Commodity Derivative Instruments (Tables)

3 Months Ended

Mar. 28, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Pre-tax Changes in Fair Value

The following table summarizes pre-tax changes in the fair values of the Company’s commodity derivative instruments and the classification of such changes in the condensed consolidated statements of operations:

	First Quarter
(in thousands)	2025		2024
Cost of sales	$	(799)	$	(1,156)
Selling, delivery and administrative expenses	165		(43)
Total loss	$	(634)	$	(1,199)

Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments

The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the condensed consolidated balance sheets:

(in thousands)	March 28, 2025		December 31, 2024
Prepaid expenses and other current assets	$	1,838	$	2,472
Total assets	$	1,838	$	2,472

Summary of Gross Derivative Assets and Gross Commodity Derivative Assets and Liabilities in Condensed Consolidated Balance Sheets

The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets:

(in thousands)	March 28, 2025		December 31, 2024
Gross commodity derivative instrument assets	$	1,838	$	2,472
Gross commodity derivative instrument liabilities	—		—

Summary of Outstanding Commodity Derivative Instruments

The following table summarizes the Company’s outstanding commodity derivative instruments:

(in thousands)	March 28, 2025		December 31, 2024
Notional amount of outstanding commodity derivative instruments	$	47,214	$	50,928
Latest maturity date of outstanding commodity derivative instruments	December 2025		December 2025