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Financial instruments (Tables)

9 Months Ended

Sep. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense

The following table summarizes the foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense related to cross currency swap for the three and nine months ended September 29, 2024 and October 1, 2023:

			Three Months Ended												Nine Months Ended
			September 29, 2024						October 1, 2023						September 29, 2024						October 1, 2023
Foreign exchange (loss) gain			$	(24,846)					$	15,756					$	(10,656)					$	1,466
Interest benefit			4,031						5,171						12,031						15,459

Fair Values of Derivative Instruments Designated as Hedging Instruments

The following table presents the locations in the condensed consolidated balance sheet and fair value of derivative financial instruments as of September 29, 2024 and December 31, 2023:

			September 29, 2024						December 31, 2023
			Fair Value
Asset derivatives:
Designated foreign currency forward contracts			$	4,468					$	1,629
Non-designated foreign currency forward contracts			263						937
Cross-currency interest rate swaps			15,702						16,883
Prepaid expenses and other current assets			20,433						19,449
Total asset derivatives			$	20,433					$	19,449
Liability derivatives:
Designated foreign currency forward contracts			$	10,075					$	1,866
Non-designated foreign currency forward contracts			968						1,340
Other current liabilities			11,043						3,206
Cross-currency interest rate swaps			50,964						32,097
Other liabilities			50,964						32,097
Total liability derivatives			$	62,007					$	35,303

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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

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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