Commitments and Contingencies

12 Months Ended

Dec. 29, 2025

Commitments and Contingencies Disclosure [Abstract]

(11)

Commitments and Contingencies

Legal Matters

The Company is subject to various legal matters, which it considers normal for its business activities. While the Company currently believes that the amount of any reasonably possible loss for known matters would not be material to the Company’s financial condition, the outcome of these actions is inherently difficult to predict. In the event of an adverse outcome, the ultimate potential loss could have a material adverse effect on the Company’s financial condition or results of operations in a particular period. The Company has accrued amounts for its loss contingencies which are probable and estimable as of December 29, 2025 and December 30, 2024 and included as a component of other current liabilities. However, these amounts are not material to the consolidated financial statements of the Company.

Supplier Finance Program Obligations

The Company has agreements with financial institutions to facilitate payments to certain suppliers. Under the terms of the agreements, the Company confirms the validity of each supplier invoice to the respective financial institution upon receipt. The supplier receives payment from the financial institution, and the Company pays the financial institution based on the terms negotiated, which generally range from 160 days to 360 days. Liabilities associated with these agreements are recorded in accounts payable on the consolidated balance sheets and amounted to $12,535 and $17,218 as of December 29, 2025 and December 30, 2024, respectively.

The details of the outstanding obligations confirmed as valid under the Company’s supplier finance program were as follows:


	For the Year Ended
	December 29, 2025			December 30, 2024
	(In thousands)
Confirmed obligations outstanding at beginning of year	$	17,218		$	18,832
Invoices confirmed during the year		12,579			22,887
Confirmed invoices paid during the year		(17,480	)		(24,983	)
Effect of foreign currency exchange rates		218			482
Confirmed obligations outstanding at end of year	$	12,535		$	17,218