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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Cross Currency Swap Contracts, Forward Contracts, and Interest Rate Swaps | The fair values of cross currency swap contracts, forward contracts and interest rate swap contracts were as follows:
(in thousands) | Balance Sheet Location |  | June 29, 2024 |  | December 30, 2023
Derivatives not designated as hedging instruments: |  |  |  |  |
Forward contracts | Derivative asset – current |  | $ | 52 |  |  | $ | — |
Cross currency swaps | Derivative asset – non-current |  | — |  |  | 20,831 |
Total derivatives in an asset position |  |  | $ | 52 |  |  | $ | 20,831 |
Forward contracts | Accounts payable and accrued liabilities |  | $ | 26 |  |  | $ | 384 |
Cross currency swaps | Accounts payable and accrued liabilities |  | — |  |  | 466 |
Total derivatives in a liability position |  |  | $ | 26 |  |  | $ | 850 |
Derivatives designated as hedging instruments: |  |  |  |  |
Interest rate swaps | Derivative asset – current |  | $ | — |  |  | $ | 7,691 |
Interest rate swaps | Derivative asset – non-current |  | — |  |  | 2,688 |
Total derivatives in an asset position |  |  | $ | — |  |  | $ | 10,379 |
Total deferred gain | Accumulated other comprehensive income |  | $ | 9,705 |  |  | $ | 13,045 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The impact of derivative financial instruments on the unaudited interim condensed consolidated statements of operations and comprehensive income was as follows:
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended |  |
(in thousands) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023 |  |  |  |
Gain (loss) on forward contracts recognized in (loss) gain on foreign currency, net | $ | 189 |  |  | $ | (624) |  |  | $ | 460 |  |  | $ | (689) |  |  |  |  |
Gain (loss) on cross currency swaps recognized in (loss) gain on foreign currency, net | $ | 2,033 |  |  | $ | (4,619) |  |  | $ | 7,647 |  |  | $ | (3,930) |  |  |  |  |
Gain on interest rate swaps recognized in interest expense, net | $ | 2,680 |  |  | $ | 2,729 |  |  | $ | 5,704 |  |  | $ | 5,123 |  |  |  |  |
Schedule of Accumulated Other Comprehensive Income (Loss) | The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income, net of tax:
| Thirteen Weeks Ended |  | Twenty-Six Weeks Ended |  |
(in thousands) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023 |  |  |  |
Gain recognized in other comprehensive (loss) income | $ | 165 |  |  | $ | 4,768 |  |  | $ | 2,364 |  |  | $ | 3,515 |  |  |  |  |
Gain reclassified from accumulated other comprehensive income into net income | $ | 2,680 |  |  | $ | 2,729 |  |  | $ | 5,704 |  |  | $ | 5,123 |  |  |  |  |

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