Financial Instruments Measured at Fair Value (Tables)

9 Months Ended

Sep. 27, 2025

Financial Instruments Measured at Fair Value

Schedule of assets (liabilities) measured at fair value on a recurring basis

(thousands)	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Cash equivalents (a)	Cash and cash equivalents	$	12,816	$	—	$	—	$	12,816
Equity investments (b)	Other assets		42,211		—		—		42,211
Foreign exchange contracts designated as net investment hedges	Other assets / other current assets		—		16,192		—		16,192
		$	55,027	$	16,192	$	—	$	71,219

(thousands)	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Cash equivalents (a)	Cash and cash equivalents	$	10,751	$	—	$	—	$	10,751
Equity investments (b)	Other assets		42,907		—		—		42,907
Foreign exchange contracts designated as net investment hedges	Other assets / other current assets		—		53,679		—		53,679
		$	53,658	$	53,679	$	—	$	107,337

(a) Cash equivalents include highly liquid investments with an original maturity of less than three months.

(b) The company has an approximately 9.0% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. The company recorded unrealized gains of $3.6 million and $4.1 million for the third quarter and first nine months of 2025, respectively, on equity securities held at the end of the quarter. The company recorded unrealized gains (losses) of $1.6 million and  ($8.5) million for the third quarter and first nine months of 2024, respectively, on equity securities held at the end of the quarter.

Schedule of effects of derivative instruments on the company's consolidated statements of operations and other comprehensive income

		Quarter Ended				Nine Months Ended
		September 27,		September 28,		September 27,		September 28,
(thousands)	Income Statement Line	2025		2024		2025		2024
Gain Recognized in Income
Foreign exchange contracts, net investment hedge (a)	Interest Expense	$	671	$	1,722	$	2,759	$	5,330
Interest rate swaps, cash flow hedge	Interest Expense		565		449		1,672		51
Interest rate swap, fair value hedge (b)	Interest Expense		—		—		—		454
		$	1,236	$	2,171	$	4,431	$	5,835
Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax
Foreign exchange contracts, net investment hedge (c)		$	951	$	(5,110)	$	(9,616)	$	2,610
Interest rate swaps, cash flow hedges			—		(684)		—		(684)
		$	951	$	(5,794)	$	(9,616)	$	1,926

(a) Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from foreign currency translation adjustments to “Interest and other financing expense, net”.

(b) The cumulative amount of fair value hedging adjustments to the carrying value of hedged debt instruments totaled a loss of $0.4 million for first quarter of 2024. During the first quarter of 2024, the fair value hedge was terminated.

(c) Includes derivative gains (losses) of $0.8 million and ($10.0) million for the third quarter and first nine months of 2025, respectively, and ($3.5) million and ($2.1) million for the third quarter and first nine months of 2024, respectively, which were excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income (loss), net of tax.

Foreign exchange contract | Designated as hedging instrument

Financial Instruments Measured at Fair Value

Schedule of description of types of hedging instruments used

	Notional Amount (thousands)
Maturity Date	September 27, 2025		December 31, 2024
April 2025	EUR	—	EUR	100,000
January 2028	EUR	100,000	EUR	100,000
	EUR	100,000	EUR	200,000