Debt (Tables)

3 Months Ended

Mar. 27, 2021

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following table summarizes the Company’s outstanding debt as of the dates indicated (in millions):

	March 27, 2021		December 26, 2020		March 28, 2020
1.75% Senior Notes due 2030	$	650.0	$	650.0	$	—
3.70% Senior Notes due 2029	150.0		150.0		150.0
Senior Credit Facility:
February 2016 Term Loan	—		—		140.0
June 2017 Term Loan	—		—		85.0
March 2020 Term Loan	—		—		200.0
November 2020 Term Loan	200.0		200.0		—
Revolving credit loans	—		—		445.0
Total outstanding borrowings	1,000.0		1,000.0		1,020.0
Less: unamortized debt discounts and issuance costs	(15.2)		(15.7)		(0.9)
Total debt	984.8		984.3		1,019.1
Less: current portion of long-term debt	—		—		(30.0)
Long-term debt	$	984.8	$	984.3	$	989.1
Outstanding letters of credit	$	60.3	$	48.7	$	39.0