Investments

12 Months Ended

Dec. 27, 2025

Equity Method Investments and Joint Ventures [Abstract]


(10)			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 in the fiscal first quarter 2025 and recognized a gain of $97.2 million in Investment (income) expense on the Consolidated Statements of Comprehensive Income. The Company reinvested $75.4 million in a newly formed entity for an 18.75% non-controlling equity interest.

Substantially all of the reinvestment in the newly formed entity consisted of preference shares, which will be accounted for as held-to-maturity debt securities, recorded on an amortized cost basis. Interest income related to the securities will be recognized

using the effective interest method in Interest expense, net on the Consolidated Statements of Comprehensive Income. Held-to-maturity debt securities are evaluated for credit losses on a quarterly basis under CECL methodology with an allowance recorded within Investments on the Consolidated Balance Sheets for expected lifetime credit losses. When evaluating an investment for its current expected credit losses, the Company reviews factors such as credit ratings, term and macroeconomic trends, including current conditions and forecasts to the extent they are reasonable and supportable. In connection with the investment in preference shares during the fiscal first quarter 2025, the Company recorded a provision for credit losses of $4.7 million in Investment (income) expense on the Consolidated Statements of Comprehensive Income.

In addition, the Company received 18.75% of the outstanding common shares, which will be accounted for using the equity method of accounting, under which the Company’s share of the income of the investee will be recorded in Investment (income) expense on the Consolidated Statements of Comprehensive Income.