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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 29, 2024
Accounting Policies [Abstract] |
Schedule of inventories | Inventories as of June 29, 2024 and December 30, 2023 consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 29, | ​ | December 30,
​ | ​ | 2024 |  | 2023
Raw materials and purchased parts | ​ | $ | 233,957 | ​ | $ | 217,134
Work in process | ​ |  | 42,716 | ​ |  | 37,826
Finished and manufactured goods | ​ |  | 356,559 | ​ |  | 403,468
Total inventories | ​ | $ | 633,232 | ​ | $ | 658,428
Schedule of Income Before Income Tax, Domestic and Foreign | Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1,
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023
United States | ​ | $ | 94,731 | ​ | $ | 77,066 | ​ | $ | 180,943 | ​ | $ | 108,924
Foreign | ​ |  | 37,505 | ​ |  | 43,866 | ​ |  | 69,730 | ​ |  | 117,017
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries | ​ | $ | 132,236 | ​ | $ | 120,932 | ​ | $ | 250,673 | ​ | $ | 225,941
​
Schedule of Components of the Net Periodic Pension (Benefit) Expense | The components of the net periodic pension cost for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1,
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023
Interest cost | ​ | $ | 5,242 | ​ | $ | 5,414 | ​ | $ | 10,484 | ​ | $ | 10,670
Expected return on plan assets | ​ |  | (5,591) | ​ |  | (5,477) | ​ |  | (11,183) | ​ |  | (10,794)
Amortization of prior service costs | ​ |  | 127 | ​ |  | 124 | ​ |  | 254 | ​ |  | 246
Amortization of net actuarial loss | ​ |  | 381 | ​ |  | — | ​ |  | 762 | ​ |  | —
Net periodic pension cost | ​ | $ | 159 | ​ | $ | 61 | ​ | $ | 317 | ​ | $ | 122
Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options | The Company’s stock-based compensation (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Earnings) and associated income tax benefits related to stock options and restricted stock awards for the thirteen and twenty-six weeks ended June 29, 2024 and July 1, 2023 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 29, | ​ | July 1, | ​ | June 29, | ​ | July 1,
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023
Stock-based compensation | ​ | $ | 6,925 | ​ | $ | 11,167 | ​ | $ | 14,108 | ​ | $ | 19,856
Income tax benefits | ​ |  | 1,731 | ​ |  | 2,792 | ​ |  | 3,527 | ​ |  | 4,964
​
Valuation methodologies used for assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Fair Value Measurement Using:
​ | ​ | June 29, 2024 | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Deferred compensation investments | ​ | $ | 26,493 | ​ | $ | 26,493 | ​ | $ | — | ​ | $ | —
Derivative financial instruments, net | ​ | ​ | (1,613) | ​ | ​ | — | ​ | ​ | (1,613) | ​ | ​ | —
Cash and cash equivalents—mutual funds | ​ | ​ | 4,425 | ​ | ​ | 4,425 | ​ | ​ | — | ​ | ​ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Fair Value Measurement Using:
​ | ​ | December 30, 2023 | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Deferred compensation investments | ​ | $ | 26,803 | ​ | $ | 26,803 | ​ | $ | — | ​ | $ | —
Derivative financial instruments, net | ​ | ​ | 2,860 | ​ | ​ | — | ​ | ​ | 2,860 | ​ | ​ | —
Cash and cash equivalents—mutual funds | ​ | ​ | 6,258 | ​ | ​ | 6,258 | ​ | ​ | — | ​ | ​ | —
​
Schedule of Components of Accumulated Other Comprehensive Income (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 29, | ​ | December 30,
​ | ​ | 2024 |  | 2023
Foreign currency translation adjustments | ​ | $ | (276,554) | ​ | $ | (236,690)
Hedging activities | ​ | ​ | 19,498 | ​ | ​ | 20,989
Defined benefit pension plan | ​ | ​ | (56,773) | ​ | ​ | (57,535)
Accumulated other comprehensive loss | ​ | $ | (313,829) | ​ | $ | (273,236)
Schedule of supplier finance program confirmed obligations | ​
​ | ​ | ​ | ​
Confirmed obligations outstanding as of December 30, 2023 | ​ | $ | 41,916
Invoices confirmed during the period | ​ | ​ | 108,504
Confirmed invoices paid during the period | ​ |  | (108,911)
Confirmed obligations outstanding as of June 29, 2024 | ​ | $ | 41,509

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