INCOME TAXES (Tables)

12 Months Ended

Dec. 28, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax, Domestic and Foreign

Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the fiscal years ended December 28, 2024, December 30, 2023, and December 31, 2022 were as follows:

	Fiscal Year Ended
	December 28,		December 30,		December 31,
	2024		2023		2022
United States	$	328,953	$	195,491	$	224,370
Foreign		139,728		40,961		139,518
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$	468,681	$	236,452	$	363,888

Schedule of Income Tax Expense (Benefit)

	Fiscal Year Ended
	December 28,		December 30,		December 31,
	2024		2023		2022
Current:
Federal	$	84,110	$	42,226	$	48,309
State		17,738		8,480		11,888
Foreign		42,150		56,107		48,273
Total current income tax expense		143,998		106,813		108,470
Non-current:		(1,365)		1,957		1,442
Deferred:
Federal		(21,498)		(12,585)		(7,544)
State		(5,261)		(2,586)		(1,973)
Foreign		2,104		(3,478)		8,292
Total deferred income tax benefit		(24,655)		(18,649)		(1,225)
Total income tax expense	$	117,978	$	90,121	$	108,687

Schedule of Reconciliation of Statutory Federal Income Tax Rate and Effective Tax Rate

The reconciliations of the statutory federal income tax rate and the effective tax rate for the fiscal years ended December 28, 2024, December 30, 2023, and December 31, 2022 were as follows:

	Fiscal Year Ended
	December 28,		December 30,		December 31,
	2024		2023		2022
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	2.2		1.8		2.3
Carryforwards, credits and changes in valuation allowances	(1.9)		(2.4)		1.0
Foreign jurisdictional tax rate differences	1.5		4.6		4.2
Changes in unrecognized tax benefits	(0.3)		0.8		0.3
Impairment of goodwill and other intangible assets	—		11.9		—
Excess tax benefit on equity compensation	0.7		1.1		0.5
Loss on divestitures	0.1		—		2.2
Other	1.9		(0.7)		(1.6)
Effective tax rate	25.2	%	38.1	%	29.9	%

Schedule of Tax Effects of Significant Items Comprising Net Deferred Income Tax Liabilities

The tax effects of significant items comprising the Company’s net deferred income tax assets (liabilities) as of December 28, 2024 and December 30, 2023 were as follows:

	December 28,		December 30,
	2024		2023
Deferred income tax assets:
Accrued expenses and allowances	$	31,340	$	36,883
Tax credits and loss carryforwards		56,180		58,519
Inventory allowances		10,538		8,427
Accrued compensation and benefits		25,779		23,880
Lease liabilities		41,628		41,769
Research and development expenditures		41,214		22,751
Deferred compensation		13,351		16,163
Gross deferred income tax assets		220,030		208,392
Valuation allowance		(44,920)		(48,632)
Net deferred income tax assets		175,110		159,760
Deferred income tax liabilities:
Property, plant, and equipment		36,342		42,299
Intangible assets		48,571		52,017
Defined benefit pension asset		11,630		3,851
Lease assets		41,627		42,717
Other deferred tax liabilities		5,375		6,616
Total deferred income tax liabilities		143,545		147,500
Net deferred income tax assets	$	31,565	$	12,260

Schedule of Deferred Income Tax Assets (Liabilities) Presented on the Consolidated Balance Sheets

Deferred income tax assets (liabilities) were presented in the Consolidated Balance Sheets as of December 28, 2024 and December 30, 2023 as follows:

	December 28,		December 30,
	2024		2023
Other non-current assets	$	37,909	$	33,465
Deferred income taxes		(6,344)		(21,205)
Net deferred income tax assets	$	31,565	$	12,260

Schedule of Activity Related to Unrecognized Tax Benefits

The following summarizes the activity related to unrecognized tax benefits for the fiscal years ended December 28, 2024 and December 30, 2023:

	Fiscal Year Ended
	December 28,		December 30,
	2024		2023
Gross unrecognized tax benefits—beginning of period	$	4,306	$	2,536
Gross increases from tax positions in prior period		44		2,174
Gross increases from current‑period tax positions		410		370
Settlements with taxing authorities		(1,277)		(32)
Lapses of statutes of limitation		(776)		(742)
Gross unrecognized tax benefits—end of period	$	2,707	$	4,306