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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Offsetting Assets
The following table shows the fair value and balance sheet locations of other derivatives as of December 28, 2024 and December 30, 2023:
(In millions)Notional Amount
Other Current Assets
Other Non-Current Assets
Other Current Liabilities
Other Non-Current Liabilities
Type of Hedge
December 28, 2024
Derivatives designated as hedges:
Foreign currency forward contracts
$958.9 $.2 $— $36.7 $— Fair value
Cross-currency swap contracts
250.0 — 10.9 — — Cash flow
Commodity contracts2.9 .4 — .4 — Cash flow
Foreign currency forward contracts with collars
958.9 17.8 — .2 — Net investment
Total$18.4 $10.9 $37.3 $— 
Derivatives not designated as hedges:
Foreign currency exchange contracts$1,741.8 $11.9 $— $4.2 $— 
December 30, 2023
Derivatives designated as hedges:
Cross-currency swap contracts$250.0 $— $2.3 $— $— Cash flow
Commodity contracts5.8 — — 1.4 .2 Cash flow
Total$— $2.3 $1.4 $.2 
Derivatives not designated as hedges:
Foreign currency exchange contracts
$1,336.6 $6.3 $— $6.0 $— 
Schedule of Offsetting Liabilities
The following table shows the fair value and balance sheet locations of other derivatives as of December 28, 2024 and December 30, 2023:
(In millions)Notional Amount
Other Current Assets
Other Non-Current Assets
Other Current Liabilities
Other Non-Current Liabilities
Type of Hedge
December 28, 2024
Derivatives designated as hedges:
Foreign currency forward contracts
$958.9 $.2 $— $36.7 $— Fair value
Cross-currency swap contracts
250.0 — 10.9 — — Cash flow
Commodity contracts2.9 .4 — .4 — Cash flow
Foreign currency forward contracts with collars
958.9 17.8 — .2 — Net investment
Total$18.4 $10.9 $37.3 $— 
Derivatives not designated as hedges:
Foreign currency exchange contracts$1,741.8 $11.9 $— $4.2 $— 
December 30, 2023
Derivatives designated as hedges:
Cross-currency swap contracts$250.0 $— $2.3 $— $— Cash flow
Commodity contracts5.8 — — 1.4 .2 Cash flow
Total$— $2.3 $1.4 $.2 
Derivatives not designated as hedges:
Foreign currency exchange contracts
$1,336.6 $6.3 $— $6.0 $— 
Derivative Instruments, Gain (Loss)
The following tables show the components of the net gains (losses) recognized in income related to derivative instruments:
(In millions)202420232022
Gain (loss) on derivatives designated as fair value hedges:
Foreign currency forward contracts - Marketing, general and administrative expense
$(36.4)$— $— 
Schedule of Components of the Net Gains (Losses) Recognized in Income Related to Derivative Instruments
The following table shows the components of the net gains (losses) recognized in income related to the derivative instruments not designated as hedges:
(In millions)
Statements of Income Location
202420232022
Foreign currency exchange contracts
Cost of products sold$3.2 $3.4 $5.6 
Foreign currency exchange contracts
Marketing, general and administrative expense(15.2)5.5 (4.3)
$(12.0)$8.9 $1.3