LEASES (Tables)

3 Months Ended

Mar. 29, 2026

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense for the three months ended March 29, 2026 and March 30, 2025 were as follows:  

		Three Months Ended
Lease expense	Classification	March 29, 2026		March 30, 2025
Operating lease cost	Cost of sales or SM&A (1)	$	16,382	$	14,211
Finance lease cost:
Amortization of ROU assets	Depreciation and amortization (1)	2,224		2,250
Interest on lease liabilities	Interest expense, net	1,169		1,134
Net lease cost (2)		$	19,775	$	17,595

(1)Supply chain-related amounts were included in cost of sales.

(2)Net lease cost does not include short-term leases, variable lease costs or sublease income, all of which are immaterial.

Information regarding our lease terms and discount rates were as follows:

	March 29, 2026		December 31, 2025
Weighted-average remaining lease term (years)
Operating leases	10.2		10.2
Finance leases	24.2		25.2
Weighted-average discount rate
Operating leases	4.6	%	4.6	%
Finance leases	6.2	%	6.3	%

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases were as follows:

Leases	Classification	March 29, 2026		December 31, 2025
Assets
Operating lease ROU assets	Other non-current assets	$	312,599	$	325,345
Finance lease ROU assets, at cost	Property, plant and equipment, gross	85,056		83,714
Accumulated amortization	Accumulated depreciation	(25,987)		(26,073)
Finance lease ROU assets, net	Property, plant and equipment, net	59,069		57,641
Total leased assets		$	371,668	$	382,986
Liabilities
Current
Operating	Accrued liabilities	$	49,676	$	49,583
Finance	Current portion of long-term debt	5,213		4,499
Non-current
Operating	Other long-term liabilities	273,573		285,925
Finance	Long-term debt	70,928		69,011
Total lease liabilities		$	399,390	$	409,018

The components of certain asset accounts included within our Consolidated Balance Sheets are as follows:

	March 29, 2026		December 31, 2025
Inventories:
Raw materials	$	854,748	$	762,391
Goods in process	344,629		294,374
Finished goods	924,985		1,074,690
Inventories at First In First Out	2,124,362		2,131,455
Adjustment to Last In First Out	(695,238)		(702,201)
Total inventories	$	1,429,124	$	1,429,254
Prepaid expenses and other:
Prepaid expenses	$	163,412	$	201,527
Other current assets	324,444		302,712
Total prepaid expenses and other	$	487,856	$	504,239
Property, plant and equipment:
Land	$	199,454	$	199,559
Buildings	2,110,533		2,102,794
Machinery and equipment	4,530,712		4,515,447
Construction in progress	334,738		324,998
Property, plant and equipment, gross	7,175,437		7,142,798
Accumulated depreciation	(3,686,275)		(3,613,190)
Property, plant and equipment, net	$	3,489,162	$	3,529,608
Other non-current assets:
Pension	$	62,390	$	64,520
Capitalized software, net	341,430		351,285
Operating lease ROU assets	312,599		325,345
Investments in unconsolidated affiliates	179,399		176,567
Other non-current assets	215,827		205,568
Total other non-current assets	$	1,111,645	$	1,123,285

The components of certain liability and stockholders’ equity accounts included within our Consolidated Balance Sheets are as follows:
	March 29, 2026		December 31, 2025
Accounts payable:
Accounts payable—trade	$	986,784	$	831,204
Supplier finance program obligations	265,776		300,332
Other	51,143		124,165
Total accounts payable	$	1,303,703	$	1,255,701
Accrued liabilities:
Payroll, compensation and benefits	$	177,385	$	311,241
Advertising, promotion and product allowances	448,865		373,940
Operating lease liabilities	49,676		49,583
Other	250,247		235,833
Total accrued liabilities	$	926,173	$	970,597
Other long-term liabilities:
Post-retirement benefits liabilities	$	96,390	$	98,101
Pension benefits liabilities	37,075		42,987
Operating lease liabilities	273,573		285,925
Other	269,809		304,904
Total other long-term liabilities	$	676,847	$	731,917
Accumulated other comprehensive loss:
Foreign currency translation adjustments	$	(141,624)	$	(136,508)
Pension and post-retirement benefit plans, net of tax	(106,161)		(107,620)
Cash flow hedges, net of tax	(2,126)		(3,222)
Total accumulated other comprehensive loss	$	(249,911)	$	(247,350)

Schedule of Maturity of Operating Lease Liabilities

The maturities of our lease liabilities as of March 29, 2026 were as follows:

	Operating leases		Finance leases		Total
2026 (rest of year)	$	47,528	$	7,468	$	54,996
2027	61,276		8,440		69,716
2028	42,684		7,186		49,870
2029	38,739		4,510		43,249
2030	32,006		4,339		36,345
Thereafter	190,434		129,333		319,767
Total lease payments	412,667		161,276		573,943
Less: Imputed interest	89,418		85,135		174,553
Total lease liabilities	$	323,249	$	76,141	$	399,390

Schedule of Maturity of Finance Lease Liabilities

The maturities of our lease liabilities as of March 29, 2026 were as follows:

	Operating leases		Finance leases		Total
2026 (rest of year)	$	47,528	$	7,468	$	54,996
2027	61,276		8,440		69,716
2028	42,684		7,186		49,870
2029	38,739		4,510		43,249
2030	32,006		4,339		36,345
Thereafter	190,434		129,333		319,767
Total lease payments	412,667		161,276		573,943
Less: Imputed interest	89,418		85,135		174,553
Total lease liabilities	$	323,249	$	76,141	$	399,390

Schedule of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow and other information related to leases were as follows:

	Three Months Ended
	March 29, 2026		March 30, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	15,931	$	13,538
Operating cash flows from finance leases	1,169		1,134
Financing cash flows from finance leases	1,615		1,798
ROU assets obtained in exchange for lease liabilities:
Operating leases	$	—	$	29,501
Finance leases	4,352		62