Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 29, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The fair value of forward contracts were as follows:

(in thousands)	Balance Sheet Location	March 29, 2025		December 28, 2024
Forward contracts not designated as hedging instruments	Derivative asset – current	$	3,045	$	4,574

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 Loss was as follows:

	Thirteen Weeks Ended
(in thousands)	March 29, 2025		March 30, 2024
Loss (gain) on forward contracts recognized in (gain) loss on foreign currency, net	$	345	$	(271)
Gain on cross currency swaps recognized in (gain) loss on foreign currency, net	$	—	$	(5,614)
Gain on interest rate swaps recognized in interest expense, net	$	(2,636)	$	(3,024)

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 Ended
(in thousands)	March 29, 2025		March 30, 2024
Gain recognized in other comprehensive loss	$	—	$	2,199
Gain reclassified from accumulated other comprehensive income into net loss	$	2,636	$	3,024