v3.25.2
New Accounting Standards (Notes)
 6 Months Ended
Jun. 28, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block] NEW ACCOUNTING STANDARDS
The Financial Accounting Standards Board (“FASB”) has issued the following Accounting Standards Updates (“ASUs”) that the Company has not yet adopted. The following is a summary of the new standards and anticipated impact of adopting these new standards.
StandardDescriptionEffect on the Financial Statements
ASU 2023-09, Improvements to Income Tax DisclosuresRequires annual disclosures of prescribed standard categories for the components of the effective tax rate reconciliation, disclosure of income taxes paid disaggregated by jurisdiction, and other income-tax related disclosures. The ASU is effective on a prospective basis, with retrospective application permitted, for fiscal years beginning after December 15, 2024.The Company is evaluating the impact of the new standard on its Consolidated Financial Statements.
ASU 2024-03, Disaggregation of Income Statement ExpensesRequires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is evaluating the impact of the new standard on its Consolidated Financial Statements.