XML 46 R37.htm IDEA: XBRL DOCUMENT v3.25.3

Financial Instruments and Derivatives (Tables)

9 Months Ended

Sep. 28, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The following table sets forth the carrying amounts and fair values of the Company’s significant financial instruments for which the carrying amount differs from the fair value.

						September 28, 2025												December 31, 2024
						Carrying Amount						Fair Value						Carrying Amount						Fair Value
Long-term debt, net of current portion						$	3,787,680					$	3,725,580					$	4,985,496					$	4,800,455

Schedule of Net Positions of Foreign Contracts

The net positions of these contracts at September 28, 2025 were as follows (in thousands):

Currency			Action			Quantity
USD Contracts
Colombian peso			purchase			6,855,645
Mexican peso			purchase			103,800
Danish krone			purchase			40,513
Polish zloty			purchase			37,994
Czech koruna			purchase			28,535
Turkish lira			purchase			37,938
Euro			purchase			984
Canadian dollar			purchase			417
Swedish krona			sell			(1,712)
British pound			sell			(3,345)
Euro Contracts
Hungarian forint			purchase			1,236,677
Polish zloty			purchase			49,379
British pound			purchase			5,326
Swiss franc			purchase			2,274
USD			purchase			1,590

Schedule of Net Positions of Other Derivatives Contracts

The net currency positions of these non-designated contracts at September 28, 2025, were as follows (in thousands):

Currency			Action			Quantity
USD Contracts
Colombian peso			purchase			66,638,516
Indonesian rupiah			purchase			6,386,142
Mexican peso			purchase			300,958
Turkish lira			purchase			15,549
Canadian dollar			purchase			2,322
Euro			sell			(9)
British pound			sell			(48)
Czech koruna			sell			(28,535)
Thai baht			sell			(33,503)
Euro Contracts
Hungarian forint			purchase			426,973
Moroccan Dirham			sell			(615)
USD			sell			(1,918)
British pound			sell			(10,322)
Polish zloty			sell			(121,195)
Thai baht			sell			(562,301)

Schedule of Location and Fair Values of Derivative Instruments

The following table sets forth the location and fair values of the Company’s derivative instruments at September 28, 2025 and December 31, 2024:

Description						Balance Sheet Location						September 28, 2025						December 31, 2024
Derivatives designated as hedging instruments:
Commodity Contracts						Prepaid expenses						$	539					$	671
Commodity Contracts						Other Assets						70						—
Commodity Contracts						Accrued expenses and other payables						(251)						(19)
Foreign Exchange Contracts						Prepaid expenses						3,294						2,068
Foreign Exchange Contracts						Other Assets						2						—
Foreign Exchange Contracts						Accrued expenses and other payables						(1,942)						(3,909)
Net investment hedge						Prepaid expenses						18,953						26,833
Net investment hedge						Other Assets						—						1,845
Net investment hedge						Accrued expenses and other payables						(56,713)						—
Net investment hedge						Other Liabilities						(164,385)						(16,759)
Derivatives not designated as hedging instruments:
Commodity Contracts						Prepaid expenses						199						961
Commodity Contracts						Other Assets						144						—
Commodity Contracts						Accrued expenses and other payables						(1,104)						(574)
Commodity Contracts						Other Liabilities						(34)						—
Foreign Exchange Contracts						Prepaid expenses						1,669						(59)
Foreign Exchange Contracts						Accrued expenses and other payables						(753)						(3,022)

Schedule of Effect of Derivative Instruments on Financial Performance

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the three-month periods ended September 28, 2025 and September 29, 2024, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive income/(loss) to the carrying value of the capitalized expenditures:

Description						Amount of Gain or (Loss) Recognized in OCI on Derivatives						Location of Gain or (Loss) Reclassified from Accumulated OCI Into Income						Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income
Derivatives in Cash Flow Hedging Relationships:
Three-month period ended September 28, 2025
Foreign Exchange Contracts						$	(3,279)					Net sales						$	(729)
												Cost of sales						(1,129)
Commodity Contracts						441						Cost of sales						(175)
Three-month period ended September 29, 2024
Foreign Exchange Contracts						$	(444)					Net sales						$	(513)
												Cost of sales						(86)
Commodity Contracts						(21)						Cost of sales						(21)

 

Description

Gain or (Loss) Recognized

Location of Gain or (Loss) Recognized in Income Statement

Derivatives not Designated as Hedging Instruments:

Three-month period ended September 28, 2025

Commodity Contracts

$

(2,597)

Cost of sales

Foreign Exchange Contracts

(1,065)

Selling, general and administrative

Three-month period ended September 29, 2024

Commodity Contracts

$

(1,377)

Cost of sales

Foreign Exchange Contracts

(1,573)

Selling, general and administrative

						Three-month period ended September 28, 2025									Three-month period ended September 29, 2024
Description						Revenue			Cost of sales						Revenue			Cost of sales
Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income						$	(729)		$	(1,304)					$	(513)		$	(107)
Gain or (loss) on cash flow hedging relationships:
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive loss into net income						$	(729)		$	(1,129)					$	(513)		$	(86)
Commodity contracts:
Amount of gain reclassified from accumulated other comprehensive income/(loss) into net income						$	—		$	(175)					$	—		$	(21)

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the nine-month periods ended September 28, 2025 and September 29, 2024, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive income/(loss) to the carrying value of the capitalized expenditures:

Description						Amount of Gain or (Loss) Recognized in OCI on Derivatives						Location of Gain or (Loss) Reclassified from Accumulated OCI Into Income						Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income
Derivatives in Cash Flow Hedging Relationships:
Nine-month period ended September 28, 2025
Foreign Exchange Contracts						$	2,874					Net sales						$	1,038
												Cost of sales						(1,321)
Commodity Contracts						(469)						Cost of sales						(175)
Nine-month period ended September 29, 2024
Foreign Exchange Contracts						$	(2,094)					Net sales						$	153
												Cost of sales						(225)
Commodity Contracts						16						Cost of sales						(21)

 

Description

Gain or (Loss) Recognized

Location of Gain or (Loss) Recognized in Income Statement

Derivatives not Designated as Hedging Instruments:

Nine-month period ended September 28, 2025

Commodity Contracts

$

(1,149)

Cost of sales

Foreign Exchange Contracts

6,046

Selling, general and administrative

Nine-month period ended September 29, 2024

Commodity Contracts

$

(3,465)

Cost of sales

Foreign Exchange Contracts

(4,039)

Selling, general and administrative

						Nine-month period ended September 28, 2025									Nine-month period ended September 29, 2024
Description						Revenue			Cost of sales						Revenue			Cost of sales
Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income						$	1,038		$	(1,496)					$	153		$	(246)
Gain or (loss) on cash flow hedging relationships:
Foreign exchange contracts:
Amount of gain/(loss) reclassified from accumulated other comprehensive income into net income						$	1,038		$	(1,321)					$	153		$	(225)
Commodity contracts:
Amount of gain reclassified from accumulated other comprehensive income into net income						$	—		$	(175)					$	—		$	(21)

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 5: 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

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/exampleRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 182
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480401/815-10-55-182

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration