| Schedule of Comprehensive Income (Loss) |
The components of other comprehensive income/(loss) and the related tax impacts for the three and six months ended July 4, 2026 and June 28, 2025 are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Before-Tax | Tax (Expense) | Net-of-Tax | | Amount | or Benefit | Amount | | July 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | | Defined benefit pension plans | | | | | | | | Actuarial gain/(loss) recognized | $ | — | | $ | 50 | | $ | — | | $ | (12) | | $ | — | | $ | 38 | | | Amortization of prior service (cost)/benefit | 11 | | (2) | | (3) | | 1 | | 8 | | (1) | | | Amortization of actuarial gain/(loss) | (97) | | 207 | | 26 | | (49) | | (71) | | 158 | | | Amortization of settlement | — | | 5,854 | | — | | (1,423) | | — | | 4,431 | | | Total defined benefit pension plans | (86) | | 6,109 | | 23 | | (1,483) | | (63) | | 4,626 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corn option derivatives | | | | | | | | Reclassified to earnings | — | | 18 | | — | | (5) | | — | | 13 | | | Activity recognized in other comprehensive income/(loss) | — | | (4) | | — | | 2 | | — | | (2) | | | Total corn option derivatives | — | | 14 | | — | | (3) | | — | | 11 | | | Heating oil derivatives at DGD (Note 16) | | | | | | | | Activity recognized in other comprehensive income/(loss) | 70,841 | | (1,218) | | (17,214) | | 296 | | 53,627 | | (922) | | | Total heating oil derivatives | 70,841 | | (1,218) | | (17,214) | | 296 | | 53,627 | | (922) | | | Interest swap derivatives | | | | | | | | Reclassified to earnings | 72 | | (4,476) | | (18) | | 1,087 | | 54 | | (3,389) | | | Activity recognized in other comprehensive income/(loss) | 831 | | 424 | | (201) | | (102) | | 630 | | 322 | | | Total interest swap derivatives | 903 | | (4,052) | | (219) | | 985 | | 684 | | (3,067) | | | Foreign exchange derivatives | | | | | | | | Reclassified to earnings | (9,953) | | (851) | | (361) | | 291 | | (10,314) | | (560) | | | Activity recognized in other comprehensive income/(loss) | 3,035 | | 19,063 | | 2,824 | | (6,469) | | 5,859 | | 12,594 | | | Total foreign exchange derivatives | (6,918) | | 18,212 | | 2,463 | | (6,178) | | (4,455) | | 12,034 | | | | | | | | | | Foreign currency translation | (1,969) | | 135,013 | | 483 | | (3,932) | | (1,486) | | 131,081 | | | Other comprehensive income/(loss) | $ | 62,771 | | $ | 154,078 | | $ | (14,464) | | $ | (10,315) | | $ | 48,307 | | $ | 143,763 | |
| | | | | | | | | | | | | | | | | | | | | | Six Months Ended | | Before-Tax | Tax (Expense) | Net-of-Tax | | Amount | or Benefit | Amount | | July 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | | Defined benefit pension plans | | | | | | | | Actuarial gain/(loss) recognized | $ | — | | $ | 50 | | $ | — | | $ | (12) | | $ | — | | $ | 38 | | | Amortization of prior service (cost)/benefit | 21 | | (4) | | (6) | | 2 | | 15 | | (2) | | | Amortization of actuarial gain/(loss) | (194) | | 456 | | 53 | | (108) | | (141) | | 348 | | | Amortization of settlement | — | | 5,854 | | — | | (1,423) | | — | | 4,431 | | | Total defined benefit pension plans | (173) | | 6,356 | | 47 | | (1,541) | | (126) | | 4,815 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corn option derivatives | | | | | | | | Reclassified to earnings | — | | 385 | | — | | (94) | | — | | 291 | | | Activity recognized in other comprehensive income/(loss) | — | | (257) | | — | | 63 | | — | | (194) | | | Total corn option derivatives | — | | 128 | | — | | (31) | | — | | 97 | | | Heating oil derivatives at DGD (Note 16) | | | | | | | | Activity recognized in other comprehensive income/(loss) | 6,547 | | 182 | | (1,591) | | (45) | | 4,956 | | 137 | | | Total heating oil derivatives | 6,547 | | 182 | | (1,591) | | (45) | | 4,956 | | 137 | | | Interest swap derivatives | | | | | | | | Reclassified