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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

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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Schedule of Foreign Exchange Contracts, Statement of Operations

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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.

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