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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 29, 2024
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of Fair Value of Derivative Instruments

The fair value of derivative instruments as of June 29, 2024 and December 30, 2023 was as follows:

Condensed Consolidated

June 29,

December 30,

Derivatives designated as hedging instruments:

    

Balance Sheets location

2024

2023

Commodity contracts

Prepaid expenses and other current assets

$

526

$

2,520

Commodity contracts

Other accrued expenses

(2,580)

(1,586)

Cross currency swap contracts

 

Prepaid expenses and other current assets

441

 

1,938

Cross currency swap contracts

 

Other accrued expenses

 

(12)

$

(1,613)

$

2,860

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

Condensed Consolidated

June 29,

December 30,

Derivatives designated as hedging instruments:

    

Balance Sheets location

2024

2023

Commodity contracts

Prepaid expenses and other current assets

$

526

$

2,520

Commodity contracts

Other accrued expenses

(2,580)

(1,586)

Cross currency swap contracts

 

Prepaid expenses and other current assets

441

 

1,938

Cross currency swap contracts

 

Other accrued expenses

 

(12)

$

(1,613)

$

2,860

Cash Flow Hedging  
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of notional amounts of outstanding derivative

    

Notional

Total

Commodity Type

Amount

Purchase Quantity

Maturity Dates

Hot-rolled coil steel

$

22,178

26,500 short tons

 

June 2024 to December 2024

Natural gas

2,747

639,825 MMBtu

June 2024 to March 2026

Diesel fuel

689

2,898,000 gallons

June 2024 to December 2025

Net Investment Hedging  
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of notional amounts of outstanding derivative

Key terms of the CCS net investment hedges as of June 29, 2024 were as follows:

    

Notional

Swapped

Set Settlement

Currency

Amount

Termination Date

Interest Rate

Amount

Euro

$

80,000

April 1, 2029

 

3.461%

74,509