Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

v3.20.2
Fair Value Measurements
 9 Months Ended
Sep. 26, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 26, 2020:
(in millions) Level 1 Level 2 Total
Assets:      
Cash equivalents $ 0.3  $ —  $ 0.3 
Short-term investments in marketable securities 0.8  —  0.8 
Restricted cash 9.1  —  9.1 
Derivatives —  2.6  2.6 
Total assets $ 10.2  $ 2.6  $ 12.8 
Liabilities:      
Derivatives $ —  $ 3.7  $ 3.7 
Deferred compensation 0.8  16.5  17.3 
Total liabilities at fair value $ 0.8  $ 20.2  $ 21.0 
Liabilities measured at net asset value 10.1 
Total liabilities $ 31.1 

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:
(in millions) Level 1 Level 2 Total
Assets:      
Cash equivalents $ 0.3  $ —  $ 0.3 
Short-term investments in marketable securities 0.8  —  0.8 
Restricted cash 11.6  —  11.6 
Derivatives —  4.2  4.2 
Total assets $ 12.7  $ 4.2  $ 16.9 
Liabilities:      
Derivatives $ —  $ 3.2  $ 3.2 
Deferred compensation 1.2  18.8  20.0 
Total liabilities at fair value $ 1.2  $ 22.0  $ 23.2 
Liabilities measured at net asset value 8.5 
Total liabilities $ 31.7 
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 28, 2019:
(in millions) Level 1 Level 2 Total
Assets:      
Cash equivalents $ 0.2  $ —  $ 0.2 
Short-term investments in marketable securities 0.8  —  0.8 
Restricted cash 11.6  —  11.6 
Derivatives —  11.7  11.7 
Total assets $ 12.6  $ 11.7  $ 24.3 
Liabilities:      
Derivatives $ —  $ 1.8  $ 1.8 
Deferred compensation 1.1  20.6  21.7 
Total liabilities at fair value $ 1.1  $ 22.4  $ 23.5 
Liabilities measured at net asset value 10.3 
Total liabilities $ 33.8 

In addition to the items shown in the tables above, refer to Note 7 in the Notes to Consolidated Financial Statements in the 2019 Form 10-K for further information regarding the fair value measurements associated with the Company’s postretirement benefit plans.