DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Apr. 01, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

Fair value of derivative instruments at April 1, 2023 and December 31, 2022 are as follows:

		April 1,		December 31,
Derivatives designated as hedging instruments:	Balance sheet location	2023		2022
Commodity forward contracts	Other accrued expenses	$	(1,971)	$	(3,854)
Foreign currency forward contracts	Prepaid expenses and other assets		142		83
Cross currency swap contracts	Prepaid expenses and other assets		4,747		5,385
Cross currency swap contracts	Other accrued expenses		(125)		(210)
		$	2,793	$	1,404

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

Gains (losses) on derivatives recognized in the Condensed Consolidated Statements of Earnings for the thirteen weeks ended April 1, 2023 and March 26, 2022 are as follows:

		Thirteen weeks ended
		April 1,		March 26,
Derivatives designated as hedging instruments:	Statement of earnings location	2023		2022
Commodity forward contracts	Product cost of sales	$	(3,985)	$	2,043
Foreign currency forward contracts	Other income		97		151
Interest rate hedge amortization	Interest expense		(16)		(16)
Cross currency swap contracts	Interest expense		446		774
		$	(3,458)	$	2,952

Schedule of notional amounts of outstanding derivative

Key terms of the Euro CCS are as follows:

	Notional			Swapped	Set Settlement
Currency	Amount		Termination Date	Interest Rate	Amount
Euro	$	80,000	April 1, 2024	2.825%	€	71,550