Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables presents the Company's financial instruments that are measured at fair value on a recurring and nonrecurring basis as of December 31, 2022 and January 1, 2022 and are categorized using the fair value hierarchy under FASB authoritative guidance. The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value.


			Fair Value Measurements at December 31, 2022 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands of dollars)	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative assets	$	20,324	$	—	$	20,324	$	—
Total Assets	20,324		—		20,324		—

Liabilities
Derivative liabilities	5,406		—		5,406		—
Contingent consideration	169,903		—		—		169,903
6% Senior Notes	977,200		—		977,200		—
5.25% Senior Notes	485,700		—		485,700		—
3.625% Senior Notes	533,155		—		533,155		—
Term loan A-1	398,000		—		398,000		—
Term loan A-2	488,813		—		488,813		—
Term loan B	199,000		—		199,000		—
Revolver	133,003		—		133,003		—
Total Liabilities	$	3,390,180	$	—	$	3,220,277	$	169,903


			Fair Value Measurements at January 1, 2022 Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands of dollars)	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative assets	$	5,031	$	—	$	5,031	$	—
Total Assets	5,031		—		5,031		—

Liabilities
Derivative liabilities	7,173		—		7,173		—
5.25% Senior Notes	515,600		—		515,600		—
3.625% Senior Notes	591,200		—		591,200		—
Term Loan B	200,000		—		200,000		—
Revolver	158,400		—		158,400		—
Total Liabilities	$	1,472,373	$	—	$	1,472,373	$	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The fair value measurement of the FASA contingent liability consideration uses significant unobservable inputs (level 3). The changes in contingent consideration are due to the following:


(in thousands of dollars)	Contingent Consideration
Balance as of January 1, 2022	$	—
Initial measurement	168,128
Total expense included in earnings during period	3,506
Exchange rate changes	(1,731)
Balance as of December 31, 2022	$	169,903