Risk Management and Derivatives (Tables)

9 Months Ended

Sep. 28, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Amounts Affecting Unaudited Condensed Consolidated Statements of Operations and Comprehensive (loss) income

The following table presents the amounts affecting the unaudited condensed consolidated statements of operations and comprehensive (loss) income (in thousands):

	(Loss) Gain Recognized in Other Comprehensive (Loss) Income						(Loss) Gain Recognized in Other Comprehensive (Loss) Income
	Three Months Ended						Nine Months Ended
	September 28, 2024			September 30, 2023			September 28, 2024			September 30, 2023
Derivatives designated as cash flow hedges
Interest rate derivative contracts	$	(17,564	)	$	(260	)	$	(6,681	)	$	1,707

	(Gain) Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income					(Gain) Loss Reclassified from Accumulated Other Comprehensive (Loss) Income into Income
	Three Months Ended					Nine Months Ended
	September 28, 2024			September 30, 2023		September 28, 2024			September 30, 2023
Derivatives designated as cash flow hedges
Interest rate derivative contracts	$	(1,857	)	$	173	$	(1,792	)	$	1,570

Credit Risk—The Company is exposed to credit-related losses in the event of nonperformance by counterparties to hedging instruments. The counterparties to all derivative transactions are major financial institutions with at or above investment grade credit ratings. This does not eliminate the Company’s exposure to credit risk with these institutions; however, the Company’s risk is limited to the fair value of the instruments. The Company is not aware of any circumstance or condition that would preclude a counterparty from complying with the terms of the derivative contracts and will continuously monitor the credit worthiness of all its derivative counterparties for any significant adverse changes.