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Hedging Transactions and Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 03, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes the notional values and pretax impact of changes in the fair values of instruments designated as net investment hedges in OCI for the three months ended April 3, 2026 and March 28, 2025 ($ in millions):




	Notional Amount		Gain Recognized in OCI
Three Months Ended April 3, 2026
Foreign currency denominated debt	$	518.4	$	10.2
Foreign currency contract	150.0		2.9

Total	$	668.4	$	13.1





	Notional Amount		Loss Recognized in OCI
Three Months Ended March 28, 2025
Foreign currency denominated debt	$	379.0	$	(16.6)
Foreign currency contract	150.0		(4.7)

Total	$	529.0	$	(21.3)

Schedule of notional amounts of outstanding derivative positions




	Notional Amount		Gain Recognized in OCI
Three Months Ended April 3, 2026
Foreign currency denominated debt	$	518.4	$	10.2
Foreign currency contract	150.0		2.9

Total	$	668.4	$	13.1





	Notional Amount		Loss Recognized in OCI
Three Months Ended March 28, 2025
Foreign currency denominated debt	$	379.0	$	(16.6)
Foreign currency contract	150.0		(4.7)

Total	$	529.0	$	(21.3)

Schedule of derivative instruments in statement of financial position, fair value

The Company’s derivative instruments, 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):


	April 3, 2026		December 31, 2025


Qualifying Net Investment Hedges:
Derivative hedging instruments:
Other long-term liabilities	$	7.4	$	10.2

Non-derivative hedging instruments:
Long-term debt	$	518.4	$	528.6

Non - Designated Hedge Derivatives:
Accrued expenses and other liabilities, net	$	4.0	$	—