Borrowings (Tables)

12 Months Ended

Jan. 02, 2022

Debt Instrument [Line Items]

Components of Borrowings

As of January 2, 2022 and January 3, 2021, the components of borrowings were:

	January 2, 2022			January 3, 2021
Senior Secured Credit Facilities
Dollar Term Loan Facility	$	1,292.8		$	2,185.5
Euro Term Loan Facility		335.8			408.9
Revolving Credit Facility		—			—
2028 Notes		405.0			675.0
2025 Notes		240.0			400.0
Accounts Receivable Financing		—			75.0
Sale and Leaseback Financing		—			20.5
Finance lease obligation		0.7			1.0
Other short-term borrowings		—			0.9
Other long-term borrowings		2.6			3.9
Unamortized deferred financing costs		(21.4	)		(40.9	)
Unamortized original issue discount		(5.3	)		(11.3	)
Total borrowings		2,250.2			3,718.5
Less: Current portion		(63.4	)		(160.0	)
Long-term borrowings	$	2,186.7		$	3,558.5

Schedule of Interest Expense, Net

The following table provides the detail of interest expense, net for the fiscal years ended January 2, 2022, January 3, 2021 and December 29, 2019.

	Fiscal Year Ended
	January 2, 2022		January 3, 2021			December 29, 2019
Interest expense:
Dollar Term Loan Facility	$	45.2	$	89.0		$	128.6
Euro Term Loan Facility		13.3		12.7			—
Revolving Credit Facility		2.8		3.7			4.2
2028 Notes		30.9		45.8			—
2025 Notes		18.7		16.6			—
2022 Notes		—		14.1			85.9
Accounts receivable financing		0.7		5.0			5.5
Amortization of:
Deferred financing costs		6.6		8.4			10.1
Original issue discount		1.4		2.3			2.3
Capital lease obligation and other		—		1.9			2.9
Derivative instruments		26.4		(1.3	)		(8.0	)
Less: Capitalized interest		—		—			(0.1	)
Interest expense, net	$	146.0	$	198.2		$	231.4

Schedule of Required Future Repayments of all Borrowings Outstanding

The following table provides a schedule of required future repayments of all borrowings outstanding on January 2, 2022.

2022	$	63.4
2023		63.0
2024		62.7
2025		1,682.8
2026		—
Thereafter		405.0
	$	2,276.9

2025 Notes

Debt Instrument [Line Items]

Schedule of Redemption Prices Expressed as Percentages of Principal Amount

On or after June 1, 2022, the Issuers have the option to redeem all or part of the 2025 Notes at the following redemption prices (expressed as percentages of principal amount):

Year	Price
2022		103.688	%
2023		101.844	%
2024 and thereafter		100.000	%

2028 Notes

Debt Instrument [Line Items]

Schedule of Redemption Prices Expressed as Percentages of Principal Amount

On or after February 1, 2023, the Issuers have the option to redeem all or part of the 2028 Notes at the following redemption prices (expressed as percentages of principal amount):

Year	Price
2023		103.625	%
2024		101.813	%
2025 and thereafter		100.000	%