Borrowings and Other Arrangements (Tables)

6 Months Ended

Jul. 04, 2021

As of July 4, 2021 and January 3, 2021, the components of borrowings were as follows:

	July 4, 2021			January 3, 2021
Senior Secured Credit Facilities
Dollar Term Loan Facility	$	1,292.8		$	2,185.5
Euro Term Loan Facility		380.9			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		0.9			1.0
Other short-term borrowings		2.1			0.9
Other long-term borrowings		3.2			3.9
Unamortized deferred financing costs		(23.9	)		(40.9	)
Unamortized original issue discount		(6.0	)		(11.3	)
Total borrowings		2,295.0			3,718.5
Less: Current portion		(65.6	)		(160.0	)
Long-term borrowings	$	2,229.4		$	3,558.5

Schedule of Interest Expense, Net

The following table provides the detail of amounts within Interest expense, net for the fiscal quarters and six months ended July 4, 2021 and June 28, 2020:

	Fiscal Quarter Ended					Fiscal Six Months Ended
	July 4, 2021		June 28, 2020			July 4, 2021		June 28, 2020
Interest expense:
Dollar Term Loan Facility	$	10.6	$	21.6		$	24.6	$	49.5
Euro Term Loan Facility		3.4		3.2			7.0		5.5
Revolving Credit Facility		—		2.2			0.6		3.2
2028 Notes		7.3		12.1			16.4		20.7
2025 Notes		4.4		1.5			9.9		1.5
2022 Notes		—		4.0			—		14.1
Accounts Receivable Financing		0.3		1.0			0.7		2.6
Amortization of:
Deferred financing costs		1.6		2.1			3.3		4.3
Original issue discount		0.3		0.6			0.7		1.2
Derivative instruments and other		5.0		(0.8	)		13.1		(2.9	)
Interest expense, net	$	33.0	$	47.5		$	76.4	$	99.7

Schedule of Required Future Repayments of all Borrowings Outstanding

Below is a schedule of required future repayments of all borrowings outstanding as of July 4, 2021:

Remainder of 2021	$	48.5
2022		63.2
2023		62.8
2024		62.6
2025		1,682.8
Thereafter		405.0
	$	2,324.9

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%