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Derivatives (Tables)

9 Months Ended

Sep. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following table summarizes the fair value of derivative instruments in the accompanying condensed consolidated balance sheet:

												September 26, 2020												December 28, 2019
						Balance Sheet Location						Asset (Liability) (a)						Notional Amount (b)						Asset (Liability) (a)						Notional Amount
(In thousands)
Derivatives Designated as Hedging Instruments:
Derivatives in an Asset Position:
Forward currency-exchange contract						Other Current Assets						$	4					$	1,311					$	—					$	—
2015 Swap Agreement						Other Current Assets						$	—					$	—					$	11					$	10,000
Derivatives in a Liability Position:
Forward currency-exchange contracts						Other Current Liabilities						$	(14)					$	842					$	(75)					$	4,825
2018 Swap Agreement						Other Long-Term Liabilities						$	(1,202)					$	15,000					$	(770)					$	15,000
Derivatives Not Designated as Hedging Instruments:
Derivatives in an Asset Position:
Forward currency-exchange contracts						Other Current Assets						$	25					$	713					$	3					$	387
Derivatives in a Liability Position:
Forward currency-exchange contracts						Other Current Liabilities						$	(5)					$	686					$	(43)					$	2,545

(a) See Note 11, Fair Value Measurements and Fair Value of Financial Instruments, for the fair value measurements relating to these financial instruments.

(b) The total 2020 notional amounts are indicative of the level of the Company's recurring derivative activity.

Activity in Accumulated Other Comprehensive Items (OCI)

The following table summarizes the activity in AOCI associated with derivative instruments designated as cash flow hedges as of and for the nine months ended September 26, 2020:

(In thousands)						Interest Rate Swap Agreements						Forward Currency- Exchange Contracts						Total
Unrealized Loss, Net of Tax, at December 28, 2019						$	(589)					$	(55)					$	(644)
Loss (gain) reclassified to earnings (a)						163						(18)						145
(Loss) gain recognized in AOCI						(487)						67						(420)
Unrealized Loss, Net of Tax, at September 26, 2020						$	(913)					$	(6)					$	(919)

(a) See Note 9, Accumulated Other Comprehensive Items, for the income statement classification.

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- References

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

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