v3.26.1
Derivatives (Tables)
 6 Months Ended
Jul. 04, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
As of July 4, 2026, the Company had the following designated and non-designated outstanding forward and option contract amounts that were entered into to hedge foreign currency transactions in currencies other than the functional currency and forecasted transactions in currencies other than the functional currency (in thousands):

Functional CurrencyContract Currency
TypeAmountTypeAmount
Brazilian real614,959 Euro95,937 
Brazilian real1,733,663 U.S. dollar311,588 
Euro51,787 U.S. dollar59,452 
Euro119,452 Polish zloty512,300 
Euro10,891 Japanese yen2,006,668 
Euro43,010 Chinese renminbi335,170 
Euro43,744 Australian dollar71,950 
Euro3,189 British pound2,755 
Polish zloty51,692 Euro12,038 
Japanese yen133,467 U.S. dollar826 
U.S. dollar424 Japanese yen68,538 
Australian dollar382 U.S. dollar263 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The table below summarizes the effect of derivatives not designated as hedges on the Company’s consolidated statements of operations for the three and six months ended July 4, 2026 and June 28, 2025 (in thousands):

Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
Three Months EndedSix Months Ended
Derivatives not designated as hedging instrumentsLocationJuly 4,
2026		June 28,
2025		July 4,
2026		June 28,
2025
Foreign exchangeForeign currency loss/(gain)$371 $(549)$2,384 $(836)
Foreign exchange
Net sales
48 (517)183 (584)
Foreign exchange
Cost of sales and operating expenses
(53)132 (140)192 
Foreign exchangeSelling, general and administrative expenses(3,821)(6,978)(13,433)(14,167)
Interest rate swapInterest expense— (961)— (961)
Corn options and futures
Cost of sales and operating expenses
(888)(380)(336)(1,981)
Soybean meal
Net sales
775 221 848 221 
Soybean oil
Net sales
764 (158)(2,729)(158)
Other commoditiesSelling, general and administrative expenses(1,646)(424)(3,364)(701)
Total$(4,450)$(9,614)$(16,587)$(18,975)