Long-Term Debt (Tables)

12 Months Ended

Dec. 25, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Components of long-term debt for the fiscal years ended on December 25, 2022 and December 26, 2021 are as follows:

(In millions)	2022			2021
	Carrying Cost		Fair Value	Carrying Cost		Fair Value
3.90% Notes Due 2029	$	900.0	808.2	$	900.0	991.7
3.55% Notes Due 2026	675.0		635.3	675.0		725.6
3.00% Notes Due 2024	500.0		482.2	500.0		521.2
6.35% Notes Due 2040	500.0		498.4	500.0		692.8
3.50% Notes Due 2027	500.0		465.8	500.0		539.2
5.10% Notes Due 2044	300.0		261.1	300.0		374.5
6.60% Debentures Due 2028	109.9		112.1	109.9		136.7
Variable % Notes Due December 30, 2024 (1)	310.0		310.0	397.5		397.5
Production Financing Facilities	53.2		53.2	170.1		170.1
Total long-term debt	$	3,848.1	3,626.3	$	4,052.5	4,549.3
Less: Deferred debt expenses	23.7		—	28.2		—
Less: Current portion	113.2		—	200.1		—
Long-term debt	$	3,711.2	3,626.3	$	3,824.2	4,549.3

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

Contractual Obligation, Fiscal Year Maturity

The Company's long-term borrowings have the following future contractual maturities:

Future long-term borrowings contractual payments	(In millions)
2023*	$	60.0
2024	750.0
2025	—
2026	675.0
2027	500.0
2028 and thereafter	1,809.9
	3,794.9
Production financing facilities	53.2
	$	3,848.1

* Represents the Company's required quarterly principal amortization payments for term loan facilities in 2023.

Production Financing Loans

The production financing facilities as of December 25, 2022 are as follows:

(In millions)	2022		2021
Production financing included in the consolidated balance sheet as:
Current liabilities	$	195.6	170.1

Carrying Amount of Currencies for Production Credit Facilities

The Company has Canadian dollar and U.S. dollar production credit facilities with various banks. The carrying amounts are denominated in the following currencies:

(In millions)	Canadian Facilities		U.S. Facilities	Total
As of December 25, 2022	$	53.2	142.4	195.6

Schedule of Movements in Production Financing and Other Related Loans

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

(In millions)	Production Financing
December 26, 2021	$	170.1
Drawdowns	258.5
Repayments	(231.5)
Foreign exchange differences	(1.5)
Balance at December 25, 2022	$	195.6