Financial Instruments (Tables)

9 Months Ended

Sep. 26, 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 September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:

	September 26, 2021			September 27, 2020			December 27, 2020
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	1,001.7	$	900.0	947.5	$	900.0	1,011.2
3.55% Notes Due 2026	675.0		737.2	675.0		716.1	675.0		752.7
3.00% Notes Due 2024	500.0		529.1	500.0		531.9	500.0		540.6
6.35% Notes Due 2040	500.0		702.3	500.0		587.4	500.0		636.5
3.50% Notes Due 2027	500.0		546.2	500.0		518.8	500.0		544.5
2.60% Notes Due 2022 (1)	—		—	300.0		310.7	300.0		311.5
5.10% Notes Due 2044	300.0		375.0	300.0		313.4	300.0		338.1
3.15% Notes Due 2021 (2)	—		—	300.0		303.5	300.0		302.3
6.60% Debentures Due 2028	109.9		137.2	109.9		130.3	109.9		137.4
Variable % Notes Due December 30, 2022 (3)	—		—	400.0		400.0	300.0		300.0
Variable % Notes Due December 30, 2024 (4)	505.0		505.0	577.5		577.5	577.5		577.5
Production Financing Facilities	204.7		204.7	121.4		121.4	165.5		165.5
Total long-term debt	$	4,194.6	4,738.4	$	5,183.8	5,458.5	$	5,127.9	5,617.8
Less: Deferred debt expenses	29.6		—	36.8		—	35.3		—
Less: Current portion	187.6		—	369.3		—	432.6		—
Long-term debt	$	3,977.4	4,738.4	$	4,777.8	5,458.5	$	4,660.0	5,617.8

(1) During the third quarter of 2021, the Company repaid in full its 2.60% Notes, in the aggregate principal amount of $300.0 million due in November 2022.

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

(3) During the second quarter of 2021, the Company repaid $250.0 million of the Variable % Notes Due December 30, 2022 and during the third quarter of 2021, the Company repaid the remaining balance of $50.0 million of the Variable % Notes Due December 30, 2022.

(4) During the third quarter of 2021, the Company repaid $50.0 million of the Variable % Notes Due December 30, 2024.

Production Financing Loans

The production financing facilities as of September 26, 2021, September 27, 2020 and December 27, 2020 are as follows:

	September 26, 2021		September 27, 2020		December 27, 2020
Production financing held by production subsidiaries	$	204.7	$	121.4	$	165.5
Other loans (1)	—		9.0		5.4
Total	$	204.7	$	130.4	$	170.9
Production financing included in the consolidated balance sheet as:
Non-current	$	47.0	$	82.2	$	62.9
Current	157.7		39.2		102.6
Total	$	204.7	$	121.4	$	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 September 26, 2021	$	37.0	$	167.7	$	204.7

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 nine months of 2021:

	Production Financing		Other Loans		Total
December 27, 2020	$	165.5	$	5.4	$	170.9
Drawdowns	127.6		16.7		144.3
Repayments	(89.6)		(22.9)		(112.5)
Foreign exchange differences	1.2		0.8		2.0
Balance at September 26, 2021	$	204.7	$	—	$	204.7