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FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Balance Sheet Locations of Other Derivatives, Fair Value
The following table shows the fair value and balance sheet locations of our derivative instruments as of December 31, 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
December 31, 2025
Derivatives designated as hedges:
Foreign currency forward contracts
$1,173.8 $— $— $— $4.5 Fair value
Cross-currency swap contracts
250.0 — — — 9.9 Cash flow
Commodity contracts1.7 — — .3 — Cash flow
Foreign currency forward contracts with collars
1,173.8 — 2.6 — — Net investment
Total$— $2.6 $.3 $14.4 
Derivatives not designated as hedges:
Foreign currency exchange contracts$1,467.5 $4.2 $— $3.4 $— 
December 28, 2024
Derivatives designated as hedges:
Foreign currency forward contracts
$958.9 $.2 $— $36.7 $— Fair value
Cross-currency swap contracts250.0 — 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 $— 
Schedule of Offsetting Liabilities
The following table shows the fair value and balance sheet locations of our derivative instruments as of December 31, 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
December 31, 2025
Derivatives designated as hedges:
Foreign currency forward contracts
$1,173.8 $— $— $— $4.5 Fair value
Cross-currency swap contracts
250.0 — — — 9.9 Cash flow
Commodity contracts1.7 — — .3 — Cash flow
Foreign currency forward contracts with collars
1,173.8 — 2.6 — — Net investment
Total$— $2.6 $.3 $14.4 
Derivatives not designated as hedges:
Foreign currency exchange contracts$1,467.5 $4.2 $— $3.4 $— 
December 28, 2024
Derivatives designated as hedges:
Foreign currency forward contracts
$958.9 $.2 $— $36.7 $— Fair value
Cross-currency swap contracts250.0 — 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 $— 
Schedule of Components of the Net Gains (Losses) Recognized in Income Related to Derivative Instruments
The following tables show the components of the net gains (losses) recognized in income related to derivative instruments designated as fair value hedges:
(In millions)202520242023
Gain (loss) on derivatives designated as fair value hedges:
Foreign currency forward contracts - Marketing, general and administrative expense
$70.2 $(36.4)$— 
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
202520242023
Foreign currency exchange contracts
Cost of products sold$(.9)$3.2 $3.4 
Foreign currency exchange contracts
Marketing, general and administrative expense1.9 (15.2)5.5 
$1.0 $(12.0)$8.9