v3.26.1
Financial Instruments and Derivatives (Tables)
 6 Months Ended
Jun. 28, 2026
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.
June 28, 2026December 31, 2025
Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Long-term debt, net of current portion$3,484,464 $3,413,067 $3,788,973 $3,728,480 
Schedule of Net Positions of Foreign Contracts The net positions of these contracts at June 28, 2026 were as follows (in thousands):
CurrencyActionQuantity
USD Contracts
Colombian pesopurchase5,824,431 
Mexican pesopurchase96,238 
Danish kronepurchase63,029 
Polish zlotypurchase61,165 
Turkish lirapurchase43,540 
Canadian dollarpurchase8,475 
US Dollarpurchase6,178 
Europurchase1,813 
Swedish kronasell(2,965)
British poundsell(4,873)
Euro Contracts
Hungarian forintpurchase5,292,913 
US Dollarpurchase4,204 
Europurchase1,255 
Swiss franc
purchase1,082 
British poundsell(3,510)
Polish zlotysell(23,665)
Schedule of Net Positions of Other Derivatives Contracts The net currency positions of these non-designated contracts at June 28, 2026, were as follows (in thousands):
CurrencyActionQuantity
USD Contracts
Colombian pesopurchase71,872,695 
Indonesian rupiahpurchase25,186,110 
Mexican pesopurchase309,052 
Canadian dollarpurchase4,599 
US Dollarpurchase211 
Euro Contracts
Hungarian forintpurchase797,654 
British poundpurchase5,856 
Europurchase3,800 
Swiss franc
purchase976 
US Dollarsell(880)
Polish zlotysell(31,912)
Thai bahtsell(499,467)
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 June 28, 2026 and December 31, 2025:
DescriptionBalance Sheet LocationJune 28, 2026December 31, 2025
Derivatives designated as hedging instruments:
Commodity ContractsPrepaid expenses$1,831 $1,508 
Commodity ContractsOther Assets94 175 
Commodity ContractsAccrued expenses and other payables(490)— 
Commodity ContractsOther Liabilities(2)— 
Foreign Exchange ContractsPrepaid expenses3,945 1,131 
Foreign Exchange ContractsOther Assets— 33 
Foreign Exchange ContractsAccrued expenses and other payables(2,119)(1,028)
Foreign Exchange ContractsOther Liabilities— (87)
Net investment hedgePrepaid expenses19,333 19,358 
Net investment hedgeAccrued expenses and other payables(76,782)(58,594)
Net investment hedgeOther Liabilities(87,222)(167,967)
Derivatives not designated as hedging instruments:
Commodity ContractsPrepaid expenses221 185 
Commodity ContractsOther Assets101 — 
Commodity ContractsAccrued expenses and other payables(1,672)(1,517)
Commodity ContractsOther Liabilities(135)— 
Foreign Exchange ContractsPrepaid expenses1,330 1,106 
Foreign Exchange ContractsAccrued expenses and other payables(421)(887)
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 June 28, 2026 and June 29, 2025, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive (loss)/income to the carrying value of the capitalized expenditures:
DescriptionAmount 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 June 28, 2026
Foreign Exchange Contracts$2,527 Net sales$137 
Cost of sales(9)
Commodity Contracts(429)Cost of sales1,447 
Three-month period ended June 29, 2025
Foreign Exchange Contracts$2,902 Net sales$1,368 
Cost of sales(151)
Commodity Contracts(374)Cost of sales— 
 
DescriptionGain or (Loss)
Recognized		Location of Gain or (Loss) Recognized in
Income Statement
Derivatives not Designated as Hedging Instruments:
Three-month period ended June 28, 2026
Commodity Contracts$(824)Cost of sales
Foreign Exchange Contracts2,490 Selling, general and administrative
Three-month period ended June 29, 2025
Commodity Contracts$(1,889)Cost of sales
Foreign Exchange Contracts3,543 Selling, general and administrative
Three-month period ended June 28, 2026Three-month period ended June 29, 2025
DescriptionRevenueCost of salesRevenueCost of sales
Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income$137 $1,438 $1,368 $(151)
Gain or (loss) on cash flow hedging relationships:
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss)/income into net income$137 $(9)$1,368 $(151)
Commodity contracts:
Amount of gain reclassified from accumulated other comprehensive (loss)/income into net income$— $1,447 $— $— 
The following tables set forth the effect of the Company’s derivative instruments on financial performance for the six-month periods ended June 28, 2026 and June 29, 2025, excluding the amount of foreign currency cash flow hedges that were reclassified from accumulated other comprehensive (loss)/income to the carrying value of the capitalized expenditures:
DescriptionAmount 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:
Six-month period ended June 28, 2026
Foreign Exchange Contracts$2,263 Net sales$52 
Cost of sales(197)
Commodity Contracts1,967 Cost of sales2,217 
Six-month period ended June 29, 2025
Foreign Exchange Contracts$6,153 Net sales$1,767 
Cost of sales(192)
Commodity Contracts(910)Cost of sales— 
 
DescriptionGain or (Loss)
Recognized		Location of Gain or (Loss) Recognized in
Income Statement
Derivatives not Designated as Hedging Instruments:
Six-month period ended June 28, 2026
Commodity Contracts$480 Cost of sales
Foreign Exchange Contracts4,187 Selling, general and administrative
Six-month period ended June 29, 2025
Commodity Contracts$1,448 Cost of sales
Foreign Exchange Contracts7,111 Selling, general and administrative

Six-month period ended June 28, 2026Six-month period ended June 29, 2025
DescriptionRevenueCost of salesRevenueCost of sales
Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income$52 $2,020 $1,767 $(192)
Gain or (loss) on cash flow hedging relationships:
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss)/income into net income$52 $(197)$1,767 $(192)
Commodity contracts:
Amount of gain reclassified from accumulated other comprehensive (loss)/income into net income$— $2,217 $— $—