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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments

Fair value of derivative instruments at December 31, 2022 and December 25, 2021 are as follows:

Derivatives designated as hedging instruments:

    

Balance sheet location

2022

2021

Commodity forward contracts

Accrued expenses

$

(3,854)

$

(5,802)

Foreign currency forward contracts

 

Prepaid expenses and other assets

83

 

149

Foreign currency forward contracts

 

Accrued expenses

 

(118)

Cross currency swap contracts

 

Prepaid expenses and other assets

5,385

 

1,764

Cross currency swap contracts

 

Accrued expenses

(210)

 

$

1,404

$

(4,007)

Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings

Gains (losses) on derivatives recognized in the Consolidated Statements of Earnings for the years ended December 31, 2022, December 25, 2021, and December 26, 2020 are as follows:

Derivatives designated as hedging instruments:

Statements of earnings location

2022

2021

2020

Commodity forward contracts

Product cost of sales

$

(5,212)

$

25,821

$

Foreign currency forward contracts

Product sales

1,598

Foreign currency forward contracts

Other income

(45)

 

(40)

 

187

Interest rate hedge amortization

Interest expense

(64)

 

(64)

 

(64)

Cross currency swap contracts

Loss from divestiture of wind energy structures business

4,827

 

 

Cross currency swap contracts

Interest expense

2,875

 

2,780

 

2,738

$

2,381

$

28,497

$

4,459

Schedule of notional amounts of outstanding derivative

    

Notional 

Swapped 

Set Settlement 

 

Currency

Amount

Termination Date

Interest Rate

Amount

 

Euro

$

80,000

April 1, 2024

 

2.825%

71,550