Derivatives (Tables)

12 Months Ended

Jan. 02, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	64,919	Euro	9,645
Brazilian real	1,189,357	U.S. Dollar	257,300
Euro	33,671	U.S. Dollar	40,514
Euro	22,229	Polish zloty	100,000
Euro	4,838	Japanese yen	605,514
Euro	15,360	Chinese renminbi	122,801
Euro	13,349	Australian dollar	21,850
Euro	2,488	British pound	2,269
Euro	32	Canadian dollar	50
Polish zloty	24,824	Euro	5,506
Polish zloty	2,253	U.S. dollar	608
British pound	232	Euro	253
British pound	150	U.S. dollar	200
Japanese yen	258,547	U.S. dollar	2,505
U.S. dollar	531	Japanese yen	55,000
U.S. dollar	114,078	Euro	95,000
Canadian dollar	10,205	U.S. dollar	8,000

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 year ended January 2, 2021, December 28, 2019 and December 29, 2018 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		For The Year Ended
Derivatives not designated as hedging instruments	Location	January 2, 2021		December 28, 2019		December 29, 2018
Foreign exchange	Foreign currency loss/(gain)	$	(3,840)	$	1,565	$	(2,160)
Foreign exchange	Net sales	(778)		903		2,806
Foreign exchange	Cost of sales and operating expenses	(664)		(452)		(1,005)
Foreign exchange	Selling, general and administrative expense	4,976		1,649		3,040
Corn options and futures	Net sales	(1,091)		670		683
Corn options and futures	Cost of sales and operating expenses	(50)		(1,636)		(543)
Natural gas and heating oil swaps and options	Cost of sales and operating expenses	—		(506)		1,031
Heating oil swaps and options	Net sales	(38)		—		—
Total		$	(1,485)	$	2,193	$	3,852