Income Taxes (Tables)

12 Months Ended

Dec. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) From Continuing Operations Before Income Taxes

Income (loss) from continuing operations, before income taxes consisted of the following:

	For the Fiscal Year Ended
(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022
Canada	$	(54.9)	$	(1.3)	$	(30.1)
Outside Canada	145.7		79.5		42.7
Income (loss) from continuing operations, before income taxes	$	90.8	$	78.2	$	12.6

Schedule of Income Tax Expense

Income tax expense consisted of the following:

	For the Fiscal Year Ended
(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022
Current
Canada	$	—	$	—	$	—
Outside Canada	25.5		2.2		3.3
	$	25.5	$	2.2	$	3.3
Deferred
Canada	$	—	$	—	$	—
Outside Canada	1.5		17.3		4.4
	$	1.5	$	17.3	$	4.4
Income tax expense	$	27.0	$	19.5	$	7.7

Schedule of Reconciliation of Income Taxes

The following table reconciles income taxes calculated at the basic Canadian corporate rates with the income tax provision:

	For the Fiscal Year Ended
(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022
Income tax expense (benefit) based on Canadian statutory rates	$	24.1	$	20.7	$	3.3
Foreign tax rate differential	(13.4)		(9.0)		(7.1)
Local taxes	8.9		4.0		1.6
Nontaxable interest income	(3.4)		(3.4)		(3.9)
Impairment expense	—		0.9		—
Impact of intercompany transactions and dividends	(0.5)		(2.3)		0.2
Income tax credits	(1.8)		(0.2)		(0.3)
Change in enacted tax rates	(1.3)		0.5		(0.4)
Change in valuation allowance	16.8		7.0		8.6
Change in uncertain tax positions	(5.5)		0.6		1.5
Equity compensation	1.4		1.4		2.2
Permanent differences	1.0		0.6		0.8
Adjustments to prior year taxes	0.1		(1.8)		1.2
Other items	0.6		0.5		—
Income tax expense	$	27.0	$	19.5	$	7.7

Schedule of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities were recognized on temporary differences between the financial and tax bases of existing assets and liabilities as follows:

(in millions of U.S. dollars)	December 30, 2023		December 31, 2022
Deferred tax assets
Net operating loss carryforwards	$	108.0	$	116.1
Capital loss carryforwards	17.8		15.2
Liabilities and reserves	28.6		23.3
Stock options	9.3		10.4
Inventories	2.2		2.2
Interest expense	26.6		25.5
Right of use lease obligations	41.3		43.8
	233.8		236.5
Deferred tax liabilities
Property, plant and equipment	(54.0)		(66.1)
Intangible assets	(151.1)		(154.0)
Right of use assets	(37.4)		(40.6)
Other	(3.7)		(2.5)
	(246.2)		(263.2)
Valuation allowance	(131.6)		(115.5)
Net deferred tax liability	$	(144.0)	$	(142.2)

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of our unrecognized tax benefits is as follows:

	For the Fiscal Year Ended
(in millions of U.S. dollars)	December 30, 2023		December 31, 2022		January 1, 2022
Unrecognized tax benefits at beginning of year	$	15.9	$	16.4	$	13.8
Additions based on tax positions taken during a prior period	1.0		—		1.1
Additions related to acquired entities	—		—		1.7
Lapse in statute of limitations	(9.7)		(1.8)		(1.9)
Additions based on tax positions taken during the current period	1.9		1.8		1.7
Foreign exchange	0.3		(0.5)		—
Unrecognized tax benefits at end of year	$	9.4	$	15.9	$	16.4