Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cross Currency Swap Contracts, Forward Contracts, and Interest Rate Swaps

The fair values of cross currency swap contracts, forward contracts and interest rate swap contracts were as follows:

(in thousands)	Balance Sheet Location	June 29, 2024		December 30, 2023
Derivatives not designated as hedging instruments:
Forward contracts	Derivative asset – current	$	52	$	—
Cross currency swaps	Derivative asset – non-current	—		20,831
Total derivatives in an asset position		$	52	$	20,831
Forward contracts	Accounts payable and accrued liabilities	$	26	$	384
Cross currency swaps	Accounts payable and accrued liabilities	—		466
Total derivatives in a liability position		$	26	$	850
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative asset – current	$	—	$	7,691
Interest rate swaps	Derivative asset – non-current	—		2,688
Total derivatives in an asset position		$	—	$	10,379
Total deferred gain	Accumulated other comprehensive income	$	9,705	$	13,045

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The impact of derivative financial instruments on the unaudited interim condensed consolidated statements of operations and comprehensive income was as follows:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Gain (loss) on forward contracts recognized in (loss) gain on foreign currency, net	$	189	$	(624)	$	460	$	(689)
Gain (loss) on cross currency swaps recognized in (loss) gain on foreign currency, net	$	2,033	$	(4,619)	$	7,647	$	(3,930)
Gain on interest rate swaps recognized in interest expense, net	$	2,680	$	2,729	$	5,704	$	5,123

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income, net of tax:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
(in thousands)	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Gain recognized in other comprehensive (loss) income	$	165	$	4,768	$	2,364	$	3,515
Gain reclassified from accumulated other comprehensive income into net income	$	2,680	$	2,729	$	5,704	$	5,123