Financial Instruments (Tables)

6 Months Ended

Jun. 27, 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 June 27, 2021, June 28, 2020 and December 27, 2020 are as follows:

	June 27, 2021			June 28, 2020			December 27, 2020
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	982.1	$	900.0	938.1	$	900.0	1,011.2
3.55% Notes Due 2026	675.0		731.9	675.0		712.2	675.0		752.7
3.00% Notes Due 2024	500.0		530.2	500.0		523.4	500.0		540.6
6.35% Notes Due 2040	500.0		675.2	500.0		579.7	500.0		636.5
3.50% Notes Due 2027	500.0		538.1	500.0		516.0	500.0		544.5
2.60% Notes Due 2022	300.0		308.0	300.0		309.7	300.0		311.5
5.10% Notes Due 2044	300.0		353.0	300.0		304.0	300.0		338.1
3.15% Notes Due 2021 (1)	—		—	300.0		318.6	300.0		302.3
6.60% Debentures Due 2028	109.9		136.0	109.9		124.5	109.9		137.4
Variable % Notes Due December 30, 2022 (2)	50.0		50.0	400.0		400.0	300.0		300.0
Variable % Notes Due December 30, 2024	562.5		562.5	592.5		592.5	577.5		577.5
Production Financing Facilities	212.6		212.6	142.0		142.0	165.5		165.5
Total long-term debt	$	4,610.0	5,079.6	$	5,219.4	5,460.7	$	5,127.9	5,617.8
Less: Deferred debt expenses	31.7		—	38.3		—	35.3		—
Less: Current portion	189.6		—	378.6		—	432.6		—
Long-term debt	$	4,388.7	5,079.6	$	4,802.5	5,460.7	$	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.

(2) During the second quarter of 2021, the Company repaid $250.0 million of the Variable % Notes Due December 30, 2022.

Production Financing Loans

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

	June 27, 2021		June 28, 2020		December 27, 2020
Production financing held by production subsidiaries	$	212.6	$	142.0	$	165.5
Other loans (1)	—		6.4		5.4
Total	$	212.6	$	148.4	$	170.9
Production financing included in the consolidated balance sheet as:
Non-current	$	53.0	$	93.4	$	62.9
Current	159.6		48.6		102.6
Total	$	212.6	$	142.0	$	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 June 27, 2021	$	49.0	$	163.6	$	212.6

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 six months of 2021:

	Production Financing		Other Loans		Total
December 27, 2020	$	165.5	$	5.4	$	170.9
Drawdowns	114.7		16.7		131.4
Repayments	(70.0)		(23.0)		(93.0)
Foreign exchange differences	2.4		0.9		3.3
Balance at June 27, 2021	$	212.6	$	—	$	212.6