v3.25.2
Derivatives (Tables)
 6 Months Ended
Jul. 04, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The effects of designated cash flow hedges on the Company’s Consolidated and Condensed Statements of Operations consisted of the following:
Three Months EndedSix Months Ended
Derivative TypeGain Recognized in the Consolidated and Condensed Statements of OperationsJuly 4, 2025June 28, 2024July 4, 2025June 28, 2024
(In thousands)
Interest rate swap agreement(s)Interest expense and other, net$— $(3,049)$(1,414)$(5,770)
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The effects of the excluded components of designated net investment hedges on the Company’s Consolidated and Condensed Statements of Operations consisted of the following:
Three Months EndedSix Months Ended
Derivative TypeLoss (Gain) Recognized in the Consolidated and Condensed Statements of OperationsJuly 4, 2025June 28, 2024July 4, 2025June 28, 2024
(In thousands)
Cross-currency swap agreementsInterest expense and other, net$1,575 $(1,175)$(784)$(2,354)
Schedule of Fair Values of Derivative Instruments in the Financial Statements
The table below shows the fair value of the derivatives recognized in the Consolidated and Condensed Balance Sheets:
July 4, 2025December 31, 2024
Designated as Hedging InstrumentsOther LiabilitiesOther AssetsOther LiabilitiesOther Assets
(In thousands)
Cross-currency swap agreements$53,941 $— $1,830 $— 
Interest rate swap agreement— — — 842 
$53,941 $— $1,830 $842 
Derivatives Not Designated as Hedging Instruments
The table below shows the fair value of derivative instruments not designated in a hedging relationship recognized in the Consolidated and Condensed Balance Sheets:
July 4, 2025December 31, 2024
Not Designated as Hedging InstrumentsAccrued LiabilitiesOther Current AssetsAccrued LiabilitiesOther Current Assets
(In thousands)
Foreign currency contracts$1,474 $2,636 $379 $255 
Schedule of Derivative Instruments
The Company recognized the following in its Consolidated and Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship:
Three Months EndedSix Months Ended
Foreign Currency ContractsJuly 4, 2025June 28, 2024July 4, 2025June 28, 2024
(In thousands)
Change in unrealized gains$2,578 $678 $1,285 $629 
Realized gains 142 2,542 1,590 378 

The above gains or losses on foreign currency contracts are usually offset by foreign exchange exposure on cash and intercompany positions, all of which are recognized in Interest expense and other, net, in the Consolidated and Condensed Statements of Operations.