INCOME TAXES (Tables)

12 Months Ended

Dec. 29, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes by Jurisdiction

Income (loss) before income taxes by jurisdiction is as follows:

	Year Ended
	December 29, 2024		December 31, 2023		December 25, 2022
	(In thousands)
U.S.	$	1,428,497	$	26,887	$	928,709
Foreign	(16,228)		338,335		96,764
Total	$	1,412,269	$	365,222	$	1,025,473

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are set forth below:

	Year Ended
	December 29, 2024		December 31, 2023		December 25, 2022
	(In thousands)
Current
Federal	$	172,269	$	(19,727)	$	169,660
Foreign	113,194		59,326		52,995
State and other	34,752		(3,369)		34,985
Total current	320,215		36,230		257,640
Deferred
Federal	21,334		12,783		14,654
Foreign	(25,697)		(10,573)		5,694
State and other	9,194		4,465		947
Total deferred	4,831		6,675		21,295
Total	$	325,046	$	42,905	$	278,935

Schedule of Income Tax Reconciliation

The following table reconciles the statutory U.S. federal income tax rate to the Company’s effective income tax rate:

	Year Ended
	December 29, 2024		December 31, 2023		December 25, 2022
Federal income tax rate	21.0	%	21.0	%	21.0	%
State tax rate, net	2.4		0.6		3.2
Global intangible low-taxed income	0.1		—		—
Mexico tax audit	—		—		3.8
Intercompany financing	(0.9)		(5.7)		(1.9)
Permanent items	1.7		(0.9)		(0.9)
Difference in U.S. statutory tax rate and foreign country effective tax rate	2.3		5.2		1.2
Rate change	(0.5)		(0.7)		(0.9)
Foreign currency translation	(0.8)		(7.4)		(0.9)
Tax credits	(0.8)		(3.0)		(0.4)
Change in reserve for unrecognized tax benefits	0.1		—		(0.4)
Change in valuation allowance	(0.2)		6.9		2.8
Return to provision	0.1		(4.1)		—
Other	(1.5)		(0.2)		0.6
Total	23.0	%	11.7	%	27.2	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax liabilities and assets are as follows:

	December 29, 2024		December 31, 2023
	(In thousands)
Deferred tax liabilities
PP&E and identified intangible assets	$	495,571	$	519,458
Inventories	93,513		99,144
Incentive compensation	—		8,984
Operating lease assets	63,717		81,942
Other	6,959		2,534
Total deferred tax liabilities	659,760		712,062
Deferred tax assets
U.S. net operating losses	14,603		24,902
Foreign net operating losses	49,166		55,583
Credit carry forwards	20,099		23,985
Allowance for credit losses	3,532		5,167
Accrued liabilities	92,565		81,156
Workers’ compensation	7,172		5,361
Incentive compensation	1,161		—
Operating lease liabilities	63,717		80,823
Advance payments	—		22,774
Interest expense limitations	72,615		93,685
Other	27,918		26,428
Total deferred tax assets	352,548		419,864
Valuation allowance	(86,257)		(88,460)
Net deferred tax assets	266,291		331,404
Net deferred tax liabilities	$	393,469	$	380,658

Summary of Valuation Allowance

	Beginning Balance		Additions		Deductions		Ending Balance
	(In thousands)
Valuation allowance
2024	$	88,460	$	637	$	(2,840)	$	86,257
2023	64,361		25,296		(1,197)		88,460
2022	24,261		43,188		(3,088)		64,361

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

	December 29, 2024		December 31, 2023
	(In thousands)
Unrecognized tax benefits, beginning of year	$	37,565	$	27,585
Increase as a result of tax positions taken during prior years	—		17,415
Decrease for lapse in statute of limitations	(8,300)		(7,201)
Decrease for tax positions of prior years	(296)		(234)
Unrecognized tax benefits, end of year	$	28,969	$	37,565