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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 27, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Outstanding Forward Contracts Table | The Company had the following outstanding forward contracts (in thousands):
| September 27, 2020 |  |  |  | December 31, 2019 |  |
Currency | Notional Value |  | USD Equivalent |  | Notional Value |  | USD Equivalent
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |
Euro | 66,500 |  |  | $ | 77,643 |  |  | 18,000 |  |  | $ | 20,249 |
Korean Won | 14,840,000 |  |  | 12,695 |  |  | 161,951,500 |  |  | 139,688 |
Mexican Peso | 165,000 |  |  | 7,324 |  |  | 80,000 |  |  | 4,223 |
Japanese Yen | 450,000 |  |  | 4,259 |  |  | 575,000 |  |  | 5,291 |
Hungarian Forint | 1,305,000 |  |  | 4,174 |  |  | 870,000 |  |  | 2,962 |
British Pound | 2,000 |  |  | 2,543 |  |  | 2,700 |  |  | 3,569 |
Taiwanese Dollar | 41,675 |  |  | 1,430 |  |  | 37,450 |  |  | 1,256 |
Canadian Dollar | 1,430 |  |  | 1,066 |  |  | 1,300 |  |  | 1,000 |
Singapore Dollar | 1,310 |  |  | 951 |  |  | 845 |  |  | 628 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
| Asset Derivatives |  |  |  |  |  | Liability Derivatives |  |  |  |
| Balance |  | Fair Value |  |  |  | Balance |  | Fair Value |  |
| Sheet Location |  | September 27, 2020 |  | December 31, 2019 |  | Sheet Location |  | September 27, 2020 |  | December 31, 2019
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |
Economic hedge forward contracts | Prepaid expenses and other current assets |  | $ | 313 |  |  | $ | 857 |  |  | Accrued expenses |  | $ | 121 |  |  | $ | 23 |
Offsetting Assets | The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands):
Asset Derivatives |  |  |  |  |  | Liability Derivatives |  |  |  |
|  | September 27, 2020 |  | December 31, 2019 |  |  |  | September 27, 2020 |  | December 31, 2019
Gross amounts of recognized assets |  | $ | 313 |  |  | $ | 857 |  |  | Gross amounts of recognized liabilities |  | $ | 121 |  |  | $ | 23 |
Gross amounts offset |  | — |  |  | — |  |  | Gross amounts offset |  | — |  |  | — |
Net amount of assets presented |  | $ | 313 |  |  | $ | 857 |  |  | Net amount of liabilities presented |  | $ | 121 |  |  | $ | 23 |
Derivative Instruments, Gain (Loss) | Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands):
| Location in Financial Statements |  | Three-months Ended |  |  |  | Nine-months Ended |  |
|  |  | September 27, 2020 |  | September 29, 2019 |  | September 27, 2020 |  | September 29, 2019
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |
Gains (losses) recognized in current operations | Foreign currency gain (loss) |  | $ | (1,521) |  |  | $ | 469 |  |  | $ | (9,701) |  |  | $ | 535 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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