Debt (Tables)

3 Months Ended

Mar. 29, 2025

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

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

	March 29, 2025		December 28, 2024		March 30, 2024
5.25% Senior Notes	$	750.0	$	750.0	$	750.0
1.75% Senior Notes	650.0		650.0		650.0
3.70% Senior Notes (a)	150.0		150.0		150.0
Senior credit facilities:
Revolving Credit Facility	550.0		300.0		200.0
Total outstanding borrowings	2,100.0		1,850.0		1,750.0
Less: unamortized debt discounts and issuance costs	(17.3)		(18.0)		(20.3)
Total debt	2,082.7		1,832.0		1,729.7
Less: current portion of long-term debt	—		—		—
Long-term debt	$	2,082.7	$	1,832.0	$	1,729.7
Outstanding letters of credit	$	76.8	$	74.1	$	62.2

(a) Also referred to herein as the “Note Purchase Facility,” referring to the Note Purchase and Private Shelf Agreement dated as of August 14, 2017 by and among the Company, PGIM, Inc. and the noteholders party thereto, as amended through November 2, 2022, under which the notes were purchased.