Derivatives (Tables)

6 Months Ended

Jul. 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	31,305	Euro	4,740
Brazilian real	1,020,662	U.S. dollar	221,900
Euro	33,991	U.S. dollar	40,841
Euro	25,417	Polish zloty	114,000
Euro	6,168	Japanese yen	816,160
Euro	12,158	Chinese renminbi	94,047
Euro	13,852	Australian dollar	21,850
Euro	3,030	British pound	2,600
Euro	34	Canadian dollar	50
Polish zloty	1,825	U.S. dollar	483
Polish zloty	22,430	Euro	4,970
British pound	186	Euro	217
Japanese yen	318,582	U.S. dollar	2,901
U.S. dollar	605	Japanese yen	67,000
U.S. dollar	227,748	Euro	190,000

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 six months ended July 3, 2021 and June 27, 2020 (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	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
Foreign exchange	Foreign currency loss	$	2,581	$	1,257	$	7,970	$	(38)
Foreign exchange	Net sales	(157)		(107)		572		623
Foreign exchange	Cost of sales and operating expenses	18		(170)		(426)		(1,057)
Foreign exchange	Selling, general and administrative expense	(3,262)		1,180		(731)		6,904
Corn options and futures	Net sales	(2,479)		935		(3,477)		1,790
Corn options and futures	Cost of sales and operating expenses	4,085		(1,245)		5,554		(3,086)
Heating oil swaps and options	Net sales	—		(38)		—		(38)
Total		$	786	$	1,812	$	9,462	$	5,098