v3.26.1
Accumulated Other Comprehensive Loss
3 Months Ended
Apr. 03, 2026
Equity [Abstract]  
Accumulated Other Comprehensive Loss

4. Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss were as follows (in thousands):

 

Total Accumulated

 

 

 

 

 

 

 

 

Other

 

 

Cumulative

 

 

Pension

 

 

Comprehensive

 

 

Translation

 

 

Liability

 

 

Loss

 

 

Adjustments

 

 

Adjustments

 

Balance at December 31, 2025

$

(3,004

)

 

$

3,472

 

 

$

(6,476

)

Other comprehensive income (loss)

 

(8,967

)

 

 

(5,914

)

 

 

(3,053

)

Amounts reclassified from accumulated other comprehensive loss(1)

 

253

 

 

 

 

 

 

253

 

Balance at April 3, 2026

$

(11,718

)

 

$

(2,442

)

 

$

(9,276

)

(1)The amounts reclassified from accumulated other comprehensive loss were included in other income (expense) in the consolidated statements of operations.

In January 2026, the Company entered into an approximately $26.7 million buy-in contract covering the benefit obligations of its frozen U.K. defined benefit pension plan. The transaction was funded from existing plan assets and did not result in a change to the plan’s projected benefit obligation. Under the buy-in contract, substantially all of the plan’s assets were used to purchase a group annuity contract, which is intended to reduce the plan’s exposure to investment volatility risks.

The Company expects the transaction to progress to a corresponding buy-out in the second half of 2027. A buy-out is expected to result in a pension settlement, and if a settlement is triggered, the Company would recognize a non-cash settlement charge in earnings for the remaining plan balances, including amounts recorded in accumulated other comprehensive income.