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Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 28, 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 LocationSeptember 28, 2024December 30, 2023
Derivatives not designated as hedging instruments:
Cross currency swapsDerivative asset – non-current$— $20,831 
Total derivatives in an asset position$— $20,831 
Forward contractsAccounts payable and accrued liabilities$1,225 $384 
Cross currency swapsAccounts payable and accrued liabilities— 466 
Total derivatives in a liability position$1,225 $850 
Derivatives designated as hedging instruments:
Interest rate swapsDerivative asset – current$— $7,691 
Interest rate swapsDerivative asset – non-current— 2,688 
Total derivatives in an asset position$— $10,379 
Total deferred gainAccumulated other comprehensive income$7,068 $13,045 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The impact of derivative financial instruments on the unaudited interim condensed consolidated statements of operations and comprehensive income (loss) was as follows:
Thirteen Weeks EndedThirty-Nine Weeks Ended
(in thousands)September 28, 2024September 30, 2023September 28, 2024September 30, 2023
(Loss) gain on forward contracts recognized in gain (loss) on foreign currency, net$(1,193)$555 $(733)$(134)
Gain on cross currency swaps recognized in gain (loss) on foreign currency, net$— $6,933 $7,647 $3,003 
Gain on interest rate swaps recognized in interest expense, net$2,637 $2,961 $8,341 $8,084 
Schedule of Accumulated Other Comprehensive (Loss) Income
The table below presents the effect of cash flow hedge accounting on other comprehensive income (loss), net of tax:
Thirteen Weeks EndedThirty-Nine Weeks Ended
(in thousands)September 28, 2024September 30, 2023September 28, 2024September 30, 2023
Gain recognized in other comprehensive loss$— $1,655 $2,364 $5,170 
Gain reclassified from accumulated other comprehensive income into net income (loss)$2,637 $2,962 $8,341 $8,085