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Derivatives (Tables) | 6 Months Ended
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Jul. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | (in thousands):
Functional Currency |  | Contract Currency
Type | Amount |  | Type | Amount
Brazilian real | 2,599 |  |  | Euro | 468 |
Brazilian real | 3,121,236 |  |  | U.S. dollar | 746,850 |
Euro | 38,298 |  |  | U.S. dollar | 41,403 |
Euro | 26,873 |  |  | Polish zloty | 126,000 |
Euro | 5,363 |  |  | Japanese yen | 750,820 |
Euro | 15,349 |  |  | Chinese renminbi | 109,671 |
Euro | 15,059 |  |  | Australian dollar | 22,350 |
Euro | 3,274 |  |  | British pound | 2,826 |
Euro | 37 |  |  | Canadian dollar | 50 |
Euro | 500,000 |  |  | Brazilian real | 2,500,000 |
Polish zloty | 2,495 |  |  | U.S. dollar | 559 |
Polish zloty | 40,387 |  |  | Euro | 8,544 |
British pound | 263 |  |  | Euro | 305 |
Japanese yen | 216,550 |  |  | U.S. dollar | 1,665 |
U.S. dollar | 482 |  |  | Japanese yen | 65,000 |
U.S. dollar | 252,729 |  |  | Euro | 240,000 |
Australian dollar | 1,495 |  |  | Euro | 986 |
Australian dollar | 190 |  |  | U.S. dollar | 132 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The table below summarizes the effect of derivatives not designated as hedges on the Company's consolidated statements of operations for the three and six months ended July 2, 2022 and July 3, 2021 (in thousands):
|  |  |  | Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
|  |  |  | Three Months Ended | Six Months Ended
Derivatives not designated as hedging instruments |  | Location |  | July 2, 2022 | July 3, 2021 | July 2, 2022 | July 3, 2021
Foreign exchange |  | Foreign currency loss |  | $ | 35,025 |  | $ | 2,581 |  | $ | 42,492 |  | $ | 7,970 |
Foreign exchange |  | Net sales |  | 732 |  | (157) |  | 890 |  | 572 |
Foreign exchange |  | Cost of sales and operating expenses |  | (503) |  | 18 |  | (758) |  | (426) |
Foreign exchange |  | Selling, general and administrative expenses |  | 3,937 |  | (3,262) |  | (2,587) |  | (731) |
Corn options and futures |  | Net sales |  | 850 |  | (2,479) |  | (1,286) |  | (3,477) |
Corn options and futures |  | Cost of sales and operating expenses |  | (2,384) |  | 4,085 |  | 3,169 |  | 5,554 |
Total |  |  |  | $ | 37,657 |  | $ | 786 |  | $ | 41,920 |  | $ | 9,462 |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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