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

6 Months Ended

Jun. 28, 2025

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of inventories

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

	June 28,		December 28,
	2025		2024
Raw materials and purchased parts	$	248,329	$	231,811
Work in process		37,978		35,466
Finished and manufactured goods		295,053		322,986
Total inventories	$	581,360	$	590,263

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

Earnings (loss) before income taxes and equity in loss of nonconsolidated subsidiaries for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024 were as follows:

	Thirteen weeks ended				Twenty-six weeks ended
	June 28,		June 29,		June 28,		June 29,
	2025		2024		2025		2024
United States	$	78,135	$	94,731	$	173,118	$	180,943
Foreign		(59,125)		37,505		(36,086)		69,730
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$	19,010	$	132,236	$	137,032	$	250,673

Schedule of components of the net periodic pension cost

The components of the net periodic pension cost for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024 were as follows:

	Thirteen weeks ended				Twenty-six weeks ended
	June 28,		June 29,		June 28,		June 29,
	2025		2024		2025		2024
Interest cost	$	5,721	$	5,242	$	11,166	$	10,484
Expected return on plan assets		(5,924)		(5,591)		(11,562)		(11,183)
Amortization of prior service costs		135		127		264		254
Amortization of net actuarial loss		339		381		661		762
Net periodic pension cost	$	271	$	159	$	529	$	317

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

For the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024, the Company recorded stock-based compensation expenses (included in “Selling, general, and administrative expenses” in the Condensed Consolidated Statements of Operations) and associated tax benefits as follows:

	Thirteen weeks ended				Twenty-six weeks ended
	June 28,		June 29,		June 28,		June 29,
	2025		2024		2025		2024
Stock-based compensation	$	6,166	$	6,925	$	13,377	$	14,108
Income tax benefits		1,541		1,731		3,344		3,527

Schedule of short-term investments in various mutual funds

	Carrying Value		Fair Value Measurement Using:
	June 28, 2025		Level 1		Level 2		Level 3
Deferred compensation investments	$	28,308	$	28,308	$	—	$	—
Derivative financial instruments, net		(5,380)		—		(5,380)		—
Cash and cash equivalents—mutual funds		10,322		10,322		—		—

	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)

	June 28,		December 28,
	2025		2024
Foreign currency translation adjustments	$	(247,426)	$	(306,159)
Hedging activities		16,174		21,350
Defined benefit pension plan		(47,272)		(47,966)
Accumulated other comprehensive loss	$	(278,524)	$	(332,775)

Schedule of outstanding finance program obligations

	June 28,		December 28,
	2025		2024
Confirmed obligations outstanding—beginning of period	$	45,602	$	41,916
Invoices confirmed		124,025		216,731
Confirmed invoices paid		(114,500)		(213,045)
Confirmed obligations outstanding—end of period	$	55,127	$	45,602