Derivatives (Tables)

12 Months Ended

Jan. 02, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Hedges

The fair value of our aluminum hedges are classified in the accompanying consolidated balance sheets as follows (in thousands):

	Derivative Assets			Derivative (Liabilities)
	January 2, 2021			January 2, 2021
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum forward contracts	Other current assets	$	3,243	Accrued liabilities	$	(28	)
MTP contracts	Other current assets		423	Accrued liabilities		(24	)
Aluminum forward contracts	Other assets		—	Other liabilities		(25	)
MTP contracts	Other assets		26	Other liabilities		(4	)
Total derivative instruments	Total derivative assets	$	3,692	Total derivative liabilities	$	(81	)
	Derivative Assets			Derivative (Liabilities)
	December 28, 2019			December 28, 2019
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum forward contracts	Other current assets	$	193	Accrued liabilities	$	(510	)
Aluminum forward contracts	Other assets		—	Other liabilities		—
Total derivative instruments	Total derivative assets	$	193	Total derivative liabilities	$	(510	)

Gains (Losses) on Derivative Financial Instruments

The following represents the gains (losses) on derivative financial instruments, and their classifications within the accompanying consolidated financial statements for the year ended January 2, 2021 (in thousands):

	Derivatives in Cash Flow Hedging Relationships
	Amount of Gain or (Loss) Recognized in OCI(L) on Derivatives	Location of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income
	Year Ended		Year Ended
	December 29, 2018		December 29, 2018
Aluminum contracts	($4,357)	Cost of sales	$239
	December 28, 2019		December 28, 2019
Aluminum contracts	($1,229)	Cost of sales	$5,030
	January 2, 2021		January 2, 2021
Aluminum contracts	$1,037	Cost of sales	$2,470
MTP contracts	$532	Cost of sales	($111)