XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.20.2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair value of derivative instruments | Fair value of derivative instruments at September 26, 2020 and December 28, 2019 are as follows:
Derivatives designated as hedging instruments: | Balance sheet location |  | September 26, 2020 |  | December 28, 2019 |  |
Foreign currency forward contracts | Prepaid expenses and other assets |  | $ | 1,021 |  |  | $ | 2,119 |  |  |
Cross currency swap contracts | Prepaid expenses and other assets |  | 2,527 |  |  | 1,128 |  |  |
|  |  | $ | 3,548 |  |  | $ | 3,247 |  |  |
Gains (losses) on derivatives recognized on statements of earnings | Gains (losses) on derivatives recognized in the condensed consolidated statements of earnings for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019 are as follows:
|  |  | Thirteen weeks ended |  | Thirty-nine weeks ended |  |
| Statements of earnings location |  | September 26, 2020 |  | September 28, 2019 |  | September 26, 2020 |  | September 28, 2019 |  |
Commodity forward contracts | Product cost of sales |  | $ | — |  |  | $ | (1,329) |  |  | $ | — |  |  | $ | (1,425) |  |  |
Foreign currency forward contracts | Other income |  | 116 |  |  | 123 |  |  | 146 |  |  | 827 |  |  |
Foreign currency forward contracts | Product sales |  | 1,017 |  |  | — |  |  | 1,169 |  |  | — |  |  |
Interest rate hedge amortization | Interest expense |  | (16) |  |  | (16) |  |  | (48) |  |  | (48) |  |  |
Cross currency swap contracts | Interest expense |  | 649 |  |  | 769 |  |  | 2,111 |  |  | 2,096 |  |  |
|  |  | $ | 1,766 |  |  | $ | (453) |  |  | $ | 3,378 |  |  | $ | 1,450 |  |  |
Schedule of notional amounts of outstanding derivative | Key terms of the two CCS are as follows:
Currency | Notional Amount | Termination Date | Swapped Interest Rate | Set Settlement Amount
Danish Krone (DKK) | $ | 50,000 |  | April 1, 2024 | 2.68% | DKK 333,625
Euro | $ | 80,000 |  | April 1, 2024 | 2.825% | €71,550

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivatives and fair value of assets and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativesAndFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration