BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 29, 2025

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of inventories

As of March 29, 2025 and December 28, 2024, inventories consisted of the following:

	March 29,		December 28,
	2025		2024
Raw materials and purchased parts	$	229,110	$	231,811
Work in process		34,595		35,466
Finished and manufactured goods		315,565		322,986
Total inventories	$	579,270	$	590,263

Schedule of earnings before income taxes and equity in loss of nonconsolidated subsidiaries

Earnings before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen weeks ended March 29, 2025 and March 30, 2024 were as follows:

	Thirteen weeks ended
	March 29,		March 30,
	2025		2024
United States	$	94,983	$	86,212
Foreign		23,039		32,225
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$	118,022	$	118,437

Schedule of components of the net periodic pension cost

The components of the net periodic pension cost for the thirteen weeks ended March 29, 2025 and March 30, 2024 were as follows:

	Thirteen weeks ended
	March 29,		March 30,
	2025		2024
Interest cost	$	5,445	$	5,242
Expected return on plan assets		(5,638)		(5,592)
Amortization of prior service costs		129		127
Amortization of net actuarial loss		322		381
Net periodic pension cost	$	258	$	158

Schedule of compensation expense (included in selling, general and administrative expenses) and associated income tax benefits

For the thirteen weeks ended March 29, 2025 and March 30, 2024, the Company recorded stock-based compensation expenses (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Earnings) and associated tax benefits as follows:

	Thirteen weeks ended
	March 29,		March 30,
	2025		2024
Stock-based compensation	$	7,211	$	7,183
Income tax benefits		1,803		1,796

Schedule of short-term investments in various mutual funds

	Carrying Value		Fair Value Measurement Using:
	March 29, 2025		Level 1		Level 2		Level 3
Deferred compensation investments	$	26,091	$	26,091	$	—	$	—
Derivative financial instruments, net		1,284		—		1,284		—
Cash and cash equivalents—mutual funds		9,504		9,504		—		—

	Carrying Value		Fair Value Measurement Using:
	December 28, 2024		Level 1		Level 2		Level 3
Deferred compensation investments	$	27,379	$	27,379	$	—	$	—
Derivative financial instruments, net		1,320		—		1,320		—
Cash and cash equivalents—mutual funds		11,063		11,063		—		—

Schedule of accumulated other comprehensive income (loss)

	March 29,		December 28,
	2025		2024
Foreign currency translation adjustments	$	(283,493)	$	(306,159)
Hedging activities		21,022		21,350
Defined benefit pension plan		(47,628)		(47,966)
Accumulated other comprehensive loss	$	(310,099)	$	(332,775)

Schedule of outstanding finance program obligations

	March 29,		December 28,
	2025		2024
Confirmed obligations outstanding—beginning of period	$	45,602	$	41,916
Invoices confirmed		56,453		216,731
Confirmed invoices paid		(60,728)		(213,045)
Confirmed obligations outstanding—end of period	$	41,327	$	45,602