v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cross Currency Swap Contracts, Forward Contracts, and Interest Rate Swaps
The fair value of forward contracts were as follows:
(in thousands)Balance Sheet LocationJune 28, 2025December 28, 2024
Forward contracts not designated as hedging instrumentsDerivative asset – current$24 $4,574 
Forward contracts not designated as hedging instrumentsAccounts payable and accrued liabilities$1,881 $— 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The impact of derivative financial instruments on the unaudited interim Condensed Consolidated Statements of Operations and Comprehensive Income was as follows:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Loss (gain) on forward contracts recognized in (gain) loss on foreign currency, net$4,248 $(189)$4,593 $(460)
Gain on cross currency swaps recognized in (gain) loss on foreign currency, net$— $(2,033)$— $(7,647)
Gain on interest rate swaps recognized in interest expense, net$(1,796)$(2,680)$(4,432)$(5,704)
Schedule of Accumulated Other Comprehensive (Loss) Income
The table below presents the effect of cash flow hedge accounting on other comprehensive income (loss), net of tax:
Thirteen Weeks EndedTwenty-Six Weeks Ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Gain recognized in other comprehensive income (loss)$— $165 $— $2,364 
Gain reclassified from accumulated other comprehensive income into net income$1,796 $2,680 $4,432 $5,704