XML 70 R59.htm IDEA: XBRL DOCUMENT v3.24.2
FINANCING ARRANGEMENTS - Additional Information (Details) - USD ($)
6 Months Ended
Jun. 28, 2024
Mar. 22, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 27, 2024
Dec. 31, 2023
Debt Instrument [Line Items]            
Debt fair value       $ 2,800,000,000   $ 2,300,000,000
2022 Swaps            
Debt Instrument [Line Items]            
Notional amount of interest rate swap agreements       600,000,000.0    
Derivative asset       $ 41,400,000   35,500,000
Secured debt | 2024 Incremental Term Loans            
Debt Instrument [Line Items]            
Debt Instrument, face amount   $ 500,000,000        
Proceeds from issuance of debt   491,200,000        
Secured debt | Existing Term Loans            
Debt Instrument [Line Items]            
Debt outstanding   $ 980,000,000        
Effective interest rate (as a percent)       3.83%    
Secured debt | Existing Term Loans | 2022 Swaps            
Debt Instrument [Line Items]            
Debt Instrument, face amount       $ 600,000,000    
Effective interest rate (as a percent)     2.931%      
Secured debt | Existing Term Loans | 2022 Swaps | From July 1, 2023 through September 30, 2027            
Debt Instrument [Line Items]            
Derivative, fixed interest rate       1.9645%    
Secured debt | Existing Term Loans | 2022 Swaps | Through June 30, 2023            
Debt Instrument [Line Items]            
Derivative, fixed interest rate     0.931%      
Secured debt | Secured senior term loans due October 8, 2028            
Debt Instrument [Line Items]            
Debt Instrument, prepayment premium percentage   1.00%        
Secured debt | 2028 Term Loans, Variable Rate            
Debt Instrument [Line Items]            
Debt outstanding       $ 872,400,000    
Effective interest rate (as a percent)       7.19%    
Secured debt | Base Rate | Secured senior term loans due October 8, 2028            
Debt Instrument [Line Items]            
Debt, interest margin   0.75%        
Debt, floor interest rate   1.00%        
Secured debt | SOFR | Existing Term Loans            
Debt Instrument [Line Items]            
Debt, interest margin     2.00%      
Secured debt | SOFR | Secured senior term loans due October 8, 2028            
Debt Instrument [Line Items]            
Debt, interest margin   1.75%        
Debt, floor interest rate   0.00%        
Secured debt | Term SOFR Adjustment | Secured senior term loans due October 8, 2028            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent)   0.11448%        
Revolving credit facility | Term CORRA Adjustment 1            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 0.29547%          
Revolving credit facility | Term CORRA Adjustment 2            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 0.32138%          
Revolving credit facility | Line of Credit            
Debt Instrument [Line Items]            
Revolving credit facility maximum borrowing capacity $ 600,000,000       $ 400,000,000  
Outstanding letters of credit       $ 136,500,000    
Debt outstanding       0   $ 0
Available to borrow and outstanding letters of credit       $ 463,500,000    
Revolving credit facility | Line of Credit | SOFR Adjustment and Base Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 1.50%          
Revolving credit facility | Line of Credit | SOFR Adjustment            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 0.10%          
Revolving credit facility | Line of Credit | Base Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 0.50%          
Revolving credit facility | Line of Credit | Canadian Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate (as a percent) 0.50%          
Revolving credit facility | Line of Credit | Canadian Subsidiaries            
Debt Instrument [Line Items]            
Revolving credit facility maximum borrowing capacity $ 50,000,000          
Revolving credit facility | Line of Credit | US Borrower            
Debt Instrument [Line Items]            
Revolving credit facility maximum borrowing capacity 550,000,000          
Letter of Credit | Line of Credit            
Debt Instrument [Line Items]            
Revolving credit facility maximum borrowing capacity $ 250,000,000