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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Apr. 03, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents the fair value of outstanding derivatives on an individual contract basis:
Fair Value of Derivatives
with Unrealized Gains		Fair Value of Derivatives
with Unrealized Losses
(In thousands)March
2021		December 2020March 2020March
2021		December 2020March 2020
Derivatives designated as hedging instruments:
Foreign currency exchange contracts$6,593 $7,179 $5,717 $(4,659)$(8,640)$(14,603)
Interest rate swap agreements— — — (12,710)(16,309)(17,528)
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts221 352 1,271 (3)(154)(477)
Total derivatives$6,814 $7,531 $6,988 $(17,372)$(25,103)$(32,608)
The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
March 2021December 2020March 2020
(In thousands)Derivative AssetDerivative LiabilityDerivative AssetDerivative LiabilityDerivative AssetDerivative
Liability
Gross amounts presented in the balance sheet$6,814 $(17,372)$7,531 $(25,103)$6,988 $(32,608)
Gross amounts not offset in the balance sheet(2,355)2,355 (1,818)1,818 (2,970)2,970 
Net amounts$4,459 $(15,017)$5,713 $(23,285)$4,018 $(29,638)
The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates:
(In thousands)March 2021December 2020March 2020
Prepaid expenses and other current assets$5,830 $5,773 $5,217 
Accrued liabilities(4,065)(7,166)(10,256)
Other assets984 1,758 1,771 
Other liabilities(13,307)(17,937)(22,352)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income (loss):
Gain (Loss) on Derivatives Recognized in AOCL
(In thousands)Three Months Ended
Cash Flow Hedging RelationshipsMarch 2021March 2020
Foreign currency exchange contracts$1,546 $(10,906)
Interest rate swap agreements2,086 (14,670)
Total$3,632 $(25,576)
Gain (Loss) Reclassified from AOCL into Income
(In thousands)Three Months Ended
Location of Gain (Loss)March 2021March 2020
Net revenues$75 $(358)
Cost of goods sold(1,405)3,741 
Other expense, net(134)(4)
Interest expense(1,513)(231)
Total$(2,977)$3,148 
Derivatives Not Designated as Hedging Instruments
The following table presents a summary of these derivatives included in the Company's statements of operations:
(In thousands)Location of Gain (Loss) on Derivatives Recognized in IncomeGain (Loss) on Derivatives Recognized in Income
Three Months Ended
Derivatives Not Designated as HedgesMarch 2021March 2020
Foreign currency exchange contractsNet revenues$(81)$4 
Cost of goods sold(123)(3,672)
Other expense, net209 23 
Total$5 $(3,645)