Financial Instruments Measured at Fair Value (Tables)
|
6 Months Ended |
Jul. 04, 2026 |
|---|
| Financial Instruments Measured at Fair Value |
|
| Schedule of assets (liabilities) measured at fair value on a recurring basis |
The following table presents assets measured at fair value on a recurring basis at July 4, 2026: | | | | | | | | | | | | | | | (thousands) | | Balance Sheet Location | | Level 1 | | Level 2 | | Level 3 | | Total | Cash equivalents (a) | | Cash and cash equivalents | | $ | 17,099 | | $ | — | | $ | — | | $ | 17,099 | Equity investments (b) | | Other assets | | | 42,893 | | | — | | | — | | | 42,893 | Foreign exchange contracts designated as net investment hedges | | Other assets / other current assets | | | — | | | 20,095 | | | — | | | 20,095 | | | | | $ | 59,992 | | $ | 20,095 | | $ | — | | $ | 80,087 |
The following table presents assets measured at fair value on a recurring basis at December 31, 2025: | | | | | | | | | | | | | | | (thousands) | | Balance Sheet Location | | Level 1 | | Level 2 | | Level 3 | | Total | Cash equivalents (a) | | Cash and cash equivalents | | $ | 11,412 | | $ | — | | $ | — | | $ | 11,412 | Equity investments (b) | | Other assets | | | 41,787 | | | — | | | — | | | 41,787 | Foreign exchange contracts designated as net investment hedges | | Other assets / other current assets | | | — | | | 16,816 | | | — | | | 16,816 | | | | | $ | 53,199 | | $ | 16,816 | | $ | — | | $ | 70,015 |
| (a) | Cash equivalents include highly liquid investments with an original maturity of less than three months. |
| (b) | The company has an approximately 9.0% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. The company recorded unrealized gains of $7.9 million and $4.9 million for the second quarter and first six months of 2026, respectively, and $0.7 million and $0.5 million for the second quarter and first six months 2025, respectively, on equity securities held at the end of the quarter. |
|
| Schedule of effects of derivative instruments on the company's consolidated statements of operations and other comprehensive income |
| | | | | | | | | | | | | | | | | | | Quarter Ended | | Six Months Ended | | | | | July 4, | | June 28, | | July 4, | | June 28, | (thousands) | | Income Statement Line | | 2026 | | 2025 | | 2026 | | 2025 | Gain recognized in Income | | | | | | | | | | | | | | | Foreign exchange contracts, net investment hedge (a) | | Interest Expense | | $ | 671 | | $ | 671 | | $ | 1,342 | | $ | 2,088 | Interest rate swaps, cash flow hedge (b) | | Interest Expense | | | 590 | | | 557 | | | 1,171 | | | 1,107 | | | | | $ | 1,261 | | $ | 1,228 | | $ | 2,513 | | $ | 3,195 | Gain (loss) Recognized in Other Comprehensive Income before reclassifications, net of tax | | | | | | | | | | | | | | | Foreign exchange contracts, net investment hedge (c) | | | | $ | 409 | | $ | (5,694) | | $ | 2,492 | | $ | (10,567) | | | | | $ | 409 | | $ | (5,694) | | $ | 2,492 | | $ | (10,567) | | | | | | | | | | | | | | | |
| (a) | Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from CTA to “Interest and other financing expense, net.” |
| (b) | Represents amortization of derivative gains and losses on the termination of interest rate swaps. |
| (c) | Includes derivative (losses) gains excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income, net of tax, of ($0.2) million and $0.1 million for the second quarter and first six months of 2026, respectively, and ($13.0) million and ($10.8) million for the second quarter and first six months of 2025, respectively. |
|
| Foreign exchange contract | Designated as hedging instrument |
|
| Financial Instruments Measured at Fair Value |
|
| Schedule of description of types of hedging instruments used |
| | | | | | | | | Notional Amount (thousands) | Maturity Date | | July 4, 2026 | | December 31, 2025 | January 2028 | | EUR | 100,000 | | EUR | 100,000 | | | | | | | |
|