Fair Value Measurements (Tables)

3 Months Ended

Mar. 28, 2026

Schedule of Estimated Fair Value of SWEN Put Option, Calculated Using Monte Carlo Model

The SWEN put option’s liability balance and activity were as follows:


	Financial Statement Line Item	Three Months Ended
		March 28, 2026		March 29, 2025
Balance, beginning of period	Other liabilities	$	10,083	$	4,196

Fair value measurement adjustment	Other income (expense), net	1,890		494
Foreign currency translation adjustment	Foreign currency translation adjustment	(209)		165
Balance, end of period	Other liabilities	$	11,764	$	4,855

Schedule of Estimated Fair Value of Put Option, Calculated Using Monte Carlo Model

Key inputs into the Monte Carlo simulation model used to determine the fair value of the SWEN put option at the fair value measurement date were as follows:


	March 28, 2026		December 31, 2025
Free cash flow to equity volatility(a)	58.0	%	54.0	%
Weighted average cost of capital	14.1	%	13.3	%
Risk-free interest rate	Term structure of U.S. Treasury and Euro Government Bond securities		Term structure of U.S. Treasury and Euro Government Bond securities

(a)Based on a peer group of companies in the same or a similar industry.

Fair Value Disclosure of Asset and Liability Not Measured at Fair Value

The fair value of the Company’s fixed rate debt is estimated using quoted market prices for debt with similar terms and maturities, which are Level 2 inputs, and was as follows:


	March 28, 2026		December 31, 2025
Carrying amount of fixed rate debt(a)	$	69,404	$	71,679
Fair value of fixed rate debt	$	70,799	$	73,426

(a)Excludes finance lease obligations.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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