Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cross Currency Swap Contracts, Forward Contracts, and Interest Rate Swaps

The fair values of cross currency swap contracts, forward contracts and interest rate swap contracts were as follows:

(in thousands)	Balance Sheet Location	September 30, 2023		December 31, 2022
Derivatives not designated as hedging instruments:
Forward contracts	Derivative asset – current	$	104	$	237
Cross currency swaps	Derivative asset – current	22		6
Cross currency swaps	Derivative asset – non-current	26,132		22,987
Total derivatives in an asset position		$	26,258	$	23,230
Forward contracts	Accounts payable and accrued liabilities	$	—	$	14
Cross currency swaps	Accounts payable and accrued liabilities	39		66
Total derivatives in a liability position		$	39	$	80
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative asset – current	$	9,880	$	8,382
Interest rate swaps	Derivative asset – non-current	5,084		8,090
Total derivatives in an asset position		$	14,964	$	16,472
Total deferred gain	Accumulated other comprehensive income	$	18,099	$	21,014

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The impact of derivative financial instruments on the unaudited interim condensed consolidated statements of operations and comprehensive (loss) income was as follows:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(in thousands)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Gain (loss) on forward contracts recognized in (loss) gain on foreign currency, net	$	555	$	871	$	(134)	$	1,041
Gain on cross currency swaps recognized in (loss) gain on foreign currency, net	$	6,933	$	12,426	$	3,003	$	13,340
Gain on interest rate swaps recognized in interest expense, net	$	2,961	$	795	$	8,084	$	378

Schedule of Cash Flow Hedges Included in Other Comprehensive Income (Loss)

The table below presents the effect of cash flow hedge accounting on other comprehensive (loss) income, net of tax:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(in thousands)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Amount of gain recognized in other comprehensive (loss) income	$	1,655	$	8,415	$	5,170	$	19,867
Amount of gain reclassified from accumulated other comprehensive income into net (loss) income	$	2,962	$	795	$	8,085	$	414