COMMITMENTS |
12 Months Ended |
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Jan. 03, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS | COMMITMENTS The Company is obligated under noncancelable operating leases. Refer to Note 21 to the Company's financial statements in this Form 10-K for additional information related to future lease payments.
The Company has entered into licensing agreements that provide the Company rights to market products under trademarks owned by other parties. Royalties under these agreements are recognized within "cost of goods sold" in the statements of operations. Certain of these agreements contain minimum royalty and minimum advertising requirements. As of December 2025, future minimum
royalty payments, including any required advertising payments, are $2.2 million, $1.4 million, $1.2 million, $0.1 million and $0.1 million for 2026 through 2030, respectively. There are currently $0.2 million in contractual payments due beyond 2030.
In the ordinary course of business, the Company has entered into purchase commitments for raw materials, contract production and finished products. As of December 2025, these agreements will require total payments of $576.1 million, $1.6 million, $1.6 million and $0.4 million for 2026 through 2029, respectively.
The Company has entered into commitments for (i) service and maintenance agreements related to management information systems, (ii) capital spending and (iii) advertising. As of December 2025, future payments under these agreements are $38.1 million, $21.1 million, $11.3 million, $2.7 million and $1.6 million for 2026 through 2030, respectively. There are currently $0.9 million in contractual payments due beyond 2030.
Surety bonds, customs bonds, standby letters of credit and international bank guarantees, all of which represent contingent guarantees of performance under self-insurance and other programs, totaled $52.6 million as of December 2025. These commitments would only be drawn upon if the Company were to fail to meet related claims or other obligations.
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- References No definition available.
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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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