v3.25.4

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables) | 12 Months Ended
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Dec. 28, 2025
Retirement Benefits [Abstract] |
Schedule of Defined Benefit Plan Obligations and Assets | The change in benefit obligation, change in fair value of plan assets, funded status and amounts recognized in the Consolidated Balance Sheets for these plans were as follows:
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Change in projected benefit obligation | (In thousands)
Projected benefit obligation, beginning of year | $ | 113,730 |  |  | $ | 237,508 |  |  | $ | 1,144 |  |  | $ | 1,160 |
Interest cost | 6,263 |  |  | 10,764 |  |  | 53 |  |  | 53 |
Actuarial (gains) losses | (2,808) |  |  | (20,783) |  |  | 4 |  |  | (39) |
Benefits paid | (7,838) |  |  | (12,671) |  |  | (38) |  |  | (30) |
Curtailments and settlements | 1,611 |  |  | (99,635) |  |  | — |  |  | — |
Currency translation (gain) loss | 8,187 |  |  | (1,453) |  |  | — |  |  | — |
Projected benefit obligation, end of year | $ | 119,145 |  |  | $ | 113,730 |  |  | $ | 1,163 |  |  | $ | 1,144 |
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Change in plan assets | (In thousands)
Fair value of plan assets, beginning of year | $ | 123,926 |  |  | $ | 225,451 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | 5,256 |  |  | 5,842 |  |  | — |  |  | — |
Contributions by employer | (405) |  |  | 6,831 |  |  | 38 |  |  | 30 |
Benefits paid | (7,838) |  |  | (12,671) |  |  | (38) |  |  | (30) |
Curtailments and settlements | 1,611 |  |  | (99,635) |  |  | — |  |  | — |
Expenses paid from assets | (413) |  |  | (320) |  |  | — |  |  | — |
Currency translation gain (loss) | 8,900 |  |  | (1,572) |  |  | — |  |  | — |
Fair value of plan assets, end of year | $ | 131,037 |  |  | $ | 123,926 |  |  | $ | — |  |  | $ | — |
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Funded status | (In thousands)
Overfunded (unfunded) benefit obligation, end of year | $ | 11,892 |  |  | $ | 10,196 |  |  | $ | (1,163) |  |  | $ | (1,144) |
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Amounts recognized in the Consolidated Balance Sheets as of end of year | (In thousands)
Long-term assets | $ | 13,531 |  |  | $ | 11,829 |  |  | $ | — |  |  | $ | — |
Total assets | $ | 13,531 |  |  | $ | 11,829 |  |  | $ | — |  |  | $ | — |
Current liabilities | $ | (218) |  |  | $ | (205) |  |  | $ | (215) |  |  | $ | (201) |
Long-term liabilities | (1,421) |  |  | (1,428) |  |  | (948) |  |  | (943) |
Total liabilities | $ | (1,639) |  |  | $ | (1,633) |  |  | $ | (1,163) |  |  | $ | (1,144) |
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2025 |  | 2024
Amounts recognized in accumulated other comprehensive loss at end of year | (In thousands)
Net actuarial loss (gain) | $ | 3,834 |  |  | $ | 2,063 |  |  | $ | (102) |  |  | $ | (126) |
Schedule of Net Periodic Benefit Costs | Net benefit costs include the following components:
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
| (In thousands)
Interest cost | $ | 6,263 |  |  | $ | 10,764 |  |  | $ | 11,322 |  |  | $ | 53 |  |  | $ | 53 |  |  | $ | 54 |
Estimated return on plan assets | (8,040) |  |  | (11,106) |  |  | (10,393) |  |  | — |  |  | — |  |  | — |
