Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 27, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding forward contracts

We had the following outstanding foreign currency contracts as of June 27, 2025 (in millions):

Foreign currency contracts qualifying as cash flow hedges:	Notional amount
Euro	EUR	102.3
British pound	GBP	2.9
Japanese yen	JPY	2,745.8
Costa Rican colon	CRC	45,965.6
Chilean peso	CLP	6,354.4
Kenyan shilling	KES	1,433.3
Mexican peso	MXP	277.0

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

	Foreign exchange contracts (1)
Balance Sheet location:	June 27, 2025		December 27, 2024
Asset derivatives:
Prepaid expenses and other current assets	$	2.8	$	0.3
Total asset derivatives	$	2.8	$	0.3
Liability derivatives:
Accounts payable and accrued expenses	$	9.7	$	—
Total liability derivatives	$	9.7	$	—

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 and six months ended June 27, 2025 and June 28, 2024 (U.S. dollars in millions):

	Net amount of gain (loss) recognized in other comprehensive income on derivatives
	Quarter ended				Six months ended
Derivative instruments	June 27, 2025		June 28, 2024		June 27, 2025		June 28, 2024
Foreign exchange contracts	$	(5.5)	$	1.4	$	(7.0)	$	5.1
Interest rate swaps, net of tax	(0.8)		(0.4)		(1.7)		1.7
Total	$	(6.3)	$	1.0	$	(8.7)	$	6.8