v3.26.1
Derivatives and Hedging Transactions (Tables)
 6 Months Ended
Jun. 27, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Effect of Derivative Instruments in the Statement of Financial Position and Operations and Comprehensive Income (Loss)
The following table summarizes the gross fair values and location on the unaudited condensed consolidated balance sheets of the Company’s significant derivative instruments (in thousands):
Other Current AssetsOther Non-Current AssetsAccrued Expenses and Other LiabilitiesOther Current AssetsOther Non-Current AssetsAccrued Expenses and Other LiabilitiesOther Non-Current Liabilities
June 27, 2026December 31, 2025
Interest rate swaps$3,901 $2,566 $— $— $4,680 $122 $180 
Foreign exchange contracts974 — 190 129 — 884 — 
Net investment hedge1,596 — — — — — — 
Total$6,471 $2,566 $190 $129 $4,680 $1,006 $180 
The following table presents the effects of derivative instruments by contract type in accumulated other comprehensive (loss) income (“AOCI”) in the Company’s unaudited condensed consolidated financial statements (in thousands):
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Three Months EndedThree Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Interest rate swaps (3)
$1,177 $(767)$1,515 $2,398 Interest expense, net
Net investment hedge1,596 — 125 — N/A
Total$2,773 $(767)$1,640 $2,398 
(1) The tax expense and benefit, respectively, on the gain (loss) recognized in AOCI for the three months ended June 27, 2026 and June 28, 2025 was $0.6 million and $0.2 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the three months ended June 27, 2026 and June 28, 2025 was $0.4 million and $0.6 million, respectively.
(3) The Company estimates that $5.0 million of unrealized gains will be reclassified from AOCI into earnings in the next 12 months.
Gain (Loss) Recognized in AOCI (1)
Gain (Loss) Reclassified From AOCI to Earnings (2)
Location of Gain (Loss) Reclassified from AOCI into Earnings
Six Months EndedSix Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Interest rate swaps$4,968 $(4,227)$2,879 $5,188 Interest expense, net
Net investment hedge1,596 — 125 — N/A
Total$6,564 $(4,227)$3,004 $5,188 
(1) The tax expense and benefit, respectively, on the gain (loss) recognized in AOCI for the six months ended June 27, 2026 and June 28, 2025 was $1.5 million and $1.1 million, respectively.
(2) The tax expense on the gain reclassified from AOCI to earnings for the six months ended June 27, 2026 and June 28, 2025 was $0.7 million and $1.3 million, respectively.