Fair Value Measurement (Tables)

9 Months Ended

Sep. 28, 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 September 28, 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	$	8,000	$	—	$	8,000	$	—
Total Assets	$	8,000	$	—	$	8,000	$	—
Liabilities
Derivative liabilities	$	35,421	$	—	$	35,421	$	—
Contingent consideration	37,851		—		—		37,851
Total Liabilities	$	73,272	$	—	$	35,421	$	37,851

			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
Total Liabilities	$	106,492	$	—	$	19,997	$	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	(42,215)
Exchange rate changes	(6,429)
Balance as of September 28, 2024	$	37,851

Fair Value, by Balance Sheet Grouping

Fair value of financial instruments that are not carried at fair value are as follows:

			Fair Value Measurements at September 28, 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)
Liabilities
6% Senior notes	$	1,010,400	$	—	$	1,010,400	$	—
5.25% Senior notes	497,500		—		497,500		—
3.625% Senior notes	571,247		—		571,247		—
Term loan A-1	396,010		—		396,010		—
Term loan A-2	472,625		—		472,625		—
Term loan A-3	297,008		—		297,008		—
Term loan A-4	481,953		—		481,953		—
Revolver debt	413,883		—		413,883		—
Total Liabilities	$	4,140,626	$	—	$	4,140,626	$	—

			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)
Liabilities
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	$	4,322,376	$	—	$	4,322,376	$	—