Financial Instruments (Tables)

3 Months Ended

Mar. 28, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying costs, which are equal to the outstanding principal amounts, and fair values of the Company's long-term borrowings as of March 28, 2021, March 29, 2020 and December 27, 2020 are as follows:

	March 28, 2021			March 29, 2020			December 27, 2020
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	961.9	$	900.0	774.5	$	900.0	1,011.2
3.55% Notes Due 2026	675.0		731.2	675.0		641.6	675.0		752.7
3.00% Notes Due 2024	500.0		533.9	500.0		480.6	500.0		540.6
6.35% Notes Due 2040	500.0		639.6	500.0		498.2	500.0		636.5
3.50% Notes Due 2027	500.0		535.8	500.0		465.4	500.0		544.5
2.60% Notes Due 2022	300.0		309.6	300.0		295.3	300.0		311.5
5.10% Notes Due 2044	300.0		333.8	300.0		251.7	300.0		338.1
3.15% Notes Due 2021 (1)	—		—	300.0		299.9	300.0		302.3
6.60% Debentures Due 2028	109.9		134.4	109.9		122.6	109.9		137.4
Variable % Notes Due December 30, 2022	300.0		300.0	400.0		400.0	300.0		300.0
Variable % Notes Due December 30, 2024	570.0		570.0	600.0		600.0	577.5		577.5
Production Financing Facilities	201.8		201.8	175.6		175.6	165.5		165.5
Total long-term debt	$	4,856.7	5,252.0	$	5,260.5	5,005.4	$	5,127.9	5,617.8
Less: Deferred debt expenses	33.7		—	39.7		—	35.3		—
Less: Current portion	148.9		—	64.5		—	432.6		—
Long-term debt	$	4,674.1	5,252.0	$	5,156.3	5,005.4	$	4,660.0	5,617.8

(1) During the first quarter of 2021 the Company repaid in full its 3.15% Notes, in the aggregate amount of $300.0 million due in May 2021.

Production Financing Loans

The production financing facilities as of March 28, 2021, March 29, 2020 and December 27, 2020 are as follows:

	March 28, 2021		March 29, 2020		December 27, 2020
Production financing held by production subsidiaries	$	201.8	$	175.6	$	165.5
Other loans (1)	7.9		9.4		5.4
Total	$	209.7	$	185.0	$	170.9
Production financing included in the consolidated balance sheet as:
Non-current	$	82.9	$	141.1	$	62.9
Current	118.9		34.5		102.6
Total	$	201.8	$	175.6	$	165.5

(1) Other loans consist of production related demand loans, and are recorded within Short-term Borrowings in the Company's consolidated balance sheets.

Carrying Amount of Currencies for Production Credit Facilities

The carrying amounts are denominated in the following currencies:

	Canadian Dollars		U.S. Dollars	Total
As of March 28, 2021	$	52.1	149.7	$	201.8

Schedule of Production and Financing Loan and Other Loans

The following table represents the movements in production financing and other related loans during the first quarter of 2021:

	Production Financing		Other Loans	Total
December 27, 2020	$	165.5	5.4	$	170.9
Drawdowns	72.4		9.9	82.3
Repayments	(37.4)		(7.8)	(45.2)
Foreign exchange differences	1.3		0.4	1.7
Balance at March 28, 2021	$	201.8	7.9	$	209.7