v3.26.1
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 28, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments The following are the terms of the remaining Swap Transactions:
NOTIONAL AMOUNTWEIGHTED AVERAGE FIXED INTEREST RATE (1)EFFECTIVE DATETERMINATION DATE
$100,000,000 3.37%December 31, 2025December 31, 2026
$200,000,000 3.18%March 31, 2026December 31, 2027
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(1)The weighted average fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the fair value and classification of the Company’s Swap Transactions as of the periods indicated:
(dollars in thousands)CONSOLIDATED BALANCE SHEETS CLASSIFICATIONJUNE 28, 2026DECEMBER 28, 2025
Interest rate swaps - assetOther current assets, net$1,495 $208 
Interest rate swaps - assetOther assets, net862 — 
Total fair value of derivative instruments - assets (1)$2,357 $208 
Interest rate swaps - liabilityAccrued and other current liabilities$— $330 
Interest rate swaps - liabilityOther long-term liabilities, net— 87 
Total fair value of derivative instruments - liabilities (1)$— $417 
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(1)See Note 8 - Stockholders’ Equity for interest rate swaps impact on AOCI and Note 11 - Fair Value Measurements for fair value discussion of the interest rate swaps.
Schedule of Foreign Exchange Contracts, Statement of Operations
The following table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive Income for the periods indicated:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATIONTHIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDED
(dollars in thousands)JUNE 29, 2025JUNE 29, 2025
Loss on foreign currency forward contracts (1)General and administrative$8,461 $18,711 
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(1)The loss on foreign currency forward contracts, which includes costs in connection with the forward contracts, is partially offset within General and administrative expense by foreign currency exchange gains of $6.2 million and $14.2 million for the thirteen and twenty-six weeks ended June 29, 2025, respectively, related to the installment receivable from the Brazil Sale Transaction.