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Fair Value Measurements (Tables)

9 Months Ended

Oct. 03, 2021

Fair Value Disclosures [Abstract]

Assets and liabilities measured on recurring basis

The following table sets forth information regarding the Company’s financial assets and financial liabilities, excluding retirement and postretirement plan assets, measured at fair value on a recurring basis:

Description						October 3, 2021						Assets measured at NAV			Level 1						Level 2						Level 3
Hedge derivatives, net:
Commodity contracts						$	7,530					$	—		$	—					$	7,530					$	—
Foreign exchange contracts						$	(394)					$	—		$	—					$	(394)					$	—
Non-hedge derivatives, net:
Commodity contracts						$	2,861					$	—		$	—					$	2,861					$	—
Foreign exchange contracts						$	256					$	—		$	—					$	256					$	—
Description						December 31, 2020						Assets measured at NAV			Level 1						Level 2						Level 3
Hedge derivatives, net:
Commodity contracts						$	(647)					$	—		$	—					$	(647)					$	—
Foreign exchange contracts						$	602					$	—		$	—					$	602					$	—
Non-hedge derivatives, net:
Commodity contracts						$	484					$	—		$	—					$	484					$	—
Foreign exchange contracts						$	115					$	—		$	—					$	115					$	—

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

No definition available.

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