v3.25.1
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 29, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the fair value of outstanding derivatives on an individual contract basis:
Fair Value of Derivatives
with Unrealized Gains		Fair Value of Derivatives
with Unrealized Losses
MarchDecemberMarchMarchDecemberMarch
(In thousands)202520242024202520242024
Derivatives designated as hedging instruments:
Foreign currency exchange contracts$3,045 $7,720 $18,553 $(9,557)$(11,620)$(1,710)
Interest rate swap agreements2,508 5,390 596 — — — 
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts15 — — (8,865)— (72)
Total derivatives$5,568 $13,110 $19,149 $(18,422)$(11,620)$(1,782)
The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
March 2025December 2024March 2024
(In thousands)Derivative AssetDerivative LiabilityDerivative AssetDerivative LiabilityDerivative AssetDerivative Liability
Gross amounts presented in the balance sheet$5,568 $(18,422)$13,110 $(11,620)$19,149 $(1,782)
Gross amounts not offset in the balance sheet(2,827)2,827 (3,468)3,468 (1,417)1,417 
Net amounts$2,741 $(15,595)$9,642 $(8,152)$17,732 $(365)
The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates:
(In thousands)March 2025December 2024March 2024
Prepaid expenses and other current assets$2,567 $5,845 $17,016 
Accrued and other current liabilities(17,305)(10,659)(1,638)
Other assets3,001 7,265 2,133 
Other liabilities(1,117)(961)(144)
Pre-Tax Effects of Cash Flow Hedges Included in the Statement of Operations and Statements of Comprehensive Income (Loss)
The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income:
Gain (Loss) on Derivatives Recognized in AOCL
(In thousands)Three Months Ended March
Cash Flow Hedging Relationships20252024
Foreign currency exchange contracts$(3,751)$10,146 
Interest rate swap agreements(2,464)74 
Total$(6,215)$10,220 
Gain (Loss) Reclassified from AOCL into Income
(In thousands)Three Months Ended March
Location of Gain (Loss)20252024
Net revenues$(811)$53 
Cost of goods sold(489)5,291 
Other expense, net176 82 
Interest expense419 2,731 
Total$(705)$8,157 
Derivatives Not Designated as Hedging Instruments
The following table presents a summary of derivatives not designated as hedges included in the Company's statements of operations:
(In thousands)Location of Gain (Loss) on Derivatives Recognized in IncomeGain (Loss) on Derivatives Recognized in Income
Three Months Ended March
Derivatives Not Designated as Hedges
20252024
Foreign currency exchange contractsOther expense, net$(8,868)$23 
Total$(8,868)$23