Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 28, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of derivative instruments

The fair values of derivative instruments are as follows (in thousands):

		Fair Value
	Classification	December 28, 2019		December 29, 2018
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets	$	1,855	$	551
Foreign currency forward contracts	Accrued expenses	297		—
Derivatives designated as cash flow hedges:
Foreign currency forward contracts	Other current assets	$	4,347	$	53
Foreign currency forward contracts	Other assets	9,112		172
Foreign currency forward contracts	Accrued expenses	47		335
Foreign currency forward contracts	Long-term liabilities	414		795

Schedule of derivative instruments gain (loss)

Gains (losses) associated with derivative instruments not designated as hedging instruments are as follows (in thousands):

		Fiscal year ended
	Classification	December 28, 2019		December 29, 2018
Gain (loss) recognized in income	Other income, net	$	89	$	1,568

The following tables reflect the effect of derivatives designated as cash flow hedging for the years ended (in thousands): 

	Gain (loss) recognized in OCI on Derivative (1)
	Fiscal year ended
	December 28, 2019		December 29, 2018
Foreign currency forward contracts	$	16,483	$	(686	)

(1) The amount represents the change in fair value of derivative contracts due to changes in spot rates.

	Gain (loss) recognized in earnings on cash flow hedging instruments
	December 28, 2019				December 29, 2018
	Revenue		Cost of revenue		Revenue		Cost of revenue
Consolidated statements of income in which the effects of cash flow hedging instruments are recorded	$	1,214,010	$	670,083	$	1,092,584	$	537,156
Gain or (loss) on cash flow hedging relationships:
Foreign currency forward contracts:
Amount of gain (loss) reclassified from AOCI into earnings	$	1,889	$	—	$	948	$	(386	)