Financial Instruments (Tables)

6 Months Ended

Jun. 28, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Offsetting Assets

The following table shows the fair value and balance sheet locations of our fair value hedges, cross-currency swap contracts designated as cash flow hedges and net investment hedges as of June 28, 2025 and December 28, 2024:

(In millions)	Notional Amount		Other Current Assets		Other Non-Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Type of Hedge
June 28, 2025
Derivatives designated as hedges:
Foreign currency forward contracts	$	585.8	$	35.8	$	—	$	—	$	—	Fair value
Cross-currency swap contracts	250.0		—		—		—		12.7		Cash flow
Foreign currency forward contracts with collars	585.8		—		—		17.5		—		Net investment
Total			$	35.8	$	—	$	17.5	$	12.7
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
Foreign currency forward contracts with collars	958.9		17.8		—		.2		—		Net investment
Total			$	18.0	$	10.9	$	36.9	$	—

Schedule of Offsetting Liabilities

The following table shows the fair value and balance sheet locations of our fair value hedges, cross-currency swap contracts designated as cash flow hedges and net investment hedges as of June 28, 2025 and December 28, 2024:

(In millions)	Notional Amount		Other Current Assets		Other Non-Current Assets		Other Current Liabilities		Other Non-Current Liabilities		Type of Hedge
June 28, 2025
Derivatives designated as hedges:
Foreign currency forward contracts	$	585.8	$	35.8	$	—	$	—	$	—	Fair value
Cross-currency swap contracts	250.0		—		—		—		12.7		Cash flow
Foreign currency forward contracts with collars	585.8		—		—		17.5		—		Net investment
Total			$	35.8	$	—	$	17.5	$	12.7
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
Foreign currency forward contracts with collars	958.9		17.8		—		.2		—		Net investment
Total			$	18.0	$	10.9	$	36.9	$	—

Schedule of Derivative Instruments, Gain (Loss)

The following table shows the components of net gains (losses) recognized in income related to derivative instruments:

	Three Months Ended				Six Months Ended
(In millions)	June 28, 2025		June 29, 2024		June 28, 2025		June 29, 2024
Gain (loss) on derivatives designated as fair value hedges:
Foreign currency forward contracts - Marketing, general and administrative expense	$	46.4	$	—	$	66.3	$	—