Settlement loss (gain) | (1,611) |  |  | 21,714 |  |  | — |  |  | — |  |  | — |  |  | — |
Expenses paid from assets | 412 |  |  | 320 |  |  | 327 |  |  | — |  |  | — |  |  | — |
Amortization of net loss (gain) | (97) |  |  | 798 |  |  | 1,048 |  |  | (2) |  |  | — |  |  | — |
Amortization of past service cost | 18 |  |  | 18 |  |  | 17 |  |  | — |  |  | — |  |  | — |
Net cost (income) | $ | (3,055) |  |  | $ | 22,508 |  |  | $ | 2,321 |  |  | $ | 51 |  |  | $ | 53 |  |  | $ | 54 |
Schedule of Economic Assumptions, and Impact of Change in Discount Rate on Benefit Obligation | The weighted average assumptions used in determining pension and other postretirement plan information were as follows:
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Benefit obligation |  |  |  |  |  |  |  |  |  |  |
Discount rate | 5.49 | % |  | 4.68 | % |  | 4.81 | % |  | 4.67 | % |  | 5.30 | % |  | 5.06 | %
Net pension and other postretirement cost |  |  |  |  |  |  |  |  |  |  |
Discount rate | 5.50 | % |  | 4.56 | % |  | 4.93 | % |  | 5.30 | % |  | 5.06 | % |  | 5.16 | %
Expected return on plan assets | 6.06 | % |  | 6.17 | % |  | 4.95 | % |  | NA |  | NA |  | NA
The sensitivity of the projected benefit obligation for pension benefits to changes in the discount rate is set out below. The impact of a change in the discount rate of 0.25% on the projected benefit obligation for other benefits is immaterial. This sensitivity analysis is based on changing one assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to variations in significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as that for calculating the liability recognized in the Consolidated Balance Sheets.
| Increase in Discount Rate of 0.25% |  | Decrease in Discount Rate of 0.25%
| (In thousands)
Impact on projected benefit obligation for pension benefits | $ | (3,189) |  |  | $ | 3,358 |
Schedule of Plan Asset Allocations | The following table reflects the pension plans’ actual asset allocations:
| 2025 |  | 2024
Cash and cash equivalents | 7 | % |  | 21 | %
Pooled separate accounts and common collective trust funds for the GK Pension Plan(a): |  |  |
Fixed income securities | — | % |  | 3 | %
Pooled separate accounts for the U.K. Plans(a): |  |  |
Equity securities | 23 | % |  | 30 | %
Fixed income funds | 31 | % |  | 24 | %
Liability driven investments | 30 | % |  | 10 | %
Real estate | 9 | % |  | 12 | %
Total assets | 100 | % |  | 100 | %
(a)Pooled separate accounts (“PSAs”) and common collective trust funds (“CCTs”) are two of the most common types of alternative vehicles in which benefit plans invest. These investments are pooled funds that look like mutual funds, but they are not registered with the SEC. Often times, they will be invested in mutual funds or other marketable securities, but the unit price generally will be different from the value of the underlying securities because the fund may also hold cash for liquidity purposes, and the fees imposed by the fund are deducted from the fund value rather than charged separately to investors. Some PSAs and CCTs have no restrictions as to their investment strategy and can invest in riskier investments, such as derivatives, hedge funds, private equity funds, or similar investments.
