v3.26.3
Investments
9 Months Ended
Sep. 26, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments
In the first fiscal quarter of 2025, LPH, which was an unconsolidated equity method investment of the Company, completed a transaction to sell all its outstanding equity to a third party. The Company received proceeds of $107.7 million and recognized a gain of $97.2 million in Investment (income) expense on the Consolidated Statements of Comprehensive Income.

In connection with the transaction, the Company reinvested $75.4 million in a newly formed entity, consisting primarily of preference shares and an approximately 18.75% non-controlling equity interest.

Substantially all of the reinvestment consists of preference shares, which are accounted for as held-to-maturity debt securities at amortized cost, with interest income recognized using the effective interest method. These securities are evaluated for credit losses on a quarterly basis under the current expected credit loss (“CECL”) methodology. The Company recorded an additional provision for credit losses of $0.5 million in Investment (income) expense on the Consolidated Statements of Comprehensive Income during the third fiscal quarter of 2026.

The Company’s 18.75% ownership interest in ordinary shares is accounted for using the equity method, and the Company’s share of investee income will be recorded in Investment (income) expense on the Consolidated Statements of Comprehensive Income.