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

9 Months Ended

Sep. 27, 2025

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of inventories

As of September 27, 2025 and December 28, 2024, inventories consisted of the following:

	September 27,		December 28,
	2025		2024
Raw materials and purchased parts	$	271,317	$	231,811
Work in process		35,245		35,466
Finished and manufactured goods		284,789		322,986
Total inventories	$	591,351	$	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 thirty-nine weeks ended September 27, 2025 and September 28, 2024 were as follows:

	Thirteen weeks ended				Thirty-nine weeks ended
	September 27,		September 28,		September 27,		September 28,
	2025		2024		2025		2024
United States	$	126,577	$	78,520	$	299,695	$	259,463
Foreign		4,960		33,835		(31,126)		103,565
Earnings before income taxes and equity in loss of nonconsolidated subsidiaries	$	131,537	$	112,355	$	268,569	$	363,028

Schedule of components of the net periodic pension cost

The components of the net periodic pension cost for the thirteen and thirty-nine weeks ended September 27, 2025 and September 28, 2024 were as follows:

	Thirteen weeks ended				Thirty-nine weeks ended
	September 27,		September 28,		September 27,		September 28,
	2025		2024		2025		2024
Interest cost	$	5,706	$	5,445	$	16,872	$	15,929
Expected return on plan assets		(5,908)		(5,808)		(17,470)		(16,991)
Amortization of prior service costs		135		132		399		386
Amortization of net actuarial loss		338		396		999		1,158
Net periodic pension cost	$	271	$	165	$	800	$	482

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

For the thirteen and thirty-nine weeks ended September 27, 2025 and September 28, 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				Thirty-nine weeks ended
	September 27,		September 28,		September 27,		September 28,
	2025		2024		2025		2024
Stock-based compensation	$	6,019	$	7,557	$	19,396	$	21,665
Income tax benefits		1,504		1,889		4,849		5,416

Schedule of short-term investments in various mutual funds

	Carrying Value		Fair Value Measurement Using:
	September 27, 2025		Level 1		Level 2		Level 3
Deferred compensation investments	$	28,656	$	28,656	$	—	$	—
Derivative financial instruments, net		(5,080)		—		(5,080)		—
Cash and cash equivalents—mutual funds		9,641		9,641		—		—

	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)

	September 27,		December 28,
	2025		2024
Foreign currency translation adjustments	$	(248,581)	$	(306,159)
Hedging activities		16,212		21,350
Defined benefit pension plan		(46,918)		(47,966)
Accumulated other comprehensive loss	$	(279,287)	$	(332,775)

Schedule of outstanding finance program obligations

	September 27,		December 28,
	2025		2024
Confirmed obligations outstanding—beginning of period	$	45,602	$	41,916
Invoices confirmed		205,305		216,731
Confirmed invoices paid		(190,102)		(213,045)
Confirmed obligations outstanding—end of period	$	60,805	$	45,602