DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
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12 Months Ended |
Jan. 03, 2026 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Outstanding Derivatives on Individual Contract Basis |
The following table presents the fair value of outstanding derivatives on an individual contract basis:
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Fair Value of Derivatives with Unrealized Gains |
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Fair Value of Derivatives with Unrealized Losses |
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| (In thousands) |
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December 2025 |
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December 2024 |
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December 2025 |
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December 2024 |
| Derivatives designated as hedging instruments: |
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| Foreign currency exchange contracts |
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$ |
11,373 |
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$ |
7,720 |
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$ |
(9,641) |
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$ |
(11,620) |
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| Interest rate swap agreements |
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279 |
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5,390 |
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— |
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— |
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| Derivatives not designated as hedging instruments: |
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| Foreign currency exchange contracts |
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— |
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— |
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(255) |
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— |
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| Total derivatives |
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$ |
11,652
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$ |
13,110
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$ |
(9,896) |
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$ |
(11,620) |
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| Schedule of Fair Value of Derivative Assets and Liabilities in Balance Sheet |
The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
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December 2025 |
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December 2024 |
| (In thousands) |
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Derivative Asset |
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Derivative Liability |
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Derivative Asset |
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Derivative Liability |
| Gross amounts presented in the balance sheet |
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$ |
11,652 |
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$ |
(9,896) |
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$ |
13,110 |
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$ |
(11,620) |
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| Gross amounts not offset in the balance sheet |
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(3,043) |
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3,043 |
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(3,468) |
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3,468 |
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| Net amounts |
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$ |
8,609
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$ |
(6,853) |
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$ |
9,642
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$ |
(8,152) |
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| Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates |
The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates:
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| (In thousands) |
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December 2025 |
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December 2024 |
| Prepaid expenses and other current assets |
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$ |
9,906 |
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$ |
5,845 |
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| Accrued and other current liabilities |
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(8,546) |
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(10,659) |
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| Other assets |
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1,746 |
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7,265 |
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| Other liabilities |
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(1,350) |
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(961) |
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| Schedule of Effects of Cash Flow Hedging Included in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income |
The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income:
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Gain (Loss) on Derivatives Recognized in AOCL |
| (In thousands) |
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Year Ended December |
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| Cash Flow Hedging Relationships |
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2025 |
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2024 |
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2023 |
| Foreign currency exchange contracts |
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$ |
2,704 |
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$ |
(6,164) |
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$ |
22,590 |
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| Interest rate swap agreements |
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(1,431) |
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6,084 |
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1,829 |
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| Total |
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$ |
1,273
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$ |
(80) |
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$ |
24,419
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Gain (Loss) Reclassified from AOCL into Income |
| (In thousands) |
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Year Ended December |
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| Location of Gain (Loss) |
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2025 |
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2024 |
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2023 |
| Net revenues |
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$ |
(1,409) |
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$ |
(2,019) |
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$ |
(219) |
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| Cost of goods sold |
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(3,287) |
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17,476 |
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23,588 |
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| Other income (expense), net |
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47 |
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361 |
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527 |
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| Interest expense |
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3,680 |
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3,947 |
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9,933 |
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| Total |
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$ |
(969) |
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$ |
19,765
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$ |
33,829
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| Schedule of Derivatives Not Designated as Hedging Instruments |
The following table presents a summary of derivatives not designated as hedges included in the Company's statements of operations:
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| (In thousands) |
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Location of Gain (Loss) on Derivatives Recognized in Income |
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Gain (Loss) on Derivatives Recognized in Income |
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| Derivatives Not Designated as Hedges |
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Three Months Ended December |
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Twelve Months Ended December |
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2025 |
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2024 |
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2025 |
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2024 |
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| Foreign currency exchange contracts |
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Net revenues |
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$ |
(384) |
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$ |
— |
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$ |
(245) |
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$ |
— |
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| Foreign currency exchange contracts |
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Cost of goods sold |
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(52) |
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— |
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823 |
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6 |
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| Foreign currency exchange contracts |
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Other income (expense), net |
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90 |
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(2) |
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24,196 |
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(12) |
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| Total |
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$ |
(346) |
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$ |
(2) |
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$ |
24,774
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$ |
(6) |
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