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Financial instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense | The following table summarizes the foreign exchange gains and losses recognized within AOCI and the interest benefit recognized within interest expense related to cross currency swap for the three months ended March 31, 2024 and April 2, 2023:
| Three Months Ended |  |  |  |
| March 31, 2024 |  | April 2, 2023 |  |  |  |  |  |  |  |
Foreign exchange gain (loss) | $ | 8,893 |  |  | $ | (10,031) |  |  |  |  |  |  |  |  |
Interest benefit | 3,720 |  |  | 5,108 |  |  |  |  |  |  |  |  |
Fair Values of Derivative Instruments Designated as Hedging Instruments | The following table presents the locations in the condensed consolidated balance sheet and fair value of derivative financial instruments as of March 31, 2024 and December 31, 2023:
| March 31, 2024 |  | December 31, 2023
| Fair Value
Asset derivatives: |
Designated foreign currency forward contracts | $ | 3,512 |  |  | $ | 1,629 |
Non-designated foreign currency forward contracts | 475 |  |  | 937 |
Cross-currency interest rate swaps | 18,873 |  |  | 16,883 |
Prepaid expenses and other current assets | 22,860 |  |  | 19,449 |
Total asset derivatives | $ | 22,860 |  |  | $ | 19,449 |
Liability derivatives: |  |  |
Designated foreign currency forward contracts | $ | 1,334 |  |  | $ | 1,866 |
Non-designated foreign currency forward contracts | 546 |  |  | 1,340 |
Other current liabilities | 1,880 |  |  | 3,206 |
Cross-currency interest rate swaps | 32,532 |  |  | 32,097 |
Other liabilities | 32,532 |  |  | 32,097 |
Total liability derivatives | $ | 34,412 |  |  | $ | 35,303 |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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