CONCENTRATION OF RISK	12 Months Ended
Dec. 28, 2024
CONCENTRATION OF RISK
CONCENTRATION OF RISK	15. CONCENTRATION OF RISK Credit Risk Credit risk is the potential financial loss resulting from the failure of a customer or counterparty to settle its financial and contractual obligations to the Company, as and when they become due. The primary credit risk for the Company is its accounts receivable due from customers. The Company has established credit limits for customers and monitors their balances to mitigate the risk of loss. As of December 28, 2024 and December 30, 2023, there was one significant concentration of credit risk. One customer represented 14% of total accounts receivable for 2024 and one customer represented 12% of total accounts receivable in 2023. The maximum exposure to credit risk is primarily represented by the carrying amount of the Company’s accounts receivable. In 2024, this customer had revenues totaling $35.6 million (12% of Engineered Solutions segment total revenue). In 2023, this customer had sales of $29.2 million (10% of Engineered Solutions segment total revenue). Interest Rate Risk The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s debt, which bears interest at variable rates based on term SOFR, plus an adjustment of ten basis points, plus an applicable margin of 1.875% to 2.625%, depending on the Company’s senior net leverage ratio. See Note 6 – Debt for more information regarding the Company’s debt facility.

CONCENTRATION OF RISK

12 Months Ended

Dec. 28, 2024

15. CONCENTRATION OF RISK

Credit Risk

Credit risk is the potential financial loss resulting from the failure of a customer or counterparty to settle its financial and contractual obligations to the Company, as and when they become due. The primary credit risk for the Company is its accounts receivable due from customers. The Company has established credit limits for customers and monitors their balances to mitigate the risk of loss. As of December 28, 2024 and December 30, 2023, there was one significant concentration of credit risk. One customer represented 14% of total accounts receivable for 2024 and one customer represented 12% of total accounts receivable in 2023. The maximum exposure to credit risk is primarily represented by the carrying amount of the Company’s accounts receivable. In 2024, this customer had revenues totaling $35.6 million (12% of Engineered Solutions segment total revenue). In 2023, this customer had sales of $29.2 million (10% of Engineered Solutions segment total revenue).

Interest Rate Risk

The Company’s exposure to the risk of changes in market interest rates relates primarily to the Company’s debt, which bears interest at variable rates based on term SOFR, plus an adjustment of ten basis points, plus an applicable margin of 1.875% to 2.625%, depending on the Company’s senior net leverage ratio. See Note 6 – Debt for more information regarding the Company’s debt facility.