Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

As of December 31, 2023 and December 25, 2022, the Company had the following assets and liabilities measured at fair value in its Consolidated Balance Sheets (excluding assets for which the fair value is measured using net asset value per share):


			Fair Value Measurements Using
(In millions)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
December 31, 2023
Assets:
Available-for-sale securities	$	1.1	1.1	—	—
Derivatives	0.7		—	0.7	—
Total assets	$	1.8	1.1	0.7	—
Liabilities:
Derivatives	$	3.9	—	3.9	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	5.6	—	3.9	1.7
December 25, 2022
Assets:
Available-for-sale securities	$	1.7	1.7	—	—
Derivatives	7.9		—	7.9	—
Total assets	$	9.6	1.7	7.9	—
Liabilities:
Derivatives	$	2.9	—	2.9	—
Option agreement	1.7		—	—	1.7
Total liabilities	$	4.6	—	2.9	1.7

Summary of Reconciliation of Level 3 Fair Value

The following is a reconciliation of the beginning and ending balances of the fair value measurements of the Company’s financial instruments which use significant unobservable inputs (Level 3):


(In millions)	2023		2022
Balance at beginning of year	$	(1.7)	(1.7)

Balance at end of year	$	(1.7)	(1.7)