Financial Instruments and Derivative Instruments (Tables)

9 Months Ended

Sep. 25, 2022

Financial Instruments and Derivative Instruments

Schedule of fair value of financial assets and liabilities

	Fair Value Measurement at September 25, 2022 Using:
			Quoted Prices in Active		Significant Other		Significant
			Markets for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	1.9	$	1.9	$	—	$	—
Interest rate swap(2)	$	9.8	$	—	$	9.8	$	—
Designated foreign currency hedges(4)	$	0.4	$	—	$	0.4	$	—
Total assets	$	12.1	$	1.9	$	10.2	$	—
Liabilities
Plan liability for deferred compensation(3)	$	1.9	$	1.9	$	—	$	—
Contingent consideration(6)	$	5.2	$	—	$	—	$	5.2
Total liabilities	$	7.1	$	1.9	$	—	$	5.2

	Fair Value Measurements at December 31, 2021 Using:
			Quoted Prices in Active		Significant Other		Significant
			Markets for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
	(in millions)
Assets
Plan asset for deferred compensation(1)	$	2.6	$	2.6	$	—	$	—
Interest rate swap(1)	$	1.4	$	—	$	1.4	$	—
Total assets	$	4.0	$	2.6	$	1.4	$	—
Liabilities
Interest rate swap(5)	$	0.6	$	—	$	0.6	$	—
Plan liability for deferred compensation(3)	$	2.6	$	2.6	$	—	$	—
Contingent consideration(6)	$	6.3	$	—	$	—	$	6.3
Total liabilities	$	9.5	$	2.6	$	0.6	$	6.3

(1) Included on the Company’s consolidated balance sheet in other assets (other, net).

(2) As of September 25, 2022, $3.0 million classified in prepaid expenses and other current assets on the Company’s consolidated balance sheet and $6.8 million classified in other assets (other, net).

(3) Included on the Company’s consolidated balance sheet in accrued compensation and benefits.

(4)Included on the Company’s consolidated balance sheet in prepaid expenses and other current assets.

(5)Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities.

(6)As of September 25, 2022, contingent consideration of $5.2 million related to two immaterial acquisitions, of which $2.7 million was classified in accrued expenses and other liabilities and $2.5 million was classified in other noncurrent liabilities on the Company’s consolidated balance sheet. As of December 31, 2021, contingent consideration of $6.3 million related to two immaterial acquisitions, of which $3.8 million was classified in accrued expenses and other liabilities and $2.5 million was classified in other noncurrent liabilities on the Company’s consolidated balance sheet.