Derivatives (Tables)

9 Months Ended

Sep. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	25,116	Euro	3,970
Brazilian real	1,380,739	U.S. dollar	312,563
Euro	44,794	U.S. dollar	52,350
Euro	39,191	Polish zloty	175,000
Euro	4,962	Japanese yen	610,249
Euro	9,953	Chinese renminbi	80,042
Euro	15,354	Australian dollar	24,850
Euro	4,118	British pound	3,730
Euro	33	Canadian dollar	50
Euro	4,789	Brazilian real	30,000
Polish zloty	19,226	Euro	4,295
British pound	77	Euro	84
Japanese yen	205,545	U.S. dollar	1,944
U.S. dollar	864	Japanese yen	90,000
U.S. dollar	94,415	Euro	80,000

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 and nine months ended September 26, 2020 and September 28, 2019 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		Three Months Ended				Nine Months Ended
Derivatives not designated as hedging instruments	Location	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Foreign exchange	Foreign currency loss	$	(1,957)	$	95	$	(1,995)	$	1,632
Foreign exchange	Net sales	(566)		1,244		57		1,306
Foreign exchange	Cost of sales and operating expenses	111		(567)		(946)		(661)
Foreign exchange	Selling, general and administrative expense	1,187		1,915		8,091		2,437
Corn options and futures	Net sales	(914)		881		876		619
Corn options and futures	Cost of sales and operating expenses	754		(2,509)		(2,332)		(1,866)
Heating oil swaps and options	Net sales	—		—		(38)		—
Heating Oil swaps and options	Cost of sales and operating expenses	—		—		—		(506)
Total		$	(1,385)	$	1,059	$	3,713	$	2,961