Derivatives and Fair Value Measurements (Tables)

9 Months Ended

Jun. 29, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

The tables below presents information regarding the fair values of derivative instruments and the effects of derivative instruments on the Company’s Condensed Consolidated Financial Statements:

Fair Values of Derivative Instruments (in thousands)
	Derivative Assets					Derivative Liabilities
		June 29, 2024		September 30, 2023			June 29, 2024		September 30, 2023
Derivatives designated as hedging instruments	Balance sheet classification	Fair Value		Fair Value		Balance sheet classification	Fair Value		Fair Value
Foreign currency forward contracts	Prepaid expenses and other	$	183	$	2,610	Other accrued liabilities	$	3,772	$	7,590

Fair Values of Derivative Instruments (in thousands)
	Derivative Assets					Derivative Liabilities
		June 29, 2024		September 30, 2023			June 29, 2024		September 30, 2023
Derivatives not designated as hedging instruments	Balance sheet classification	Fair Value		Fair Value		Balance sheet classification	Fair Value		Fair Value
Foreign currency forward contracts	Prepaid expenses and other	$	590	$	1,337	Other accrued liabilities	$	567	$	2,669

Schedule of Derivative Impact on Accumulated Other Comprehensive (Loss) Income

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands)
for the Three Months Ended
Derivatives in cash flow hedging relationships	Amount of Loss Recognized in OCL on Derivatives
	June 29, 2024		July 1, 2023
Foreign currency forward contracts	$	(5,731)	$	(5,523)

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands)
for the Nine Months Ended
Derivatives in cash flow hedging relationships	Amount of (Loss) Gain Recognized in OCL on Derivatives
	June 29, 2024		July 1, 2023
Foreign currency forward contracts	$	(2,939)	$	4,201

Schedule of Derivative Impact on Gain (Loss) Recognized in Income

Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands)
for the Three Months Ended
Derivatives in cash flow hedging relationships	Classification of (Loss) Gain Reclassified from Accumulated OCL into Income	Amount of (Loss) Gain Reclassified from Accumulated OCL into Income
		June 29, 2024		July 1, 2023
Foreign currency forward contracts	Cost of sales	$	(313)	$	1,047
Foreign currency forward contracts	Selling and administrative expenses	(21)		60

Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands)
for the Nine Months Ended
Derivatives in cash flow hedging relationships	Classification of (Loss) Gain Reclassified from Accumulated OCL into Income	Amount of (Loss) Gain Reclassified from Accumulated OCL into Income
		June 29, 2024		July 1, 2023
Foreign currency forward contracts	Cost of sales	$	(4,093)	$	(569)
Foreign currency forward contracts	Selling and administrative expenses	(237)		37

Schedule of Amount of Gain (Loss) on Derivatives Recognized in Income

Derivatives not designated as hedging instruments	Location of Loss Recognized on Derivatives in Income	Amount of Loss on Derivatives Recognized in Income
		June 29, 2024		July 1, 2023
Foreign currency forward contracts	Miscellaneous, net	$	(385)	$	(574)

Derivatives not designated as hedging instruments	Location of Gain (Loss) Recognized on Derivatives in Income	Amount of Gain (Loss) on Derivatives Recognized in Income
		June 29, 2024		July 1, 2023
Foreign currency forward contracts	Miscellaneous, net	$	1,286	$	(511)

Schedule of Derivatives Fair Value Measurements Using Input Levels

The following table lists the fair values of the Company’s derivatives as of June 29, 2024 and September 30, 2023 by input level:

Fair Value Measurements Using Input Levels Liability (in thousands)
Fiscal period ended June 29, 2024	Level 1		Level 2		Level 3		Total
Derivatives
Foreign currency forward contracts	$	—	$	3,566	$	—	$	3,566
Fiscal period ended September 30, 2023
Derivatives
Foreign currency forward contracts	$	—	$	6,312	$	—	$	6,312