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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 28, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets Measured on Recurring and Nonrecurring Basis
The table below summarizes the valuation of our financial instruments carried at fair value by the applicable pricing categories (in millions):
September 28, 2024December 31, 2023
Measured at fair value on a recurring basis:Level 1Level 2Level 3Level 1Level 2Level 3
Assets:
Investment securities$— $— $— $0.1 $— $— 
Foreign currency forward contracts— 2.6 — — 0.6 — 
Interest rate swap agreements— 1.8 — — 30.5 — 
Total assets$— $4.4 $— $0.1 $31.1 $— 
Liabilities:
Cross-currency swap$— $152.6 $— $— $172.0 $— 
Foreign currency forward contracts— 3.9 — — 2.7 — 
Interest rate swap agreements— 45.6 — — 11.7 — 
Total liabilities$— $202.1 $— $— $186.4 $— 
Measured at fair value on a non-recurring basis:
Assets:
Goodwill(1)
$— $— $— $— $— $118.9 
Assets held for sale, net(2)
$— $— $4.8 $— $— $— 
Total assets held for sale, net$— $— $4.8 $— $— $118.9 
(1) During the year ended December 31, 2023, goodwill within the Rare Diseases Business with a carrying value of $208.9 million was written down to a fair value of $118.9 million.
(2) We measured the net assets held for sale for impairment purposes and recorded a total impairment of $10.8 million, resulting in a net asset held for sale balance of $4.8 million (refer to Note 4).
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
Our fixed rate long-term debt consisted of the following (in millions):
September 28, 2024December 31, 2023
Public BondsLevel 1Level 1
Carrying value (excluding discount)$3,350.0 $2,244.4 
Fair value$3,272.2 $2,062.2