Derivative Financial Instruments and Hedging (Tables)

3 Months Ended

Mar. 29, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value

The fair values of the Company’s derivative financial instruments are presented below, representing the gross amounts recognized which are not offset by counterparty or by type of item hedged. All fair values for these derivatives were measured using Level 2 information as defined by the accounting standard hierarchy, which includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs derived principally from or corroborated by observable market data.

(In millions) Asset derivatives	Balance sheet location	March 29, 2026		December 28, 2025
Derivatives designated as hedging instruments:
Natural gas contracts	Prepaid expenses and other current assets	$	0.5	$	1.0
Nickel and other raw material contracts	Prepaid expenses and other current assets	1.1		0.6
Foreign exchange contracts	Prepaid expenses and other current assets	0.3		0.1
Nickel and other raw material contracts	Other assets	0.1		—
Natural gas contracts	Other assets	0.1		0.1
Total derivatives designated as hedging instruments		$	2.1	$	1.8
Liability derivatives	Balance sheet location
Derivatives designated as hedging instruments:
Nickel and other raw material contracts	Other current liabilities	$	0.1	$	0.1
Natural gas contracts	Other current liabilities	2.0		1.3
Natural gas contracts	Other long-term liabilities	0.4		0.4
Total derivatives designated as hedging instruments		$	2.5	$	1.8

Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance

Activity for derivatives designated as cash flow hedges for the quarters ended March 29, 2026 and March 30, 2025 was as follows (in millions): 

	Amount of Gain (Loss) Recognized in OCI on Derivatives				Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (a)
	Quarter ended				Quarter ended
Derivatives in Cash Flow Hedging Relationships	March 29, 2026		March 30, 2025		March 29, 2026		March 30, 2025
Nickel and other raw material contracts	$	0.9	$	0.7	$	0.4	$	(1.0)
Natural gas contracts	0.6		4.3		1.6		0.1
Foreign exchange contracts	0.3		(0.1)		0.2		0.1
Total	$	1.8	$	4.9	$	2.2	$	(0.8)

(a)The gains (losses) reclassified from accumulated OCI into income related to the derivatives, with the exception of any interest rate swaps, are presented in sales and cost of sales in the same period or periods in which the hedged item affects earnings. The gains (losses) reclassified from accumulated OCI into income on the interest rate swap are presented in interest expense in the same period as the interest expense on the Term Loan is recognized in earnings.