Financial Instruments (Tables)

3 Months Ended

Mar. 27, 2022

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 27, 2022, March 28, 2021 and December 26, 2021 are as follows:

	March 27, 2022			March 28, 2021			December 26, 2021
	Carrying Cost		Fair Value	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	901.7	$	900.0	961.9	$	900.0	991.7
3.55% Notes Due 2026	675.0		677.2	675.0		731.2	675.0		725.6
3.00% Notes Due 2024	500.0		498.0	500.0		533.9	500.0		521.2
6.35% Notes Due 2040	500.0		604.2	500.0		639.6	500.0		692.8
3.50% Notes Due 2027	500.0		496.5	500.0		535.8	500.0		539.2
2.60% Notes Due 2022	—		—	300.0		309.6	—		—
5.10% Notes Due 2044	300.0		321.7	300.0		333.8	300.0		374.5
6.60% Debentures Due 2028	109.9		125.4	109.9		134.4	109.9		136.7
Variable % Notes Due December 30, 2022	—		—	300.0		300.0	—		—
Variable % Notes Due December 30, 2024 (1)	340.0		340.0	570.0		570.0	397.5		397.5
Production Financing Facilities	95.8		95.8	201.8		201.8	170.1		170.1
Total long-term debt	$	3,920.7	4,060.5	$	4,856.7	5,252.0	$	4,052.5	4,549.3
Less: Deferred debt expenses	27.0		—	33.7		—	28.2		—
Less: Current portion	155.8		—	148.9		—	200.1		—
Long-term debt	$	3,737.9	4,060.5	$	4,674.1	5,252.0	$	3,824.2	4,549.3

(1) During the first quarter of 2022, the Company repaid $50.0 million of the Variable % Notes due December 30, 2024.

Production Financing Loans

The production financing facilities as of March 27, 2022, March 28, 2021 and December 26, 2021 are as follows:

	March 27, 2022		March 28, 2021		December 26, 2021
Production financing facilities	$	199.1	$	201.8	$	170.1
Other loans (1)	—		7.9		—
Total	$	199.1	$	209.7	$	170.1
Production financing included in the consolidated balance sheet as:
Non-current	$	—	$	82.9	$	—
Current	199.1		118.9		170.1
Total	$	199.1	$	201.8	$	170.1

(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 Financing Loans

The carrying amounts are denominated in the following currencies:

	Canadian Dollars		U.S. Dollars		Total
As of March 27, 2022	$	24.2	$	71.6	$	95.8

Schedule of Production Financing Loans

The following table represents the movements in production financing loans during the first quarter of 2022:

	Production Financing
December 26, 2021	$	170.1
Drawdowns	112.2
Repayments	(84.0)
Foreign exchange differences	0.8
Balance at March 27, 2022	$	199.1