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FOREIGN CURRENCY CONTRACTS (Tables)

9 Months Ended

Sep. 28, 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

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

    

		Notional Amount				Fair Value				Balance Sheet Location
		(in thousands)
September 28, 2019		$	108,029			$	778			Other current assets

Schedule of Derivative Instruments on Statements of Income

The following table summarizes the effect of the foreign exchange forward contracts entered into in connection with intercompany loans on the Company’s unaudited condensed consolidated statements of income:

		September 28, 2019								September 29, 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:
Other (expense) income, net		$	(14,254	)		$	840			$	5,910			$	235
Nine Months Ended:
Other (expense) income, net		$	(8,161	)		$	1,358			$	24,069			$	(850	)

The following table summarizes the effect of the foreign exchange forward contracts entered into to limit its foreign currency exposure related to a U.S. dollar denominated loan borrowed by a non-U.S. Euro functional currency entity under the Credit Facility on the Company’s unaudited condensed consolidated statements of income:

		September 28, 2019								September 29, 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		$	(5,698	)		$	14,311			$	(17,197	)		$	—
Nine Months Ended:
Interest expense		$	(36,520	)		$	21,622			$	(47,031	)		$	—

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- References

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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=109980867&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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- Definition

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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