v3.26.1
Segment Information (Tables) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 04, 2026
Jun. 28, 2025
Jul. 04, 2026
Jun. 28, 2025
Notes To Financial Statements [Abstract]        
Schedule of Segment Reporting Information, by Segment    
The following table summarizes the results of operations for the company's business segments(1) (in thousands):
Commercial FoodserviceFood Processing
Corporate and Other(2)
Total
Three Months Ended July 4, 2026
Net sales$630,613 $244,936 $— $875,549 
Cost of sales382,742 158,199 (473)540,468 
Other segment items(3)
85,345 36,923 19,634 141,902 
Segment adjusted EBITDA(4)
162,526 49,814 (19,161)193,179 
Depreciation expense(5)
7,302 4,197 541 12,040 
Amortization expense(6)
10,558 2,541 625 13,724 
Net capital expenditures7,923 2,740 32 10,695 
Six Months Ended July 4, 2026
Net sales$1,246,149 $469,308 $— $1,715,457 
Cost of sales751,906 305,163 117 1,057,186 
Other segment items(3)
173,317 72,908 38,244 284,469 
Segment adjusted EBITDA(4)
320,926 91,237 (38,361)373,802 
Depreciation expense(5)
14,546 7,902 1,092 23,540 
Amortization expense(6)
21,181 5,262 1,251 27,694 
Net capital expenditures12,137 6,069 428 18,634 
Three Months Ended June 28, 2025
Net sales$580,605 $216,194 $— $796,799 
Cost of sales346,453 135,279 (1,035)480,697 
Other segment items(3)
77,561 35,066 21,839 134,466 
Segment adjusted EBITDA(4)
156,591 45,849 (20,804)181,636 
Depreciation expense(5)
6,911 3,095 699 10,705 
Amortization expense(6)
10,952 2,629 1,776 15,357 
Net capital expenditures8,464 6,432 (312)14,584 
Six Months Ended June 28, 2025
Net sales$1,143,322 $384,100 $— $1,527,422 
Cost of sales676,899 242,232 (389)918,742 
Other segment items(3)
158,402 65,956 41,201 265,559 
Segment adjusted EBITDA(4)
308,021 75,912 (40,812)343,121 
Depreciation expense(5)
13,541 5,986 1,524 21,051 
Amortization expense(6)
22,246 5,543 3,573 31,362 
Net capital expenditures15,203 25,723 138 41,064 
(1)Non-operating expenses are not allocated to the reportable segments. Non-operating expenses consist of interest expense and deferred financing amortization, net periodic pension benefit, income taxes, equity in losses of affiliate and other income and expense items outside of income from operations.
(2)Includes corporate and other general company operations.
(3)Other segment items for each reportable segment includes operating expenses, which primarily consist of selling, general and administrative expenses. Other segment items excludes the impact of depreciation, intangible amortization, restructuring, stock compensation and other items that neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance.
(4)Excludes the impacts mentioned in Other segment items.
(5)Includes depreciation on right of use assets.
(6)Includes amortization of deferred financing costs and, for the three and six month period ended June 28, 2025, Convertible Notes issuance costs.
A reconciliation of Adjusted EBITDA to Net earnings from continuing operations is as follows (in thousands):
Three Months EndedSix Months Ended
Jul 4, 2026Jun 28, 2025Jul 4, 2026Jun 28, 2025
Adjusted EBITDA$193,179 $181,636 $373,802 $343,121 
Less: Other segment operating expenses(1)
45,431 33,819 92,700 65,783 
Income from continuing operations147,748 147,817 281,102 277,338 
Interest expense and deferred financing amortization, net25,969 20,256 51,449 39,077 
Net periodic pension benefit(2,428)(1,601)(4,857)(3,117)
Other (income)/expense, net(2,177)2,128 (4,798)3,088 
Earnings from continuing operations before income taxes126,384 127,034 239,308 238,290 
Provision for income taxes43,275 25,368 70,915 51,561 
Earnings from continuing operations before equity in net losses of affiliate83,109 101,666 168,393 186,729 
Equity in losses of affiliate, net of tax(28,895)— (28,895)— 
Net earnings from continuing operations$54,214 $101,666 $139,498 $186,729 
(1)Consists of the impact of depreciation, intangible amortization, restructuring, stock compensation and other items that neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance.
The following table summarizes total assets by segment (in thousands):
Jul 4, 2026Jan 3, 2026
Commercial Foodservice$3,579,748 $3,569,952 
Food Processing1,375,327 1,438,433 
Corporate and Other(1)
405,578 1,306,781 
Total$5,360,653 $6,315,166 
(1)Includes corporate and other general company assets and assets held for sale - discontinued operations.
  
Segment Reporting, Other Segment Item, Amount $ 193,179 $ 181,636 $ 373,802 $ 343,121
Other Cost and Expense, Operating $ 45,431 $ 33,819 $ 92,700 $ 65,783
Schedule of Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country    
Jul 4, 2026Jan 3, 2026
United States and Canada$588,765 $407,979 
Asia37,057 36,994 
Europe and Middle East253,668 254,687 
Latin America12,069 12,022 
Total International302,794 303,703 
Total long-lived assets$891,559 $711,682