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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 29, 2024
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of Fair Value of Derivative Instruments | The fair value of derivative instruments as of June 29, 2024 and December 30, 2023 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Condensed Consolidated | ​ | June 29, | ​ | December 30,
Derivatives designated as hedging instruments: |  | Balance Sheets location | ​ | 2024 | ​ | 2023
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 526 | ​ | $ | 2,520
Commodity contracts | ​ | Other accrued expenses | ​ | ​ | (2,580) | ​ | ​ | (1,586)
Cross currency swap contracts |  | Prepaid expenses and other current assets | ​ | ​ | 441 |  | ​ | 1,938
Cross currency swap contracts |  | Other accrued expenses | ​ | ​ | — |  | ​ | (12)
​ | ​ | ​ | ​ | $ | (1,613) | ​ | $ | 2,860
Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Condensed Consolidated | ​ | June 29, | ​ | December 30,
Derivatives designated as hedging instruments: |  | Balance Sheets location | ​ | 2024 | ​ | 2023
Commodity contracts | ​ | Prepaid expenses and other current assets | ​ | $ | 526 | ​ | $ | 2,520
Commodity contracts | ​ | Other accrued expenses | ​ | ​ | (2,580) | ​ | ​ | (1,586)
Cross currency swap contracts |  | Prepaid expenses and other current assets | ​ | ​ | 441 |  | ​ | 1,938
Cross currency swap contracts |  | Other accrued expenses | ​ | ​ | — |  | ​ | (12)
​ | ​ | ​ | ​ | $ | (1,613) | ​ | $ | 2,860
Cash Flow Hedging |
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of notional amounts of outstanding derivative | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Notional | ​ | Total | ​ | ​
Commodity Type | ​ | Amount | ​ | Purchase Quantity | ​ | Maturity Dates
Hot-rolled coil steel | ​ | $ | 22,178 | ​ | 26,500 short tons |  | June 2024 to December 2024
Natural gas | ​ | ​ | 2,747 | ​ | 639,825 MMBtu | ​ | June 2024 to March 2026
Diesel fuel | ​ | ​ | 689 | ​ | 2,898,000 gallons | ​ | June 2024 to December 2025
Net Investment Hedging |
DERIVATIVE FINANCIAL INSTRUMENTS |
Schedule of notional amounts of outstanding derivative | Key terms of the CCS net investment hedges as of June 29, 2024 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Notional | ​ | ​ | ​ | Swapped | ​ | Set Settlement
Currency | ​ | Amount | ​ | Termination Date | ​ | Interest Rate | ​ | Amount
Euro | ​ | $ | 80,000 | ​ | April 1, 2029 |  | 3.461% | ​ | € | 74,509

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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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