Derivative Financial Instruments (Tables)

3 Months Ended

Apr. 04, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The fair value of derivative financial instruments were as follows:

		April 4, 2026
(in thousands)	Balance Sheet Location	Derivatives in an Asset Position		Derivatives in a Liability Position
Derivatives not designated as hedging instruments:
Forward contracts	Prepaid expenses and other current assets(1)	$	204	$	(123)
Forward contracts	Accounts payable and accrued liabilities(1)	129		(146)
Cross currency swaps	Prepaid expenses and other current assets	1,504		—
Cross currency swaps	Other liabilities	—		(4,796)
Total		$	1,837	$	(5,065)
Derivatives designated as hedging instruments:
Interest rate swaps	Prepaid expenses and other current assets	$	1,558	$	—
Interest rate swaps	Other assets	1,683		—
Total		$	3,241	$	—
Total deferred gain on interest rate swaps(2)	Accumulated other comprehensive income	$	3,163	$	—

(1)Derivatives subject to master netting agreements are presented net on the unaudited interim Condensed Consolidated Balance Sheets.

(2)Presented gross of immaterial income taxes.

		January 3, 2026
(in thousands)	Balance Sheet Location	Derivatives in an Asset Position		Derivatives in a Liability Position
Derivatives not designated as hedging instruments:
Forward contracts	Accounts payable and accrued liabilities(1)	$	339	$	(688)
Cross currency swaps	Prepaid expenses and other current assets	1,617		—
Cross currency swaps	Other liabilities	—		(2,363)
Total		$	1,956	$	(3,051)
Derivatives designated as hedging instruments:
Interest rate swaps	Prepaid expenses and other current assets	$	42	$	—
Interest rate swaps	Accounts payable and accrued liabilities(1)	29		—
Interest rate swaps	Other liabilities	—		(1,210)
Total		$	71	$	(1,210)
Total deferred loss on interest rate swaps(2)	Accumulated other comprehensive income	$	—	$	(1,221)

(1)Derivatives subject to master netting agreements are presented net on the unaudited interim Condensed Consolidated Balance Sheets.

(2)Presented gross of immaterial income taxes.

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)	April 4, 2026		March 29, 2025
Loss on forward contracts recognized in loss (gain) on foreign currency, net	$	186	$	345
Loss on cross currency swaps recognized in loss (gain) on foreign currency, net	$	2,190	$	—
Gain on interest rate swaps recognized in interest expense, net	$	(428)	$	(2,636)

Schedule of Comprehensive (Loss) Income

The table below presents the effect of cash flow hedge accounting on comprehensive loss:

	Thirteen Weeks Ended
(in thousands, gross of immaterial income taxes)	April 4, 2026		March 29, 2025
Gain recognized in other comprehensive loss	$	4,812	$	—
Gain reclassified from accumulated other comprehensive income into net loss	$	428	$	2,636