Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 28, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding forward contracts

We had the following outstanding foreign currency contracts as of March 28, 2025 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	140.1
British pound	GBP	2.3
Japanese yen	JPY	2,605.0
Kenyan shilling	KES	2,128.7

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 March 28, 2025 and December 27, 2024 (U.S. dollars in millions):

	Foreign exchange contracts (1)
Balance Sheet location:	March 28, 2025		December 27, 2024
Asset derivatives:
Prepaid expenses and other current assets	$	0.4	$	0.3
Total asset derivatives	$	0.4	$	0.3
Liability derivatives:
Accounts payable and accrued expenses	$	1.7	$	—
Total liability derivatives	$	1.7	$	—

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 ended March 28, 2025 and March 29, 2024 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income on derivatives
	Quarter ended
Derivative instruments	March 28, 2025		March 29, 2024
Foreign exchange contracts	$	(1.5)	$	3.7
Interest rate swaps, net of tax	(0.9)		2.1
Total	$	(2.4)	$	5.8