Fair Value Measurement (Tables)

3 Months Ended

Mar. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

The fair value hierarchy has three levels based on the reliability of the inputs used to determine the fair value. 

			Fair Value Measurements at March 30, 2024 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	$	21,668	$	—	$	21,668	$	—
Total Assets	$	21,668	$	—	$	21,668	$	—
Liabilities
Derivative liabilities	$	4,685	$	—	$	4,685	$	—
Contingent consideration	58,652		—		—		58,652
6% Senior notes	988,000		—		988,000		—
5.25% Senior notes	491,250		—		491,250		—
3.625% Senior notes	547,023		—		547,023		—
Term loan A-1	397,005		—		397,005		—
Term loan A-2	475,734		—		475,734		—
Term loan A-3	297,754		—		297,754		—
Term loan A-4	485,063		—		485,063		—
Revolver debt	628,610		—		628,610		—
Total Liabilities	$	4,373,776	$	—	$	4,315,124	$	58,652

			Fair Value Measurements at December 30, 2023 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	$	29,000	$	—	$	29,000	$	—
Total Assets	$	29,000	$	—	$	29,000	$	—
Liabilities
Derivative liabilities	$	19,997	$	—	$	19,997	$	—
Contingent consideration	86,495		—		—		86,495
6% Senior notes	1,000,000		—		1,000,000		—
5.25% Senior notes	493,100		—		493,100		—
3.625% Senior notes	560,994		—		560,994		—
Term loan A-1	398,000		—		398,000		—
Term loan A-2	478,844		—		478,844		—
Term loan A-3	298,500		—		298,500		—
Term loan A-4	488,172		—		488,172		—
Revolver debt	604,766		—		604,766		—
Total Liabilities	$	4,428,868	$	—	$	4,342,373	$	86,495

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

The changes in contingent consideration are due to the following:

(in thousands of dollars)	Contingent Consideration
Balance as of December 30, 2023	$	86,495
Total included in earnings during period	(25,249)
Exchange rate changes	(2,594)
Balance as of March 30, 2024	$	58,652