v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 29, 2025
Leases [Abstract]  
Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities
The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at June 29, 2025 and December 31, 2024:
ClassificationBalance Sheet LocationJune 29, 2025December 31, 2024
Lease Assets
Operating lease assetsRight of Use Asset - Operating Leases$318,036 $307,688 
Finance lease assetsOther Assets73,487 76,831 
Total lease assets$391,523 $384,519 
Lease Liabilities
Current operating lease liabilitiesAccrued expenses and other$56,851 $52,648 
Current finance lease liabilitiesNotes payable and current portion of long-term debt24,846 22,284 
Total current lease liabilities$81,697 $74,932 
Noncurrent operating lease liabilitiesNoncurrent Operating Lease Liabilities$268,181 $258,735 
Noncurrent finance lease liabilitiesLong-term Debt, net of current portion44,079 45,344 
Total noncurrent lease liabilities$312,260 $304,079 
Total lease liabilities$393,957 $379,011 
Schedule of Components of Company's Total Lease Costs and Other Lease Related Information
The following table sets forth the components of the Company’s total lease cost for the three- and six-month periods ended June 29, 2025 and June 30, 2024:
Three Months EndedSix Months Ended
Lease CostJune 29, 2025June 30, 2024June 29, 2025June 30, 2024
Operating lease cost(a)$16,340 $10,913 $31,824 $24,283 
Finance lease cost:
     Amortization of lease asset(a)3,285 3,126 6,287 6,211 
     Interest on lease liabilities(b)793 887 1,493 1,808 
Variable lease cost(a) (c)11,269 8,704 23,691 15,301 
Impairment charges(d)545 — 1,178 — 
Total lease cost$32,232 $23,630 $64,473 $47,603 
(a) Production-related costs are included in “Cost of sales” and administrative costs are included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income.
(b) Included in “Interest expense” in the Condensed Consolidated Statements of Income.
(c) Also includes short term lease costs, which are deemed immaterial.
(d) Impairment charges are included in “Restructuring/asset impairment charges” in the Company’s Condensed Consolidated Statements of Income. See Note 6 for additional information.
Schedule of Weighted Average Remaining Lease Terms, Discounts Rates and Other Lease Information The following table sets forth certain lease-related information for the six-month periods ended June 29, 2025 and June 30, 2024:
Six Months Ended
June 29, 2025June 30, 2024
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows used by operating leases $29,599 $23,365 
     Operating cash flows used by finance leases1,493 1,808 
     Financing cash flows used by finance leases7,075 7,495 
Noncash investing and financing activities:
     Leased assets obtained in exchange for new operating lease liabilities15,305 42,998 
     Leased assets obtained in exchange for new finance lease liabilities13,903 4,652 
     Modification to leased assets for increase in operating lease liabilities10,090 3,456 
     Modification to leased assets for (decrease)/increase in finance lease liabilities (10,440)51 
     Termination reclasses to decrease operating lease assets(7,651)(2,075)
     Termination reclasses to decrease operating lease liabilities(7,756)(2,304)
     Termination reclasses to decrease finance lease assets(82)(163)
     Termination reclasses to decrease finance lease liabilities (84)(164)