XML 57 R46.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Derivatives (Tables) | 6 Months Ended
--- | ---
Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | As of June 29, 2024, the Company had the following designated and non-designated outstanding forward and option contract amounts that were entered into to hedge foreign currency transactions in currencies other than the functional currency and forecasted transactions in currencies other than the functional currency (in thousands):
Functional Currency |  | Contract Currency
Type | Amount |  | Type | Amount
Brazilian real | 294,847 |  |  | Euro | 52,652 |
Brazilian real | 1,848,598 |  |  | U.S. dollar | 342,861 |
Euro | 24,406 |  |  | U.S. dollar | 26,432 |
Euro | 65,305 |  |  | Polish zloty | 281,945 |
Euro | 10,583 |  |  | Japanese yen | 1,795,505 |
Euro | 47,676 |  |  | Chinese renminbi | 371,600 |
Euro | 18,088 |  |  | Australian dollar | 29,450 |
Euro | 3,532 |  |  | British pound | 2,994 |
Polish zloty | 1,454 |  |  | U.S. dollar | 361 |
Polish zloty | 26,822 |  |  | Euro | 6,203 |
British pound | 188 |  |  | Euro | 222 |
British pound | 276 |  |  | U.S. dollar | 350 |
Japanese yen | 159,644 |  |  | U.S. dollar | 1,004 |
U.S. dollar | 93 |  |  | Japanese yen | 14,928 |
U.S. dollar | 562,340 |  |  | Euro | 519,182 |
Australian dollar | 201 |  |  | Euro | 125 |
Australian dollar | 359 |  |  | U.S. dollar | 239 |
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 June 29, 2024 and July 1, 2023 (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 |  | June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023
Foreign exchange |  | Foreign currency loss/(gain) |  | $ | (194) |  | $ | (2,036) |  | $ | (850) |  | $ | (1,236) |
Foreign exchange |  | Net sales |  | 158 |  | (306) |  | 642 |  | (977) |
Foreign exchange |  | Cost of sales and operating expenses |  | (107) |  | (103) |  | (299) |  | (120) |
Foreign exchange |  | Selling, general and administrative expenses |  | 8,091 |  | (2,673) |  | 9,572 |  | (4,058) |
Corn options and futures |  | Net sales |  | 238 |  | 1,111 |  | 546 |  | 1,382 |
Corn options and futures |  | Cost of sales and operating expenses |  | (1,868) |  | (2,191) |  | (2,236) |  | (2,608) |
Heating Oil swaps and options |  | Selling, general and administrative expenses |  | — |  | — |  | — |  | 49 |
Soybean meal |  | Net sales |  | — |  | 525 |  | — |  | 308 |
Total |  |  |  | $ | 6,318 |  | $ | (5,673) |  | $ | 7,375 |  | $ | (7,260) |

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 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration