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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The Swap Transactions have an aggregate notional amount of $375.0 million and include one and two-year tenors with the following terms:
NOTIONAL AMOUNT |  | WEIGHTED AVERAGE FIXED INTEREST RATE (1) |  | EFFECTIVE DATE |  | TERMINATION DATE
$ | 100,000,000 |  |  | 4.92% |  | December 29, 2023 |  | December 31, 2024
100,000,000 |  |  | 4.34% |  | December 29, 2023 |  | December 31, 2025
175,000,000 |  |  | 4.40% |  | March 29, 2024 |  | March 31, 2026
$ | 375,000,000 |  |  | 4.52% |  |  |  |
____________________ (1)The weighted average fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.
Schedule of derivative instruments in statement of financial position, fair value | The following table presents the fair value and classification of the Company’s swap agreements as of the periods indicated:
(dollars in thousands) | CONSOLIDATED BALANCE SHEET CLASSIFICATION |  | DECEMBER 29, 2024 |  | DECEMBER 31, 2023
Interest rate swaps - asset (1) | Other current assets, net |  | $ | — |  |  | $ | 320 |
Interest rate swaps - liability | Accrued and other current liabilities |  | $ | 579 |  |  | $ | 253 |
Interest rate swaps - liability | Other long-term liabilities, net |  | 255 |  |  | 893 |
Total fair value of derivative instruments - liabilities (1) |  |  | $ | 834 |  |  | $ | 1,146 |
____________________ (1) See Note 15 - Fair Value Measurements for fair value discussion of the interest rate swaps.
Schedule of foreign exchange contracts, statement of financial position | The following table presents the fair value and classification of the Company’s foreign exchange forward contracts as of the period indicated:
(dollars in thousands) | CONSOLIDATED BALANCE SHEET CLASSIFICATION |  | DECEMBER 29, 2024 |  |  |  |
Foreign currency forward contracts - asset (1) | Other current assets, net |  | $ | 304 |  |  |  |  |
____________________ (1) See Note 15 - Fair Value Measurements for fair value discussion of the interest rate swaps.
Schedule of foreign exchange contracts, statement of operations | The following table summarizes the effects of the Company’s foreign exchange forward contracts on the Consolidated Statements of Operations and Comprehensive (Loss) Income for the period indicated:
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATION |  | FISCAL YEAR |  |  |  |
(dollars in thousands) |  | 2024 |  |  |  |
Gains on foreign currency forward contracts | General and administrative |  | $ | 15,728 |  |  |  |  |

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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 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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