5.7					$	—
						Total assets						$	5.7					$	—
Liabilities:
Foreign exchange contracts						Other current liabilities						$	—					$	5.7
						Total liabilities						$	—					$	5.7

Schedule of Effects of Derivative Financial Instruments on the Consolidated Statements of Income

The effects of cash flow hedging financial instruments included within the condensed consolidated statements of comprehensive income for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 are 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
						13 Weeks Ended												39 Weeks Ended
(U.S. Dollars presented in millions)						September 28, 2025						September 29, 2024						September 28, 2025						September 29, 2024
Foreign exchange contracts:
Unrealized holding gains (losses) arising during period						$	2.5					$	(4.1)					$	9.3					$	(8.0)
Less: reclassification adjustment for (gains) losses included in net income						(2.2)						2.0						0.5						0.7
Unrealized gains (losses) on derivatives						$	0.3					$	(2.1)					$	9.8					$	(7.3)

The effects of fair value hedging financial instruments included in other expense, net on the condensed consolidated statements of income for the thirteen and thirty-nine weeks ended September 28, 2025 and September 29, 2024 were:

						Amount Recognized in Earnings  on Fair Value Hedging Relationships
						13 Weeks Ended												39 Weeks Ended
(U.S. Dollars presented in millions)						September 28, 2025						September 29, 2024						September 28, 2025						September 29, 2024
Foreign exchange contracts:
Hedged items						$	0.1					$	0.1					$	(0.4)					$	—
Derivatives designated as hedging instruments						—						(0.1)						—						—
Net gains (losses) recognized in earnings						$	0.1					$	—					$	(0.4)					$	—

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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 4CC
-Publisher FASB
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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.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 815
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