Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 28, 2024

Net Sales by Sales Channel Category

Net sales by sales channel category are as follows for Fiscal 2024, 2023, and 2022 (amounts in thousands):

	Fiscal 2024		Fiscal 2023		Fiscal 2022
Branded Retail	$	3,262,044	$	3,264,742	$	3,139,306
Other		1,841,443		1,826,088		1,666,516
Total	$	5,103,487	$	5,090,830	$	4,805,822

(The table above presents certain sales by category that have been reclassified from amounts previously reported to conform to the current period presentation.)

Allowance for Doubtful Accounts Activity

Activity in the allowance for doubtful accounts is as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
Fiscal 2024	$	33,386	$	8,304	$	(23,768	)	$	17,922
Fiscal 2023	$	18,764	$	8,412	$	6,210		$	33,386
Fiscal 2022	$	15,398	$	8,518	$	(5,152	)	$	18,764

Allowance for Trade Accounts Receivable Credit Losses Activity

Activity in the allowance for trade accounts receivable credit losses for Fiscal 2024, 2023 and 2022 was as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Recoveries and other			Ending Balance
Fiscal 2024	$	2,070	$	2,095	$	(1,035	)	$	(667	)	$	2,463
Fiscal 2023	$	2,188	$	3,089	$	(2,635	)	$	(572	)	$	2,070
Fiscal 2022	$	2,552	$	2,270	$	(2,721	)	$	87		$	2,188

Weighted Percentage of Net Sales from Largest Customers

Our largest customer’s, Walmart/Sam’s Club, weighted percent of net sales for Fiscal 2024, 2023, and 2022 was as follows:

	Percent of Net Sales
Fiscal 2024		22.4	%
Fiscal 2023		22.3	%
Fiscal 2022		21.7	%

Estimated Useful Lives by Property Plant and Equipment Class

The table below presents the range of estimated useful lives by property, plant and equipment class.

	Useful life term (years)
Asset Class	Low	High
Buildings	10	40
Machinery and equipment	3	15
Furniture, fixtures and transportation equipment	3	12

Schedule of Depreciation Expense

Depreciation expense, excluding amortization of right-of-use financing leases, for Fiscal 2024, 2023, and 2022 was as follows (amounts in thousands):

	Depreciation expense
Fiscal 2024	$	127,577
Fiscal 2023	$	117,788
Fiscal 2022	$	108,500

Inventory Valuation Reserve

Summary of Valuation Allowance

Activity in the inventory reserve allowance is as follows (amounts in thousands):

	Beginning Balance		Charged to Expense		Write-Offs and Other			Ending Balance
Fiscal 2024	$	696	$	4,367	$	(5,005	)	$	58
Fiscal 2023	$	1,036	$	2,376	$	(2,716	)	$	696
Fiscal 2022	$	284	$	3,679	$	(2,927	)	$	1,036

Valuation Allowance of Deferred Tax Assets

Summary of Valuation Allowance

The deductions column in the table below presents the amounts reduced in the deferred tax asset valuation allowance that were recorded to, and included as part of, deferred tax expense. The additions column represents amounts that increased the allowance.

Activity in the deferred tax asset valuation allowance is as follows (amounts in thousands):

	Beginning Balance		Deductions		Additions		Ending Balance
Fiscal 2024	$	1,586	$	—	$	1,801	$	3,387
Fiscal 2023	$	1,030	$	—	$	556	$	1,586
Fiscal 2022	$	1,030	$	—	$	—	$	1,030