v3.26.1
Derivative Instruments and Hedging Activity (Tables)
3 Months Ended
Apr. 03, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Non-Hedging
The following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives not designated as hedging instruments (on a gross basis) and the balance sheet classification as of April 3, 2026 and December 31, 2025:
 
April 3, 2026
December 31, 2025
(Thousands)Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Foreign currency forward contracts
Prepaid and other current assets$48,186 $480 $6,240 $76 
Other liabilities and accrued items5,039 80 56,174 489 
Schedule of Fair Value Measurements, Recurring and Nonrecurring
The following table summarizes the notional amount and the fair value of the Company’s outstanding derivatives designated as cash flow hedges (on a gross basis) and the balance sheet classification as of April 3, 2026 and December 31, 2025:
 
April 3, 2026
Fair Value
(Thousands)Notional
Amount
Prepaid and other current assetsOther assetsOther liabilities and accrued itemsOther long-term liabilities
Foreign currency forward contracts - yen$388 $12 $ $ $ 
Foreign currency forward contracts - euro     
Precious metal swaps     
Interest rate swaps225,000 1,176  93 27 
Total$225,388 $1,188 $ $93 $27 
December 31, 2025
Fair Value
Notional
Amount
Prepaid and other current assetsOther assetsOther liabilities and accrued itemsOther long-term liabilities
Foreign currency forward contracts - yen$579 $$— $— $— 
Foreign currency forward contracts - euro— — — — — 
Precious metal swaps— — — — — 
Interest rate swaps200,000 1,491 — 325 — 
Total$200,579 $1,494 $— $325 $— 
Schedule of Derivative Instruments, Gain (Loss)
The following table summarizes the amounts reclassified from accumulated other comprehensive income related to the Company’s outstanding derivatives designated as cash flow hedges and associated income statement classification as of the first quarter of 2026 and 2025: 
 First Quarter Ended
(Thousands)
April 3, 2026
March 28, 2025
Hedging relationshipLine item
Foreign currency forward contractsNet sales$2 $(34)
Precious metal swapsCost of sales — 
Interest rate swapInterest expense - net(484)(763)
Total$(482)$(797)