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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
 6 Months Ended
Jul. 04, 2026
Equity [Abstract]  
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Common Stock
On December 11, 2023, the Company announced that its Board of Directors approved a share repurchase program (the "2023 Repurchase Program"). The 2023 Repurchase Program authorized the repurchase of up to $300.0 million of the Company's outstanding Common Stock through open market or privately negotiated transactions. On May 6, 2026, the Company announced that its Board of Directors approved a new share repurchase program (the "2026 Repurchase Program") which replaced all remaining shares under the 2023 Repurchase Program. The 2026 Repurchase Program authorizes the repurchase of up to $750.0 million of the Company's outstanding Common Stock through open market or privately negotiated transactions. The 2026 Repurchase Program does not have an expiration date but may be suspended, modified or terminated at any time without prior notice.
During the six months ended June 2026, the Company repurchased 0.3 million shares of Common Stock for $25.0 million, including commissions, under the 2023 Repurchase Program, and 0.7 million shares of Common Stock for $50.0 million, including commissions, under the 2026 Repurchase Program. All shares reacquired in connection with the Company's repurchase programs are treated as authorized and unissued shares upon repurchase. As of June 2026, $700.0 million remained available for repurchase under the 2026 Repurchase Program.
Accumulated Other Comprehensive Loss
The following table presents deferred components of AOCL in equity, net of related taxes:
(In thousands)June 2026December 2025June 2025
Foreign currency translation$(61,346)$(74,997)$(84,456)
Defined benefit pension plans2,626 2,751 2,069 
Derivative financial instruments18,440 4,703 (7,213)
Accumulated other comprehensive loss$(40,280)$(67,543)$(89,600)
The following tables present changes in AOCL, net of related tax impact:
Three Months Ended June 2026
(In thousands)Foreign Currency TranslationDefined Benefit Pension PlansDerivative Financial InstrumentsTotal
Balance, March 2026$(58,684)$2,688 $12,958 $(43,038)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications(2,662)— 7,109 4,447 
Reclassifications to net income of previously deferred (gains) losses— (62)(1,627)(1,689)
Net other comprehensive income (loss)(2,662)(62)5,482 2,758 
Balance, June 2026$(61,346)$2,626 $18,440 $(40,280)
Three Months Ended June 2025
(In thousands)Foreign Currency TranslationDefined Benefit Pension PlansDerivative Financial InstrumentsTotal
Balance, March 2025$(109,432)$2,094 $(7,248)$(114,586)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications24,976 — (803)24,173 
Reclassifications to net income of previously deferred (gains) losses— (25)838 813 
Net other comprehensive income (loss)24,976 (25)35 24,986 
Balance, June 2025$(84,456)$2,069 $(7,213)$(89,600)
Six Months Ended June 2026
(In thousands)Foreign Currency TranslationDefined Benefit Pension PlansDerivative Financial InstrumentsTotal
Balance, December 2025$(74,997)$2,751 $4,703 $(67,543)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications13,651 — 14,689 28,340 
Reclassifications to net income of previously deferred (gains) losses— (125)(952)(1,077)
Net other comprehensive income (loss)13,651 (125)13,737 27,263 
Balance, June 2026$(61,346)$2,626 $18,440 $(40,280)
Six Months Ended June 2025
(In thousands)Foreign Currency TranslationDefined Benefit Pension PlansDerivative Financial InstrumentsTotal
Balance, December 2024$(115,505)$2,119 $(3,264)$(116,650)
Other comprehensive income (loss) due to gains (losses) arising before reclassifications31,049 — (5,726)25,323 
Reclassifications to net income of previously deferred (gains) losses— (50)1,777 1,727 
Net other comprehensive income (loss)31,049 (50)(3,949)27,050 
Balance, June 2025$(84,456)$2,069 $(7,213)$(89,600)
The following table presents reclassifications out of AOCL:
(In thousands)Three Months Ended JuneSix Months Ended June
Details About Accumulated Other Comprehensive Loss Reclassifications
Affected Line Item in the Financial Statements
2026202520262025
Gains (losses) on derivative financial instruments:
Foreign currency exchange contractsNet revenues$1,931 $(106)$2,525 $(489)
Foreign currency exchange contractsCost of goods sold(865)(1,228)(1,966)(1,780)
Foreign currency exchange contractsOther (expense) income, net30 56 46 232 
Interest rate swap agreementsInterest expense293 762 650 1,181 
Total before tax1,389 (516)1,255 (856)
Income taxesIncome taxes234 (369)607 (603)
Net of tax1,623 (885)1,862 (1,459)
Total reclassifications for the period, net of tax$1,623 $(885)$1,862 $(1,459)