Sales of Accounts Receivable

6 Months Ended

Jul. 01, 2023

Receivables [Abstract]

Sales of Accounts Receivable

Sales of Accounts ReceivableWe have entered several customer-sponsored programs administered by unrelated financial institutions that permit us to sell (factor) certain accounts receivable at discounted rates to the financial institutions. Transactions under these agreements were accounted for as sales of accounts receivable and the related accounts receivable were removed from our Condensed Consolidated Balance Sheets at the times of the sales transactions. Sales of accounts receivable under these agreements, and related factoring costs, which were included in selling, general and administrative expenses, were as follows:

	Three Months Ended				Six Months Ended
(in thousands)	July 1, 2023		June 25, 2022		July 1, 2023		June 25, 2022
Sales of accounts receivable	$	241,937	$	262,897	$	479,677	$	538,126
Factoring costs	11,895		8,268		25,419		13,161