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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 30, 2023
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of Fair Value of Derivative Instruments | The fair value of derivative instruments as of December 30, 2023 and December 31, 2022 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 30, | ​ | December 31,
Derivatives designated as hedging instruments: |  | Balance Sheets location | ​ | 2023 | ​ | 2022
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 2,520 | ​ | $ | —
Commodity contracts | ​ | Other accrued expenses | ​ | ​ | (1,586) | ​ | ​ | (3,854)
Foreign currency forward contracts |  | Prepaid expenses and other current assets | ​ | ​ | — |  | ​ | 83
Cross currency swap contracts |  | Prepaid expenses and other current assets | ​ | ​ | 1,938 |  | ​ | 5,385
Cross currency swap contracts |  | Other accrued expenses | ​ | ​ | (12) |  | ​ | (210)
​ | ​ | ​ | ​ | $ | 2,860 | ​ | $ | 1,404
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 30, | ​ | December 31,
Derivatives designated as hedging instruments: |  | Balance Sheets location | ​ | 2023 | ​ | 2022
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 2,520 | ​ | $ | —
Commodity contracts | ​ | Other accrued expenses | ​ | ​ | (1,586) | ​ | ​ | (3,854)
Foreign currency forward contracts |  | Prepaid expenses and other current assets | ​ | ​ | — |  | ​ | 83
Cross currency swap contracts |  | Prepaid expenses and other current assets | ​ | ​ | 1,938 |  | ​ | 5,385
Cross currency swap contracts |  | Other accrued expenses | ​ | ​ | (12) |  | ​ | (210)
​ | ​ | ​ | ​ | $ | 2,860 | ​ | $ | 1,404
Cash Flow Hedging |
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of notional amounts of outstanding derivative |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Notional | ​ | Total | ​ | ​
Commodity Type | ​ | Amount | ​ | Purchase Quantity | ​ | Maturity Dates
Hot rolled steel coil | ​ | $ | 7,844 | ​ | 8,500 short tons |  | December 2023 to April 2024
Natural gas | ​ | ​ | 4,272 | ​ | 960,475 MMBtu | ​ | January 2024 to October 2025
Diesel fuel | ​ | ​ | 542 | ​ | 1,890,000 gallons | ​ | January 2024 to September 2024
Net Investment Hedging |
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of notional amounts of outstanding derivative | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Notional | ​ | ​ | ​ | Swapped | ​ | Set Settlement
Currency | ​ | Amount | ​ | Termination Date | ​ | Interest Rate | ​ | Amount
Euro | ​ | $ | 80,000 | ​ | April 1, 2024 |  | 2.825% | ​ | € | 71,550
​

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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