XML 37 R27.htm IDEA: XBRL DOCUMENT v3.24.2
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