v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 28, 2021
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on a Recurring Basis
The following table presents fair values of certain assets and liabilities at March 28, 2021 and December 31, 2020:
March 28, 2021 December 31, 2020
(in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Senior Note(1)
—  $ 351.6  —  —  $ 329.0  — 
Convertible Note(1)
—  188.3  —  —  180.0  — 
Interest Rate Swaps(2)
—  5.3  —  —  6.6  — 
Contingent consideration(3)
—  —  $ 6.9  —  —  $ 6.9 
(1) The amounts of these notes listed above are the current fair values for disclosure purposes only, and they are recorded in the Company's condensed consolidated balance sheets as of March 28, 2021 and December 31, 2020 using the interest rate method as described in Note 9.
(2) The interest rate swaps are comprised of over-the-counter derivatives, which are valued using models that primarily rely on observable inputs such as yield curves, and are classified as Level 2 in the fair value hierarchy and discussed further in Note 10.
(3) The estimated fair value of the Company's contingent consideration is valued using Level 3 inputs and is discussed further in Note 6.