Fair Value Measurements (Tables)

3 Months Ended

Mar. 29, 2025

Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company's financial assets and liabilities measured at fair value on a recurring basis:


		Fair Value
(in millions)	Fair Value Level	March 29, 2025		December 31, 2024		March 30, 2024
Cash equivalents	1	$	16.9	$	12.3	$	0.2
Short-term investments in marketable securities	1	0.8		0.8		0.8
Restricted cash	1	18.0		16.9		11.1
Derivative assets	2	10.7		22.1		10.4
Derivative liabilities	2	17.2		9.4		8.4
Deferred compensation	1	0.8		1.0		1.5
Deferred compensation	2	18.5		19.2		16.2

Liabilities measured at net asset value		12.8		14.3		13.0

Fair Value of Other Financial Instruments. The carrying values of the Company's short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. As of March 29, 2025, December 31, 2024 and March 30, 2024, the fair value of the Company’s long-term debt, including current maturities, and short-term debt was approximately $2,299.3 million, $2,161.3 million and $2,659.5 million, respectively, and was determined using Level 1 and Level 2 inputs described in Note 6 to the Notes to Consolidated Financial Statements in the 2024 Form 10-K. The carrying value of long-term debt, including current maturities, and short-term debt was $2,509.5 million, $2,370.2 million and $2,859.1 million as of March 29, 2025, December 31, 2024 and March 30, 2024, respectively.