v3.26.1
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Jul. 04, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the fair value of outstanding derivatives on an individual contract basis:
Fair Value of Derivatives
with Unrealized Gains		Fair Value of Derivatives
with Unrealized Losses
JuneDecemberJuneJuneDecemberJune
(In thousands)202620252025202620252025
Derivatives designated as hedging instruments:
Foreign currency exchange contracts$20,229 $11,373 $6,501 $(6,575)$(9,641)$(14,386)
Interest rate swap agreements3,681 279 2,106 — — — 
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts1,476 — 17 (204)(255)(156)
Total derivatives$25,386 $11,652 $8,624 $(6,779)$(9,896)$(14,542)
The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
June 2026December 2025June 2025
(In thousands)Derivative AssetDerivative LiabilityDerivative AssetDerivative LiabilityDerivative AssetDerivative Liability
Gross amounts presented in the balance sheet$25,386 $(6,779)$11,652 $(9,896)$8,624 $(14,542)
Gross amounts not offset in the balance sheet(5,961)5,961 (3,043)3,043 (3,523)3,523 
Net amounts$19,425 $(818)$8,609 $(6,853)$5,101 $(11,019)
Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates
The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates:
(In thousands)June 2026December 2025June 2025
Prepaid expenses and other current assets$17,944 $9,906 $4,327 
Accrued and other current liabilities(5,673)(8,546)(10,120)
Other assets7,442 1,746 4,297 
Other liabilities(1,106)(1,350)(4,422)
Schedule of Pre-Tax Effects of Cash Flow Hedges Included in the Statement of Operations and Statements of Comprehensive Income
The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income:
Gain (Loss) on Derivatives Recognized in AOCL
(In thousands)Three Months Ended JuneSix Months Ended June
Cash Flow Hedging Relationships2026202520262025
Foreign currency exchange contracts$6,737 $(3,169)$13,495 $(6,920)
Interest rate swap agreements1,640 361 4,052 (2,103)
Total$8,377 $(2,808)$17,547 $(9,023)
Gain (Loss) Reclassified from AOCL into Income from Continuing Operations
(In thousands)Three Months Ended JuneSix Months Ended June
Location of Gain (Loss)2026202520262025
Net revenues$1,931 $(106)$2,525 $(489)
Cost of goods sold(865)(1,228)(1,966)(1,780)
Other (expense) income, net30 56 46 232 
Interest expense293 762 650 1,181 
Total$1,389 $(516)$1,255 $(856)
Schedule of Derivatives Not Designated as Hedging Instruments
The following table presents a summary of derivatives not designated as hedges included in the Company's statements of operations:
(In thousands)Location of Gain (Loss) on Derivatives Recognized in IncomeGain (Loss) on Derivatives Recognized in Income
Derivatives Not Designated as HedgesThree Months Ended JuneSix Months Ended June
2026202520262025
Foreign currency exchange contractsNet revenues$33 $— $302 $— 
Foreign currency exchange contractsCost of goods sold8 (71)31 (71)
Foreign currency exchange contractsOther (expense) income, net(922)32,974 (537)24,106 
Total$(881)$32,903 $(204)$24,035