Derivative Instruments (Tables)

3 Months Ended

Apr. 05, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below sets forth the fair value of derivative instruments as of April 5, 2020 (in thousands):

	Asset Derivatives as of April 5, 2020			Liability Derivatives as of April 5, 2020
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Interest rate swap contracts	Other current assets	$	—	Accrued expenses	$	14,402
		$	—		$	14,402

The table below sets forth the fair value of derivative instruments as of December 29, 2019 (in thousands):

	Asset Derivatives as of December 29, 2019			Liability Derivatives as of December 29, 2019
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments designated as hedging instruments:
Interest rate swap contract	Other current assets	$	—	Accrued expenses	$	5,801
		$	—		$	5,801

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

The following table summarizes the impact that changes in the fair value of derivatives designated as cash flow hedges and included in the assessment of hedge effectiveness had on accumulated other comprehensive loss, net of tax, during the three months ended April 5, 2020 and March 31, 2019 (in thousands):

	Three Months Ended
	April 5, 2020			March 31, 2019
	(In thousands)
Foreign currency contracts loss	$	—		$	(363	)
Interest rate swap contracts loss	(6,140		)	(2,943		)
Loss recognized in accumulated other comprehensive loss	$	(6,140	)	$	(3,306	)

Gains and losses reclassified from accumulated other comprehensive income (loss) into net income (loss) are discussed in Note 14 entitled “Items Reclassified From Other Comprehensive Loss.”