Derivatives (Tables)

9 Months Ended

Oct. 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	22,978	Euro	3,536
Brazilian real	1,116,635	U.S. dollar	237,950
Euro	33,298	U.S. dollar	39,070
Euro	24,960	Polish zloty	114,000
Euro	7,160	Japanese yen	929,960
Euro	20,692	Chinese renminbi	157,474
Euro	13,670	Australian dollar	21,850
Euro	2,810	British pound	2,400
Euro	34	Canadian dollar	50
Polish zloty	2,057	U.S. dollar	524
Polish zloty	20,589	Euro	4,483
British pound	179	Euro	210
Japanese yen	228,482	U.S. dollar	2,070
U.S. dollar	514	Japanese yen	57,000
U.S. dollar	293,089	Euro	250,000

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 October 2, 2021 and September 26, 2020 (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	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Foreign exchange	Foreign currency loss	$	5,656	$	(1,957)	$	13,626	$	(1,995)
Foreign exchange	Net sales	323		(566)		895		57
Foreign exchange	Cost of sales and operating expenses	(98)		111		(524)		(946)
Foreign exchange	Selling, general and administrative expenses	2,732		1,187		2,001		8,091
Corn options and futures	Net sales	753		(914)		(2,724)		876
Corn options and futures	Cost of sales and operating expenses	(1,871)		754		3,683		(2,332)
Heating oil swaps and options	Net sales	—		—		—		(38)
Total		$	7,495	$	(1,385)	$	16,957	$	3,713