| Fair Values of Derivative Instruments |
The fair values of derivative instruments related to forward foreign exchange contracts and interest rate contracts recognized in the Condensed Consolidated Balance Sheets of the Company were as follows: | | | | | | | | | | | | | | | | | | | Balance Sheet Location | | Fair Value | | June 28,
2025 | | December 28,
2024 | | Derivatives designated as hedging instruments: | | | | | | | Forward foreign exchange contracts | Other current assets | | $ | 235 | | | $ | 4,431 | | | Interest rate contracts | Other current assets | | 102 | | | — | | | Forward foreign exchange contracts | Other noncurrent assets | | 1 | | | 361 | | | Interest rate contracts | Other noncurrent assets | | 325 | | | — | | | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | Forward foreign exchange contracts | Other current assets | | 398 | | | 3,941 | | | Total derivative assets | | | 1,061 | | | 8,733 | | | | | | | | | Derivatives designated as hedging instruments: | | | | | | | Forward foreign exchange contracts | Accrued liabilities | | (1,993) | | | (41) | | | | | | | | | Forward foreign exchange contracts | Other noncurrent liabilities | | (193) | | | — | | | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | Forward foreign exchange contracts | Accrued liabilities | | (1,548) | | | (20) | | | Total derivative liabilities | | | (3,734) | | | (61) | | | | | | | | | Net derivative asset (liability) | | | $ | (2,673) | | | $ | 8,672 | |
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| Effect of Cash Flow Hedge Derivative Instruments |
The effect of derivative instruments designated as cash flow hedges on the Condensed Consolidated Statements of Operations and AOCI is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Amount of Gain (Loss) Recognized in AOCI on Derivative Instruments | | Quarters Ended | | Six Months Ended | | June 28,
2025 | | June 29,
2024 | | June 28,
2025 | | June 29,
2024 | | Forward foreign exchange contracts | $ | (3,617) | | | $ | (199) | | | $ | (4,174) | | | $ | 5,300 | | | Interest rate contracts | 621 | | | 3,337 | | | 621 | | | 13,612 | | | Total | $ | (2,996) | | | $ | 3,138 | | | $ | (3,553) | | | $ | 18,912 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Location of Gain (Loss)
Reclassified from AOCI | | Amount of Gain (Loss) Reclassified from AOCI into Net Income (Loss) | | | Quarters Ended | | Six Months Ended | | | June 28,
2025 | | June 29,
2024 | | June 28,
2025 | | June 29,
2024 | Forward foreign exchange contracts(1) | Cost of sales | | $ | 2,545 | | | $ | 277 | | | $ | 2,896 | | | $ | 1,866 | | Forward foreign exchange contracts(1) | Loss from discontinued operations, net of tax | | — | | | 186 | | | 22 | | | 1,140 | | | Interest rate contracts | Interest expense, net | | (427) | | | 2,062 | | | (1,150) | | | 4,158 | | | Total | | | $ | 2,118 | | | $ | 2,525 | | | $ | 1,768 | | | $ | 7,164 | |
(1)The Company does not exclude amounts from effectiveness testing for cash flow hedges that would require recognition into earnings based on changes in fair value. The following table presents the amounts in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded: | | | | | | | | | | | | | | | | | | | | | | | | | Quarters Ended | | Six Months Ended | | June 28,
2025 | | June 29,
2024 | | June 28,
2025 | | June 29,
2024 | | Cost of sales | $ | 579,400 | | | $ | 675,584 | | | $ | 1,022,848 | | | $ | 1,122,826 | | | Selling, general and administrative expenses | $ | 257,267 | | | $ | 361,546 | | | $ | 494,059 | | | $ | 623,565 | | | Interest expense, net | $ | 47,536 | | | $ | 50,279 | | | $ | 90,855 | | | $ | 100,862 | | | Loss from discontinued operations, net of tax | $ | (3,882) | | | $ | (162,797) | | | $ | (27,484) | | | $ | (169,117) | |
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| Effect of Mark to Market Hedge Derivative Instruments |
The effect of derivative instruments not designated as hedges on the Condensed Consolidated Statements of Operations is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Location of Gain (Loss) | | Amount of Gain (Loss) Recognized in Net Income (Loss) | | Quarters Ended | | Six Months Ended | | June 28,
2025 | | June 29,
2024 | | June 28,
2025 | | June 29,
2024 | | Forward foreign exchange contracts | Cost of sales | | $ | (3,302) | | | $ | (827) | | | $ | (7,509) | | | $ | 728 | | | Forward foreign exchange contracts | Loss from discontinued operations, net of tax | | — | | | 67 | | | — | | | 2,533 | | | Total | | | $ | (3,302) | | | $ | (760) | | | $ | (7,509) | | | $ | 3,261 | |
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