BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 26, 2022

Accounting Policies [Abstract]

Components of inventories

Inventories consisted of the following:

	March 26, 2022		December 25, 2021
Raw materials and purchased parts	$	297,570	$	278,107
Work-in-process	78,591		63,628
Finished goods and manufactured goods	431,310		387,099
Total Inventory	$	807,471	$	728,834

Earnings before income taxes

Earnings before income taxes for the thirteen weeks ended March 26, 2022 and March 27, 2021, were as follows:    

	Thirteen weeks ended
	2022		2021
United States	$	60,816	$	51,155
Foreign	25,569		19,708
	$	86,385	$	70,863

Schedule of components of the net periodic pension (benefit) expense

The components of the net periodic pension (benefit) expense for the thirteen weeks ended March 26, 2022 and March 27, 2021 were as follows:

	Thirteen weeks ended
Net periodic (benefit) expense:	2022		2021
Interest cost	$	3,365	$	2,497
Expected return on plan assets	(6,202)		(7,005)
Amortization of actuarial loss	132		832
Net periodic (benefit) expense	$	(2,705)	$	(3,676)

Compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options

The Company's compensation expense (included in selling, general and administrative expenses) and associated income tax benefits related to stock options and restricted stock for the thirteen weeks ended March 26, 2022 and March 27, 2021, respectively, were as follows:

	Thirteen weeks ended
	2022		2021
Compensation expense	$	9,463	$	4,671
Income tax benefits	2,366		1,168

Valuation methodologies used for assets and liabilities measured at fair value

			Fair Value Measurement Using:
	Carrying Value March 26, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Trading Securities	$	30,751	$	30,751	$	—	$	—
Derivative financial instruments, net	17,633		—		17,633		—

			Fair Value Measurement Using:
	Carrying Value December 25, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets (Liabilities):
Trading Securities	$	30,076	$	30,076	$	—	$	—
Derivative financial instruments, net	(4,007)		—		(4,007)		—

Components of accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss) consisted of the following at March 26, 2022 and December 25, 2021:

	Foreign Currency Translation Adjustments		Gain on Hedging Activities		Defined Benefit Pension Plan		Accumulated Other Comprehensive Loss
Balance at December 25, 2021	$	(243,350)	$	15,777	$	(35,554)	$	(263,127)
Current-period comprehensive income (loss)	9,969		20,312		686		30,967
Balance at March 26, 2022	$	(233,381)	$	36,089	$	(34,868)	$	(232,160)