XML 51 R37.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Debt And Credit Facilities (Tables)
 6 Months Ended
Jun. 28, 2024
Debt Disclosure [Abstract]  
Components of debt
The components of the Company’s debt were as follows, net of debt discount and debt issuance costs ($ in millions):
June 28, 2024December 31, 2023
Senior term loan facility due 2028 (the “2028 Term Loan”)
$526.3 $525.8 
Senior euro term loan facility due 2028 (the “2028 Euro Term Loan”)374.1 385.4 
Convertible senior notes due 2028 (the “2028 Convertible Notes”)
488.3 486.9 
Convertible senior notes due 2025 (the “2025 Convertible Notes”)
115.7 115.3 
Total debt1,504.4 1,513.4 
Less: current portion(115.7)(115.3)
Long-term debt$1,388.7 $1,398.1 
Components of convertible debt
The following table sets forth total interest expense recognized related to convertible notes ($ in millions):
Three Months EndedSix Months Ended
June 28, 2024June 30, 2023June 28, 2024June 30, 2023
Contractual interest expense:
   2028 Convertible Notes$2.2 $— $4.4 $— 
   2025 Convertible Notes0.73.0 1.4 6.1 
Amortization of debt issuance costs:
   2028 Convertible Notes0.7 — $1.4 — 
   2025 Convertible Notes0.1 0.8 $0.3 1.5 
Total interest expense
$3.7 $3.8 $7.5 $7.6 
Components of unamortized debt discount and issuance costs
The remaining unamortized debt issuance costs for debt outstanding were as follows ($ in millions):
June 28, 2024December 31, 2023
2028 Convertible Notes$11.9 $13.3 
2025 Convertible Notes0.7 1.0 
2028 Term Loan3.7 4.2 
2028 Euro Term Loan0.9 1.0 
$17.2 $19.5