DERIVATIVES FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Mar. 29, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on our Consolidated Condensed Balance Sheets as of March 29, 2025 and September 28, 2024 were as follows:


	As of
	March 29, 2025				September 28, 2024
(in thousands)	Notional Amount		Fair Value Liability Derivatives(1)			Notional Amount		Fair Value Asset Derivatives(2)
Derivatives designated as hedging instruments:
Foreign exchange forward contracts (3)	$	47,251	$	(678)		$	46,234	$	1,521
Total derivatives	$	47,251	$	(678)		$	46,234	$	1,521

(1)The fair value of derivative liabilities is measured using level 2 fair value inputs and is included in accrued expenses and other current liabilities on our Consolidated Condensed Balance Sheets.

(2)The fair value of derivative assets is measured using level 2 fair value inputs and is included in prepaid expenses and other current assets on our Consolidated Condensed Balance Sheets.

(3)Hedged amounts expected to be recognized to income within the next twelve months.

Derivative Instruments, Gain (Loss)

The effects of derivative instruments designated as cash flow hedges in our Consolidated Condensed Statements of Comprehensive Income for the three and six months ended March 29, 2025 and March 30, 2024 were as follows:


	Three months ended				Six months ended
(in thousands)	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024
Foreign exchange forward contract in cash flow hedging relationships:
Net gain/(loss) recognized in OCI, net of tax(1)	$	214	$	(1,189)	$	(2,071)	$	66
Net (loss)/gain reclassified from accumulated OCI into net income, net of tax(2)	$	(155)	$	(28)	$	128	$	(243)

(1)Net change in the fair value of the effective portion classified in OCI.

(2)Effective portion classified as selling, general and administrative expense.