GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The activity in goodwill by segment for the nine months ended September 29, 2024 was as follows:

	December 31, 2023		Currency Translation		September 29, 2024
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
Europe	1,116,521		51,618		1,168,139
Mexico	127,804		(25,073)		102,731
Total	$	1,286,261	$	26,545	$	1,312,806

Schedule of Indefinite and Finite-Lived Intangible Assets

Intangible assets consisted of the following:

	December 31, 2023		Amortization		Currency Translation		September 29, 2024
	(In thousands)
Cost:
Trade names not subject to amortization	$	580,473	$	—	$	25,083	$	605,556
Trade names subject to amortization	112,681		—		1,506		114,187
Customer relationships	441,719		—		8,420		450,139
Accumulated amortization:
Trade names	(57,762)		(2,919)		(251)		(60,932)
Customer relationships	(223,128)		(21,389)		(2,033)		(246,550)
Intangible assets, net	$	853,983	$	(24,308)	$	32,725	$	862,400

Schedule of Intangible Assets Amortization and Estimated Useful Lives

Intangible assets are amortized over the estimated useful lives of the assets as follows:

Customer relationships	3-18 years
Trade names subject to amortization	15-20 years