Derivatives (Tables)

6 Months Ended

Jun. 27, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	40,217	Euro	6,750
Brazilian real	1,544,422	U.S. dollar	345,911
Euro	48,776	U.S. dollar	54,613
Euro	20,717	Polish zloty	92,000
Euro	7,241	Japanese yen	861,057
Euro	11,026	Chinese renminbi	87,689
Euro	15,266	Australian dollar	24,850
Euro	5,432	British pound	4,832
Euro	33	Canadian dollar	50
Polish zloty	19,707	Euro	4,427
British pound	157	Euro	173
British pound	33	U.S. dollar	41
Japanese yen	20,355	U.S. dollar	190
U.S. dollar	1,132	Japanese yen	121,000
U.S. dollar	49,784	Euro	45,000
Chinese renminbi	2,265	Euro	284

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 and six months ended June 27, 2020 and June 29, 2019 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		Three Months Ended				Six Months Ended
Derivatives not designated as hedging instruments	Location	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Foreign exchange	Foreign currency loss	$	1,257	$	(335)	$	(38)	$	1,536
Foreign exchange	Net sales	(107)		(234)		623		62
Foreign exchange	Cost of sales and operating expenses	(170)		151		(1,057)		(94)
Foreign exchange	Selling, general and administrative expense	1,180		(351)		6,904		522
Corn options and futures	Net sales	935		(612)		1,790		(262)
Corn options and futures	Cost of sales and operating expenses	(1,245)		1,516		(3,086)		643
Heating oil swaps and options	Net sales	(38)		—		(38)		—
Heating Oil swaps and options	Cost of sales and operating expenses	—		—		—		(506)
Total		$	1,812	$	135	$	5,098	$	1,901