v3.26.3
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 27, 2026
FAIR VALUE MEASUREMENTS [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
The following table presents assets and liabilities that were measured at fair value in the Consolidated Balance Sheets on a recurring basis as of September 27, 2026 and December 31, 2025:
Assets / Liabilities
Level 1Level 2Level 3Total
September 27, 2026:
Derivative Instruments:
Assets:
Foreign exchange contracts (1)$—$2,526$—$2,526
Deferred compensation derivatives (2)$—$486$—$486
Commodities futures and options (3)$12,341$—$—$12,341
Liabilities:
Foreign exchange contracts (1)$—$2,107$—$2,107
Commodities futures and options (3)$1,182$—$—$1,182
December 31, 2025:
Assets:
Foreign exchange contracts (1)$—$2,443$—$2,443
Commodities futures and options (3)$465$—$—$465
Liabilities:
Foreign exchange contracts (1)$—$3,095$—$3,095
Deferred compensation derivatives (3)— 775 — 775 
Commodities futures and options (3)$20,829$—$—$20,829
(1)The fair value of foreign currency forward exchange contracts is the difference between the contract and current market foreign currency exchange rates at the end of the period. We estimate the fair value of foreign currency forward exchange contracts on a quarterly basis by obtaining market quotes of spot and forward rates for contracts with similar terms, adjusted where necessary for maturity differences.
(2)The fair value of deferred compensation derivatives is based on quoted prices for market interest rates and a broad market equity index.
(3)The fair value of commodities futures and options contracts is based on quoted market prices.
Schedule of Fair Values and Carrying Values of Long-Term Debt The fair values and carrying values of long-term debt, including the current portion, were as follows:
Fair ValueCarrying Value
September 27, 2026December 31, 2025September 27, 2026December 31, 2025
Current portion of long-term debt$201,702$498,788$197,843$503,327
Long-term debt3,957,884 4,373,815 4,492,634 4,681,194 
Total$4,159,586 $4,872,603 $4,690,477 $5,184,521 
Business Combination, Contingent Consideration
The following table presents the liability activity for contingent consideration for the nine months ended September 27, 2026:
Total
Liability balance at December 31, 2025
$77,820 
Changes in fair value43,797 
Payments(19,087)
Liability balance at September 27, 2026
$102,530