DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
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9 Months Ended |
Oct. 03, 2026 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Derivative Instruments |
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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September |
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December |
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September |
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September |
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December |
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September |
| (In thousands) |
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2026 |
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2025 |
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2025 |
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2026 |
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2025 |
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2025 |
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| Derivatives designated as hedging instruments: |
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| Foreign currency exchange contracts |
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$ |
19,247 |
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$ |
11,373 |
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$ |
8,854 |
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$ |
(6,362) |
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$ |
(9,641) |
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$ |
(9,580) |
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| Interest rate swap agreements |
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6,570 |
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279 |
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1,081 |
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— |
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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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2,617 |
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— |
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31 |
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(3,122) |
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(255) |
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— |
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| Total derivatives |
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$ |
28,434
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$ |
11,652
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$ |
9,966
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$ |
(9,484) |
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$ |
(9,896) |
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$ |
(9,580) |
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The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
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September 2026 |
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December 2025 |
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September 2025 |
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| (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 |
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Derivative Asset |
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Derivative Liability |
| Gross amounts presented in the balance sheet |
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$ |
28,434 |
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$ |
(9,484) |
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$ |
11,652 |
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$ |
(9,896) |
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$ |
9,966 |
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$ |
(9,580) |
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| Gross amounts not offset in the balance sheet |
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(7,464) |
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7,464 |
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(3,043) |
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3,043 |
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(2,523) |
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2,523 |
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| Net amounts |
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$ |
20,970
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$ |
(2,020) |
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$ |
8,609
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$ |
(6,853) |
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$ |
7,443
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$ |
(7,057) |
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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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September 2026 |
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December 2025 |
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September 2025 |
| Prepaid expenses and other current assets |
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$ |
17,951 |
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$ |
9,906 |
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$ |
6,032 |
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| Accrued and other current liabilities |
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(9,262) |
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(8,546) |
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(7,791) |
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| Other assets |
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10,483 |
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1,746 |
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3,934 |
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| Other liabilities |
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(222) |
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(1,350) |
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(1,789) |
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| Schedule of Pre-Tax Effects of Cash Flow Hedges Included in the Statement of Operations and 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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Three Months Ended September |
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Nine Months Ended September |
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| Cash Flow Hedging Relationships |
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2026 |
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2025 |
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2026 |
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2025 |
| Foreign currency exchange contracts |
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$ |
1,316 |
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$ |
7,303 |
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$ |
14,811 |
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$ |
383 |
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| Interest rate swap agreements |
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3,210 |
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519 |
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7,262 |
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(1,584) |
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| Total |
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$ |
4,526
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$ |
7,822
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$ |
22,073
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$ |
(1,201) |
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Gain (Loss) Reclassified from AOCL into Income from Continuing Operations |
| (In thousands) |
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Three Months Ended September |
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Nine Months Ended September |
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| Location of Gain (Loss) |
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2026 |
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2025 |
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2026 |
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2025 |
| Net revenues |
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$ |
2,790 |
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$ |
(87) |
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$ |
5,315 |
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$ |
(576) |
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| Cost of goods sold |
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(790) |
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(234) |
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(2,756) |
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(2,014) |
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| Other income (expense), net |
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84 |
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(241) |
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130 |
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(9) |
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| Interest expense |
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321 |
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1,544 |
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971 |
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2,725 |
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| Total |
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$ |
2,405
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$ |
982
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$ |
3,660
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$ |
126
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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 from continuing 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 September |
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Nine Months Ended September |
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2026 |
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2025 |
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2026 |
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2025 |
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| Foreign currency exchange contracts |
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Net revenues |
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$ |
(14) |
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$ |
139 |
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$ |
288 |
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$ |
139 |
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| Foreign currency exchange contracts |
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Cost of goods sold |
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34 |
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946 |
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65 |
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875 |
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| Foreign currency exchange contracts |
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Other income (expense), net |
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(2,005) |
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— |
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(2,542) |
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24,106 |
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| Total |
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$ |
(1,985) |
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$ |
1,085
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$ |
(2,189) |
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$ |
25,120
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