Schedule of Fair Value Assumptions of Plan Assets | The fair value measurements of plan assets fell into the following levels of the fair value hierarchy as of December 28, 2025 and December 29, 2024:
| 2025 |  | 2024
| Level 1(a) |  | Level 2(b) |  | Level 3(c) |  | Total |  | Level 1(a) |  | Level 2(b) |  | Level 3(c) |  | Total
| (In thousands)
Cash and cash equivalents | $ | 9,448 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,448 |  |  | $ | 26,479 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,479 |
PSAs for the Union Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds(f) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 70 |  |  | — |  |  | 70 |
PSAs and CCTs for the GK Pension Plan: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds(f) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,152 |  |  | — |  |  | 3,152 |
PSAs for the Europe Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Large U.S. equity funds(d) | — |  |  | 13,279 |  |  | — |  |  | 13,279 |  |  | — |  |  | 11,761 |  |  | — |  |  | 11,761 |
International equity funds(e) | — |  |  | 17,157 |  |  | — |  |  | 17,157 |  |  | — |  |  | 25,575 |  |  | — |  |  | 25,575 |
Fixed income funds(f) | — |  |  | 40,562 |  |  | — |  |  | 40,562 |  |  | — |  |  | 29,715 |  |  | — |  |  | 29,715 |
Real estate(g) | — |  |  | 11,464 |  |  | — |  |  | 11,464 |  |  | — |  |  | 15,442 |  |  | — |  |  | 15,442 |
Liability driven investments(h) | — |  |  | 39,127 |  |  | — |  |  | 39,127 |  |  | — |  |  | 11,732 |  |  | — |  |  | 11,732 |
Total assets | $ | 9,448 |  |  | $ | 121,589 |  |  | $ | — |  |  | $ | 131,037 |  |  | $ | 26,479 |  |  | $ | 97,447 |  |  | $ | — |  |  | $ | 123,926 |
(a)Unadjusted quoted prices in active markets for identical assets are used to determine fair value. (b)Quoted prices in active markets for similar assets and inputs that are observable for the asset are used to determine fair value. (c)Unobservable inputs, such as discounted cash flow models or valuations, are used to determine fair value. (d)This category is comprised of investment options that invest in stocks, or shares of ownership, in large, well-established U.S. companies. These investment options typically carry more risk than fixed income options but have the potential for higher returns over longer time periods. (e)This category is comprised of investment options that invest in stocks, or shares of ownership, in companies with their principal place of business or office outside of the U.S. (f)This category is comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and non-U.S. entities). These investment options typically carry more risk than short-term fixed income investment options, but less overall risk than equities. (g)This category is comprised of investment options that invest in real estate investment trusts or private equity pools that own real estate. These long-term investments are primarily in office buildings, industrial parks, apartments or retail complexes. These investment options typically carry more risk, including liquidity risk, than fixed income investment options. (h)This category is comprised of investments that seek to ensure availability of funds to cover current and future liabilities. These investments are typically focused on both the assets and liabilities of the plan.
Schedule of Benefit Payments | The following table reflects the benefits as of December 28, 2025 expected to be paid through 2035 from the Company’s pension and other postretirement plans. The Company’s pension plans are primarily funded plans. Therefore, anticipated benefits with respect to these plans will come primarily from the trusts established for these plans. The Company’s other postretirement plans are unfunded. Therefore, anticipated benefits with respect to these plans will come from the Company’s own assets.
| Pension Benefits |  | Other Benefits
| (In thousands)
2026 | $ | 8,000 |  |  | $ | 215 |
2027 | 8,162 |  |  | 191 |
2028 | 8,407 |  |  | 169 |
2029 | 8,509 |  |  | 148 |
2030 | 8,542 |  |  | 128 |
2031-2035 | 43,412 |  |  | 403 |
Total | $ | 85,032 |  |  | $ | 1,254 |
Schedule of Unrecognized Benefit Amounts in Accumulated Other Comprehensive Loss | The amounts in accumulated other comprehensive loss that were not recognized as components of net periodic benefits cost and the changes in those amounts are as follows:
| Pension Benefits |  | Other Benefits
| 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
| (In thousands)
Net actuarial loss, beginning of year | $ | 2,063 |  |  | $ | 40,487 |  |  | $ | 48,121 |  |  | $ | (126) |  |  | $ | (87) |  |  | $ | (66) |
Amortization | 79 |  |  | (816) |  |  | (1,065) |  |  | 2 |  |  | — |  |  | — |
Realized loss (gain) on settlement | 1,611 |  |  | (21,714) |  |  | — |  |  | — |  |  | — |  |  | — |
Actuarial loss (gain) | (2,809) |  |  | (20,782) |  |  | 238 |  |  | 4 |  |  | (39) |  |  | (21) |
Asset loss (gain) | 2,714 |  |  | 5,264 |  |  | (7,317) |  |  | 18 |  |  | — |  |  | — |
Currency translation loss (gain) | 176 |  |  | (376) |  |  | 510 |  |  | — |  |  | — |  |  | — |
Net actuarial loss (gain), end of year | $ | 3,834 |  |  | $ | 2,063 |  |  | $ | 40,487 |  |  | $ | (102) |  |  | $ | (126) |  |  | $ | (87) |

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