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Derivative Financial Instruments (Tables)
6 Months Ended
Jul. 02, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedging Instruments
At July 2, 2023, June 26, 2022 and December 25, 2022, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:
July 2, 2023June 26, 2022December 25, 2022
Hedged transactionNotional
Amount
Fair
Value
Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Inventory purchases$216.5 (5.3)$165.4 12.4 $166.3 (2.7)
Sales118.6 0.3 139.5 2.1 99.2 1.2 
Production financing and other143.5 — 159.8 3.5 116.8 1.5 
Total$478.6 (5.0)$464.7 18.0 $382.3 — 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at July 2, 2023, June 26, 2022 and December 25, 2022 as follows:
July 2,
2023
June 26,
2022
December 25,
2022
Prepaid expenses and other current assets
Unrealized gains$3.8 $20.4 $4.3 
Unrealized losses(3.0)(2.2)(1.8)
Net unrealized gains$0.8 $18.2 $2.5 
Other assets
Unrealized gains$0.5 $0.5 $0.3 
Unrealized losses(0.1)— — 
Net unrealized gains$0.4 $0.5 $0.3 
Accrued liabilities
Unrealized gains$1.2 $0.3 $1.6 
Unrealized losses(7.0)(1.0)(4.4)
Net unrealized losses$(5.8)$(0.7)$(2.8)
Other liabilities
Unrealized losses(0.4)— — 
Net unrealized losses$(0.4)$— $— 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations
Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings for the quarters and six months ended July 2, 2023 and June 26, 2022 as follows:
Quarter EndedSix Months Ended
July 2,
2023
June 26,
2022
July 2,
2023
June 26,
2022
Statements of Operations Classification
Cost of sales$(1.2)$3.0 $1.3 2.6 
Net revenues0.1 0.2 0.2 (0.2)
Other(0.5)(0.1)(0.7)(0.7)
Net realized (losses) gains$(1.6)$3.1 $0.8 1.7 
Schedule of Fair Values of Undesignated Derivative Financial Instruments
At July 2, 2023, June 26, 2022 and December 25, 2022, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows:
July 2,
2023
June 26,
2022
December 25,
2022
Prepaid expenses and other current assets
Unrealized gains$5.8 $6.7 $10.9 
Unrealized losses(2.7)(5.6)(5.9)
Net unrealized gains$3.1 $1.1 $5.0 
Accrued liabilities
Unrealized losses(0.2)(0.1)— 
Net unrealized losses$(0.2)$(0.1)$— 
Total unrealized gains, net$2.9 $1.0 $5.0