v3.26.1
Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 28, 2026
Fair Value Disclosures [Abstract]  
Schedule of Derivative Instruments The trade entry date, maturity date, weighted-average floor, and weighted-average ceiling for each collar trade was as follows:
Trade Entry DateTrade Maturity DateWeighted-Average FloorWeighted-Average Ceiling
July 3, 2024August 29, 202518.000019.4350
August 5, 2024September 29, 202519.655021.0000
September 3, 2024November 3, 202520.082021.7571
September 30, 2024November 26, 202519.870021.3650
November 4, 2024January 2, 202620.120021.6900
December 3, 2024February 2, 202620.425022.0377
January 2, 2025March 2, 202620.800021.9082
February 6, 2025March 30, 202620.530022.0000
April 9, 2025June 1, 202620.970022.2355
May 1, 2025June 29, 202619.694020.9700
June 4, 2025August 3, 202619.310020.3437
July 2, 2025August 31, 202618.850019.8025
August 5, 2025September 29, 202618.850019.8000
September 2, 2025November 2, 202618.810019.8347
September 30, 2025November 30, 202618.420019.3700
November 4, 2025January 4, 202718.720019.7000
November 26, 2025February 2, 202718.430019.4852
January 6, 2026March 1, 202718.062018.9250
February 4, 2026April 5, 202717.417518.2500
March 4, 2026May 3, 202717.672018.4060
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of March 28, 2026 and December 27, 2025, the fair values of the Company's derivative financial instruments and their classifications on the Condensed Consolidated Balance Sheets were as follows:


(in thousands)		Condensed Consolidated Balance Sheets ClassificationMarch 28, 2026December 27, 2025
Derivatives designated as hedging instruments
Interest rate swap agreement:
Designated as cash flow hedgePrepaid expenses and other current assets$1,714 $1,162 
Other long-term assets618 382 
Zero cost collar agreement:
Designated as cash flow hedgePrepaid expenses and other current assets$3,602 $6,816 
Other long-term assets— 3 
Accrued liabilities777 — 
Other long-term liabilities16 — 
Cross-currency swap agreement:
Designated as net investment hedgePrepaid expenses and other current assets$757 $— 
Other long-term assets1,518 — 
Schedule of Derivative Instruments Pre-tax Gains
The pre-tax (gains) losses recognized on derivative financial instruments in the Condensed Consolidated Statements of Operations for the three months ended March 28, 2026 and March 29, 2025 were as follows:

Three Months Ended
(in thousands)Classification of (Gains) Losses Recognized in the Condensed Consolidated Statements of OperationsMarch 28, 2026March 29, 2025
Derivatives designated as cash flow hedges
Interest rate swap agreementInterest expense$(464)$(788)
Zero cost collar agreementCost of sales(4,078)1,480 
Zero cost collar agreementSelling, general, and administrative expenses(336)121 
Derivatives designated as net investment hedges
Cross-currency swap agreementInterest expense$(97)$— 

The pre-tax (gains) losses recognized on derivative financial instruments in the Condensed Consolidated Statements of Comprehensive Income for the three months ended March 28, 2026 and March 29, 2025 were as follows:

 Three Months Ended
(in thousands)March 28, 2026March 29, 2025
Derivatives designated as cash flow hedges
Interest rate swap agreement$(788)$2,318 
Zero cost collar agreement4,031 (2,442)
Derivatives designated as net investment hedges
Cross-currency swap agreement$(2,275)$— 
Schedule of Fair Value, Assets Measured on Recurring Basis
The following table presents assets measured at fair value by classification within the fair value hierarchy as of March 28, 2026:
 Fair Value Measurements Using 
(in thousands)Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Cash equivalents$430,054 $— $— $430,054 
Investments in equity securities7,396 — — 7,396 
Mutual funds26,150 — — 26,150 
   Total $463,600 $— $— $463,600 

The following table presents assets measured at fair value by classification within the fair value hierarchy as of December 27, 2025: 
 Fair Value Measurements Using 
(in thousands)Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Cash equivalents$465,915 $— $— $465,915 
Investments in equity securities7,676 — — 7,676 
Mutual funds25,730 — — 25,730 
   Total$499,321 $— $— $499,321 
Schedule of Fair Value, by Balance Sheet Grouping
The carrying value and estimated fair values of the Company’s Euro Senior Notes, Series B and USD Senior Notes, Series B, as of March 28, 2026 and December 27, 2025 were as follows:
 March 28, 2026December 27, 2025
(in thousands)Carrying
Value		Estimated
Fair Value		Carrying
Value		Estimated
Fair Value
Euro Senior Notes, Series B due 2028$109,545 $103,634 $111,977 $106,908 
USD Senior Notes, Series B due 2027100,000 99,132 100,000 99,152 
USD Senior Notes, Series B due 2030125,000 119,169 125,000 120,076 
USD Senior Notes, due 2032100,000 94,340 100,000 95,587