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Hedging Transactions and Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instruments, gain (loss)
The following table summarizes the notional values and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended September 27, 2024 and September 29, 2023 ($ in millions):
Three Months Ended
September 27, 2024September 29, 2023
Notional AmountLoss Recognized in OCINotional AmountGain Recognized in OCI
Foreign currency denominated debt$390.7 $(15.7)$370.1 $11.6 
Foreign currency contract150.0 (5.9)150.0 4.2 
Total$540.7 $(21.6)$520.1 $15.8 
Nine Months Ended
September 27, 2024September 29, 2023
Notional AmountLoss Recognized in OCINotional AmountGain Recognized in OCI
Foreign currency denominated debt$390.7 $(4.3)$370.1 $7.3 
Foreign currency contract150.0 (1.6)150.0 2.5 
Total$540.7 $(5.9)$520.1 $9.8 
Schedule of notional amounts of outstanding derivative positions
The following table summarizes the notional values and pretax impact of changes in the fair values of instruments designated as net investment hedges in accumulated other comprehensive loss (“OCI”) for the three and nine months ended September 27, 2024 and September 29, 2023 ($ in millions):
Three Months Ended
September 27, 2024September 29, 2023
Notional AmountLoss Recognized in OCINotional AmountGain Recognized in OCI
Foreign currency denominated debt$390.7 $(15.7)$370.1 $11.6 
Foreign currency contract150.0 (5.9)150.0 4.2 
Total$540.7 $(21.6)$520.1 $15.8 
Nine Months Ended
September 27, 2024September 29, 2023
Notional AmountLoss Recognized in OCINotional AmountGain Recognized in OCI
Foreign currency denominated debt$390.7 $(4.3)$370.1 $7.3 
Foreign currency contract150.0 (1.6)150.0 2.5 
Total$540.7 $(5.9)$520.1 $9.8 
Schedule of derivative instruments in statement of financial position, fair value
The Company’s derivative instrument, as well as its non-derivative debt instrument designated and qualifying as net investment hedges, were classified in the Company’s Condensed Consolidated Balance Sheets as follows ($ in millions):
September 27, 2024December 31, 2023
Derivative liabilities:
Accrued expenses and other liabilities$5.0 $— 
Other long-term liabilities$— $3.3 
Nonderivative hedging instruments:
Long-term debt$390.7 $386.4