Derivatives (Tables)

3 Months Ended

Apr. 03, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	49,335	Euro	7,305
Brazilian real	1,103,561	U.S. dollar	241,320
Euro	35,967	U.S. dollar	42,810
Euro	43,119	Polish zloty	198,500
Euro	6,293	Japanese yen	808,776
Euro	16,176	Chinese renminbi	126,124
Euro	42,340	Australian dollar	65,550
Euro	3,048	British pound	2,600
Euro	32	Canadian dollar	50
Polish zloty	1,031	U.S. dollar	262
Polish zloty	24,116	Euro	5,195
British pound	176	Euro	207
Japanese yen	231,803	U.S. dollar	2,159
U.S. dollar	100	Japanese yen	11,000
U.S. dollar	165,311	Euro	140,000

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 April 3, 2021 and March 28, 2020 (in thousands):

		Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
		Three Months Ended
Derivatives not designated as hedging instruments	Location	April 3, 2021		March 28, 2020
Foreign exchange	Foreign currency loss	$	5,389	$	(1,295)
Foreign exchange	Net sales	729		730
Foreign exchange	Cost of sales and operating expenses	(444)		(887)
Foreign exchange	Selling, general and administrative expense	2,531		5,724
Corn options and futures	Net sales	(998)		855
Corn options and futures	Cost of sales and operating expenses	1,469		(1,841)
Total		$	8,676	$	3,286