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FOREIGN CURRENCY CONTRACTS (Tables)

6 Months Ended

Jun. 29, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional and Fair Value of Foreign Currency Contracts

The notional amount and fair value of the open contract is summarized as follows:

		Notional Amount				Fair Value				Balance Sheet Location
		(in thousands)
December 29, 2018		$	343,300			$	(1,319	)		Other current liabilities

Schedule of Derivative Instruments on Statements of Income

The following table summarizes the effect of the foreign exchange forward contract on the Company’s unaudited condensed consolidated statements of income:

		June 29, 2019								June 30, 2018
Location of hedge gain (loss)		Financial statement caption amount				Amount of gain (loss)				Financial statement caption amount				Amount of gain (loss)
		(in thousands)
Three Months Ended:
Interest expense		$	(20,835	)		$	(1,606	)		$	(18,643	)		$	—
Six Months Ended:
Interest expense		$	(30,822	)		$	7,311			$	(29,834	)		$	—

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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=109980867&loc=SL5624181-113959

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-Name Accounting Standards Codification
-Topic 815
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-Section 50
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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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