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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Apr. 01, 2023
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
MarchDecemberMarchMarchDecemberMarch
(In thousands)202320222022202320222022
Derivatives designated as hedging instruments:
Foreign currency exchange contracts$20,361 $15,565 $11,041 $(2,914)$(2,307)$(1,073)
Interest rate swap agreements8,946 11,357 4,309 — — — 
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts16 — 131 (316)— (2)
Total derivatives$29,323 $26,922 $15,481 $(3,230)$(2,307)$(1,075)
The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
March 2023December 2022March 2022
(In thousands)Derivative AssetDerivative LiabilityDerivative AssetDerivative LiabilityDerivative AssetDerivative Liability
Gross amounts presented in the balance sheet$29,323 $(3,230)$26,922 $(2,307)$15,481 $(1,075)
Gross amounts not offset in the balance sheet(1,449)1,449 (1,629)1,629 (938)938 
Net amounts$27,874 $(1,781)$25,293 $(678)$14,543 $(137)
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 2023December 2022March 2022
Prepaid expenses and other current assets$18,046 $14,183 $9,424 
Accrued liabilities(2,683)(1,218)(838)
Other assets11,277 12,739 6,057 
Other liabilities(547)(1,089)(237)
Pre-Tax Effects of Cash Flow Hedges Included in the Statement of Operations and Statements of Comprehensive Income (Loss)
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:
Gain (Loss) on Derivatives Recognized in AOCL
(In thousands)Three Months Ended March
Cash Flow Hedging Relationships20232022
Foreign currency exchange contracts$10,337 $7,325 
Interest rate swap agreements(309)9,095 
Total$10,028 $16,420 
Gain (Loss) Reclassified from AOCL into Income
(In thousands)Three Months Ended March
Location of Gain (Loss)20232022
Net revenues$(171)$(132)
Cost of goods sold5,992 2,301 
Other expense, net160 (103)
Interest expense2,101 (1,266)
Total$8,082 $800