Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding forward contracts

We had the following outstanding foreign currency forward contracts as of September 29, 2023 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	73.4
British pound	GBP	9.1
Japanese yen	JPY	297.8
Chilean peso	CLP	6,876.0
Kenyan shilling	KES	982.4
Korean won	KRW	4,100.0

Fair values of derivative instruments

The following table reflects the fair values of derivative instruments, which are designated as level 2 in the fair value hierarchy, as of September 29, 2023 and December 30, 2022 (U.S. dollars in millions):

Effect of derivative instruments on Consolidated Statements of Comprehensive Income (Loss)

The following table reflects the effect of derivative instruments on the Consolidated Statements of Comprehensive Income for the quarters and nine months ended September 29, 2023 and September 30, 2022 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income (loss) on derivatives
	Quarter ended				Nine months ended
Derivative instruments	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Foreign exchange contracts	$	2.5	$	(2.6)	$	7.0	$	17.2
Interest rate swaps, net of tax	2.3		14.2		2.1		38.8
Total	$	4.8	$	11.6	$	9.1	$	56.0