Derivatives (Tables)

3 Months Ended

Mar. 28, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	38,179	Euro	8,100
Brazilian real	1,055,921	U.S. dollar	292,149
Euro	59,386	U.S. dollar	65,693
Euro	18,314	Polish zloty	80,500
Euro	8,992	Japanese yen	1,076,265
Euro	10,967	Chinese renminbi	84,048
Euro	16,514	Australian dollar	27,850
Euro	5,977	British pound	5,248
Polish zloty	24,133	Euro	5,264
British pound	37	Euro	40
British pound	108	U.S. dollar	126
Japanese yen	137,644	U.S. dollar	1,271
U.S. dollar	932	Japanese yen	103,000
U.S. dollar	49,766	Euro	45,000

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The table below summarizes the effect of derivatives not designated as hedges on the Company's consolidated statements of operations for the three months ended March 28, 2020 and March 30, 2019 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		Three Months Ended
Derivatives not designated as hedging instruments	Location	March 28, 2020			March 30, 2019
Foreign exchange	Foreign currency loss	$	(1,295	)	$	1,871
Foreign exchange	Net sales	730			296
Foreign exchange	Cost of sales and operating expenses	(887		)	(245		)
Foreign exchange	Selling, general and administrative expense	5,724			873
Corn options and futures	Net sales	855			350
Corn options and futures	Cost of sales and operating expenses	(1,841		)	(873		)
Heating Oil swaps and options	Cost of sales and operating expenses	—			(506		)
Total		$	3,286		$	1,766