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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
9 Months Ended
Sep. 28, 2024
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of Fair Value of Derivative Instruments

The fair value of derivative instruments as of September 28, 2024 and December 30, 2023 was as follows:

Condensed Consolidated

September 28,

December 30,

Derivatives designated as hedging instruments:

    

Balance Sheets location

2024

2023

Commodity contracts

Prepaid expenses and other current assets

$

440

$

2,520

Commodity contracts

Other accrued expenses

(1,635)

(1,586)

Cross currency swap contracts

 

Prepaid expenses and other current assets

548

 

1,938

Cross currency swap contracts

 

Other accrued expenses

(2,711)

 

(12)

$

(3,358)

$

2,860

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

    

Condensed Consolidated

Thirteen weeks ended

Thirty-nine weeks ended

Derivatives designated

Statements of Operations

September 28,

September 30,

September 28,

September 30,

as hedging instruments:

location

2024

    

2023

    

2024

    

2023

Commodity contracts

Product cost of sales

$

(1,552)

$

(997)

$

(993)

$

(6,060)

Foreign currency forward contracts

Other income (expenses)

 

 

177

Interest rate hedge amortization

Interest expense

(16)

 

(16)

(48)

 

(48)

Cross currency swap contracts

Interest expense

248

 

476

934

 

1,371

$

(1,320)

$

(537)

$

(107)

$

(4,560)

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

$

15,293

18,500 short tons

 

September 2024 to April 2025

Natural gas

2,159

543,825 MMBtu

October 2024 to March 2026

Ultra-low-sulfur diesel fuel

1,042

4,410,000 gallons

September 2024 to March 2026

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

Key terms of the CCS net investment hedges as of September 28, 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