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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 28, 2025
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Schedule of inventories | As of June 28, 2025 and December 28, 2024, inventories consisted of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 28, | ​ | December 28,
​ | ​ | 2025 |  | 2024
Raw materials and purchased parts | ​ | $ | 248,329 | ​ | $ | 231,811
Work in process | ​ |  | 37,978 | ​ |  | 35,466
Finished and manufactured goods | ​ |  | 295,053 | ​ |  | 322,986
Total inventories | ​ | $ | 581,360 | ​ | $ | 590,263
Schedule of earnings before income taxes and equity in loss of nonconsolidated subsidiaries | Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
​ | ​ | 2025 |  | 2024 |  | 2025 |  | 2024
United States | ​ | $ | 78,135 | ​ | $ | 94,731 | ​ | $ | 173,118 | ​ | $ | 180,943
Foreign | ​ |  | (59,125) | ​ |  | 37,505 | ​ |  | (36,086) | ​ |  | 69,730
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries | ​ | $ | 19,010 | ​ | $ | 132,236 | ​ | $ | 137,032 | ​ | $ | 250,673
Schedule of components of the net periodic pension cost | The components of the net periodic pension cost for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
​ | ​ | 2025 |  | 2024 |  | 2025 |  | 2024
Interest cost | ​ | $ | 5,721 | ​ | $ | 5,242 | ​ | $ | 11,166 | ​ | $ | 10,484
Expected return on plan assets | ​ |  | (5,924) | ​ |  | (5,591) | ​ |  | (11,562) | ​ |  | (11,183)
Amortization of prior service costs | ​ |  | 135 | ​ |  | 127 | ​ |  | 264 | ​ |  | 254
Amortization of net actuarial loss | ​ |  | 339 | ​ |  | 381 | ​ |  | 661 | ​ |  | 762
Net periodic pension cost | ​ | $ | 271 | ​ | $ | 159 | ​ | $ | 529 | ​ | $ | 317
Schedule of compensation expense (included in selling, general and administrative expenses) and associated income tax benefits | For the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024, the Company recorded stock-based compensation expenses (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Operations) and associated tax benefits as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended | ​ | Twenty-six weeks ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
​ | ​ | 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation | ​ | $ | 6,166 | ​ | $ | 6,925 | ​ | $ | 13,377 | ​ | $ | 14,108
Income tax benefits | ​ |  | 1,541 | ​ |  | 1,731 | ​ |  | 3,344 | ​ |  | 3,527
Schedule of short-term investments in various mutual funds | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Fair Value Measurement Using:
​ | ​ | June 28, 2025 | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Deferred compensation investments | ​ | $ | 28,308 | ​ | $ | 28,308 | ​ | $ | — | ​ | $ | —
Derivative financial instruments, net | ​ | ​ | (5,380) | ​ | ​ | — | ​ | ​ | (5,380) | ​ | ​ | —
Cash and cash equivalents—mutual funds | ​ | ​ | 10,322 | ​ | ​ | 10,322 | ​ | ​ | — | ​ | ​ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Fair Value Measurement Using:
​ | ​ | December 28, 2024 | ​ | Level 1 | ​ | Level 2 | ​ | Level 3
Deferred compensation investments | ​ | $ | 27,379 | ​ | $ | 27,379 | ​ | $ | — | ​ | $ | —
Derivative financial instruments, net | ​ | ​ | 1,320 | ​ | ​ | — | ​ | ​ | 1,320 | ​ | ​ | —
Cash and cash equivalents—mutual funds | ​ | ​ | 11,063 | ​ | ​ | 11,063 | ​ | ​ | — | ​ | ​ | —
Schedule of accumulated other comprehensive income (loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 28, | ​ | December 28,
​ | ​ | 2025 |  | 2024
Foreign currency translation adjustments | ​ | $ | (247,426) | ​ | $ | (306,159)
Hedging activities | ​ | ​ | 16,174 | ​ | ​ | 21,350
Defined benefit pension plan | ​ | ​ | (47,272) | ​ | ​ | (47,966)
Accumulated other comprehensive loss | ​ | $ | (278,524) | ​ | $ | (332,775)
Schedule of outstanding finance program obligations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 28, | ​ | December 28,
​ | ​ | 2025 |  | 2024
Confirmed obligations outstanding—beginning of period | ​ | $ | 45,602 | ​ | $ | 41,916
Invoices confirmed | ​ |  | 124,025 | ​ |  | 216,731
Confirmed invoices paid | ​ |  | (114,500) | ​ |  | (213,045)
Confirmed obligations outstanding—end of period | ​ | $ | 55,127 | ​ | $ | 45,602

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