XML 22 R10.htm IDEA: XBRL DOCUMENT v3.25.2
Investments in and Advances to Unconsolidated Companies
 6 Months Ended
Jun. 27, 2025
Investments in and Advances to Affiliates [Abstract]  
Investments in and Advances to Unconsolidated Companies Investments in and Advances to Unconsolidated Companies
Investments in and advances to unconsolidated companies amounted to $54.1 million as of June 27, 2025 and $39.9 million as of December 27, 2024. These investments are accounted for under the equity method of accounting, and primarily relate to investments in limited partnerships and joint ventures in the food, nutrition and agricultural technology sectors. Our investments in unconsolidated companies include investments in companies who qualify as investment companies pursuant to Accounting Standards Codification Topic 946, Financial Services - Investment Companies ("ASC 946") and, accordingly, are carried at net asset value ("NAV"), which approximates fair value. Our investments in unconsolidated companies who qualify as investment companies under ASC 946, which make up approximately $45.6 million of the balance as of June 27, 2025 and $32.3 million of the balance as of December 27, 2024, cannot be redeemed, but the funds will make distributions through liquidation. The estimate of the liquidation period varies from 2027 to 2037. Total unfunded commitments related to our investments in and advances to unconsolidated companies as of June 27, 2025 were $2.6 million.
Our proportionate share of income related to these unconsolidated companies was $7.8 million and $3.6 million for the quarters ended June 27, 2025 and June 28, 2024, respectively, and $7.8 million and $3.4 million for the six months ended June 27, 2025 and June 28, 2024, respectively. These amounts are included in "Other (income) expense, net" in the Consolidated Statements of Operations. Distributions received from these investments were $0.3 million for the quarter ended June 27, 2025 and $1.1 million for the six months ended June 27, 2025. No distributions were received from these investments for the quarter and six months ended June 28, 2024.