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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The remaining Swap Transactions have an aggregate notional amount of $275.0 million with the following terms:

NOTIONAL AMOUNT						WEIGHTED AVERAGE FIXED INTEREST RATE (1)						EFFECTIVE DATE						TERMINATION DATE
$	100,000,000					4.34%						December 29, 2023						December 31, 2025
175,000,000						4.40%						March 29, 2024						March 31, 2026
$	275,000,000					4.38%

____________________

(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 SHEETS CLASSIFICATION						MARCH 30, 2025						DECEMBER 29, 2024
Interest rate swaps - liability			Accrued and other current liabilities						$	951					$	579
Interest rate swaps - liability			Other long-term liabilities, net						121						255
Total fair value of derivative instruments - liabilities (1)									$	1,072					$	834

____________________

(1)    See Note 13 - 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 Income (Loss) for the period indicated:

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION

THIRTEEN WEEKS ENDED

(dollars in thousands)

MARCH 30, 2025

Loss on foreign currency forward contracts (1)

General and administrative

$

10,250

____________________

(1)The loss on foreign currency forward contracts is materially offset by the gains on foreign currency exchange related to the installment receivable from the Brazil Sale Transaction.

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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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