Derivatives (Tables)

12 Months Ended

Jan. 01, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(in thousands):

Functional Currency		Contract Currency
Type	Amount	Type	Amount
Brazilian real	66,425	Euro	11,548
Brazilian real	3,057,673	U.S. Dollar	730,000
Euro	38,814	U.S. Dollar	44,343
Euro	24,442	Polish zloty	113,000
Euro	5,231	Japanese yen	675,210
Euro	15,724	Chinese renminbi	114,134
Euro	15,269	Australian dollar	24,436
Euro	3,045	British pound	2,600
Euro	34	Canadian dollar	50
Polish zloty	27,898	Euro	6,000
Polish zloty	1,216	U.S. dollar	295
British pound	233	Euro	273
British pound	200	U.S. dollar	264
Japanese yen	354,206	U.S. dollar	3,127
U.S. dollar	476	Japanese yen	54,000
U.S. dollar	282,173	Euro	250,000
Australian dollar	1,508	Euro	953

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 1, 2022, January 2, 2021 and December 28, 2019 (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 1, 2022		January 2, 2021		December 28, 2019
Foreign exchange	Foreign currency loss/(gain)	$	21,698	$	(3,840)	$	1,565
Foreign exchange	Net sales	1,178		(778)		903
Foreign exchange	Cost of sales and operating expenses	(844)		(664)		(452)
Foreign exchange	Selling, general and administrative expense	3,405		4,976		1,649
Corn options and futures	Net sales	(3,564)		(1,091)		670
Corn options and futures	Cost of sales and operating expenses	5,669		(50)		(1,636)
Natural gas and heating oil swaps and options	Cost of sales and operating expenses	—		—		(506)
Heating oil swaps and options	Net sales	—		(38)		—
Total		$	27,542	$	(1,485)	$	2,193