to earnings | 1,300 | | 13,217 | | (316) | | (3,212) | | 984 | | 10,005 | | | Activity recognized in other comprehensive income/(loss) | 1,099 | | (18,900) | | (267) | | 4,593 | | 832 | | (14,307) | | | Total interest swap derivatives | 2,399 | | (5,683) | | (583) | | 1,381 | | 1,816 | | (4,302) | | | Foreign exchange derivatives | | | | | | | | Reclassified to earnings | (14,146) | | (4,513) | | 1,019 | | 1,523 | | (13,127) | | (2,990) | | | Activity recognized in other comprehensive income/(loss) | 14,868 | | 52,222 | | (1,071) | | (17,624) | | 13,797 | | 34,598 | | | Total foreign exchange derivatives | 722 | | 47,709 | | (52) | | (16,101) | | 670 | | 31,608 | | | | | | | | | | Foreign currency translation | 58,301 | | 256,107 | | 1,393 | | (5,694) | | 59,694 | | 250,413 | | | | | | | | | | Other comprehensive income/(loss) | $ | 67,796 | | $ | 304,799 | | $ | (786) | | $ | (22,031) | | $ | 67,010 | | $ | 282,768 | |
|
| Reclassification out of Accumulated Other Comprehensive Income (Loss) |
The following table presents the amounts reclassified out of each component of other comprehensive income/(loss), net of tax, for the three and six months ended July 4, 2026 and June 28, 2025 as follows (in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended | Six Months Ended | | | July 4, 2026 | June 28, 2025 | July 4, 2026 | June 28, 2025 | Statement of Operations Classification | | Derivative instruments | | | | | | | | | | | | | Foreign exchange contracts | $ | 9,953 | | $ | 851 | | 14,146 | | 4,513 | | Net sales | | | | | | | | Corn option derivatives | — | | (18) | | — | | (385) | | Cost of sales and operating expenses | | Interest swaps | (72) | | 4,476 | | (1,300) | | (13,217) | | Foreign currency gain/(loss) and interest expense | | 9,881 | | 5,309 | | 12,846 | | (9,089) | | Total before tax | | 379 | | (1,373) | | (703) | | 1,783 | | Income taxes | | 10,260 | | 3,936 | | 12,143 | | (7,306) | | Net of tax | | Defined benefit pension plans | | | | | | | Amortization of prior service cost | $ | (11) | | $ | 2 | | $ | (21) | | $ | 4 | | (a) | | Amortization of actuarial loss | 97 | | (207) | | 194 | | (456) | | (a) | | Amortization of settlement | — | | (5,854) | | — | | (5,854) | | (a) | | 86 | | (6,059) | | 173 | | (6,306) | | Total before tax | | (23) | | 1,471 | | (47) | | 1,529 | | Income taxes | | 63 | | (4,588) | | 126 | | (4,777) | | Net of tax | | Total reclassifications | $ | 10,323 | | $ | (652) | | $ | 12,269 | | $ | (12,083) | | Net of tax |
(a)These items are included in the computation of net periodic pension cost. See Note 15 (Employee Benefit Plans) to the Company’s Consolidated Financial Statements included herein for additional information.
|
| Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table presents changes in each component of accumulated other comprehensive income/(loss) as of July 4, 2026 as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | Six Months Ended July 4, 2026 | | | Foreign | | | Defined | | | | Currency | Derivative | | Benefit | | | | Translation | Instruments | | Pension Plans | Total | | Accumulated Other Comprehensive income/ (loss) January 3, 2026, attributable to Darling, net of tax | | $ | (352,086) | | $ | 15,184 | | | $ | (2,287) | | $ | (339,189) | | | Other comprehensive income before reclassifications | | 59,694 | | 19,585 | | | — | | 79,279 | | | Amounts reclassified from accumulated other comprehensive income/ (loss) | | — | | (12,143) | | | (126) | | (12,269) | | | | | | | | | | Net current-period other comprehensive income/(loss) | | 59,694 | | 7,442 | | | (126) | | 67,010 | | Noncontrolling interest | | 2,957 | | — | | | — | | 2,957 | | | Accumulated Other Comprehensive income/ (loss) July 4, 2026, attributable to Darling, net of tax | | $ | (295,349) | | $ | 22,626 | | | $ | (2,413) | | $ | (275,136) | |
|