DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 30, 2023

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of Fair Value of Derivative Instruments

The fair value of derivative instruments as of December 30, 2023 and December 31, 2022 was as follows:

		December 30,		December 31,
Derivatives designated as hedging instruments:	Balance Sheets location	2023		2022
Commodity contracts	Prepaid expenses and other current assets	$	2,520	$	—
Commodity contracts	Other accrued expenses		(1,586)		(3,854)
Foreign currency forward contracts	Prepaid expenses and other current assets		—		83
Cross currency swap contracts	Prepaid expenses and other current assets		1,938		5,385
Cross currency swap contracts	Other accrued expenses		(12)		(210)
		$	2,860	$	1,404

Schedule of Gains (Losses) on Derivatives Recognized on Statements of Earnings

		December 30,		December 31,
Derivatives designated as hedging instruments:	Balance Sheets location	2023		2022
Commodity contracts	Prepaid expenses and other current assets	$	2,520	$	—
Commodity contracts	Other accrued expenses		(1,586)		(3,854)
Foreign currency forward contracts	Prepaid expenses and other current assets		—		83
Cross currency swap contracts	Prepaid expenses and other current assets		1,938		5,385
Cross currency swap contracts	Other accrued expenses		(12)		(210)
		$	2,860	$	1,404

Cash Flow Hedging

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of notional amounts of outstanding derivative

	Notional		Total
Commodity Type	Amount		Purchase Quantity	Maturity Dates
Hot rolled steel coil	$	7,844	8,500 short tons	December 2023 to April 2024
Natural gas		4,272	960,475 MMBtu	January 2024 to October 2025
Diesel fuel		542	1,890,000 gallons	January 2024 to September 2024

Net Investment Hedging

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of notional amounts of outstanding derivative

	Notional			Swapped	Set Settlement
Currency	Amount		Termination Date	Interest Rate	Amount
Euro	$	80,000	April 1, 2024	2.825%	€	71,550