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Derivatives (Tables) | 9 Months Ended
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Sep. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | As of September 28, 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 | 505,977 |  |  | Euro | 81,943 |
Brazilian real | 2,062,326 |  |  | U.S. dollar | 371,815 |
Euro | 58,012 |  |  | U.S. dollar | 64,621 |
Euro | 71,038 |  |  | Polish zloty | 303,946 |
Euro | 10,979 |  |  | Japanese yen | 1,757,858 |
Euro | 29,648 |  |  | Chinese renminbi | 231,820 |
Euro | 17,912 |  |  | Australian dollar | 29,450 |
Euro | 4,446 |  |  | British pound | 3,721 |
Polish zloty | 60,733 |  |  | Euro | 14,187 |
British pound | 136 |  |  | Euro | 163 |
British pound | 275 |  |  | U.S. dollar | 367 |
Japanese yen | 106,948 |  |  | U.S. dollar | 743 |
U.S. dollar | 94 |  |  | Japanese yen | 13,476 |
U.S. dollar | 562,340 |  |  | Euro | 519,182 |
Australian dollar | 179 |  |  | Euro | 110 |
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 nine months ended September 28, 2024 and September 30, 2023 (in thousands):
|  |  |  | Loss or (Gain) Recognized in Income on Derivatives Not Designated as Hedges
|  |  |  | Three Months Ended | Nine Months Ended
Derivatives not designated as hedging instruments |  | Location |  | September 28, 2024 | September 30, 2023 | September 28, 2024 | September 30, 2023
Foreign exchange |  | Foreign currency loss/(gain) |  | $ | (1,459) |  | $ | (237) |  | $ | (2,309) |  | $ | (1,473) |
Foreign exchange |  | Net sales |  | (298) |  | 709 |  | 344 |  | (268) |
Foreign exchange |  | Cost of sales and operating expenses |  | 173 |  | (329) |  | (126) |  | (449) |
Foreign exchange |  | Selling, general and administrative expenses |  | (1,289) |  | 1,096 |  | 8,283 |  | (2,962) |
Corn options and futures |  | Net sales |  | 106 |  | 373 |  | 652 |  | 1,755 |
Corn options and futures |  | Cost of sales and operating expenses |  | 319 |  | (35) |  | (1,917) |  | (2,643) |
Heating Oil swaps and options |  | Selling, general and administrative expenses |  | — |  | — |  | — |  | 49 |
Soybean meal |  | Net sales |  | — |  | 179 |  | — |  | 487 |
Total |  |  |  | $ | (2,448) |  | $ | 1,756 |  | $ | 4,927 |  | $ | (5,504) |

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