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Derivatives (Tables)

9 Months Ended

Oct. 02, 2021

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:

												October 2, 2021												January 2, 2021
						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						$	—					$	—					$	25					$	842
Derivatives in a Liability Position:
Forward currency-exchange contract						Other Current Liabilities						$	(25)					$	842					$	—					$	—
2018 Swap Agreement						Other Long-Term Liabilities						$	(745)					$	15,000					$	(1,099)					$	15,000
Derivatives Not Designated as Hedging Instruments:
Derivatives in an Asset Position:
Forward currency-exchange contracts						Other Current Assets						$	—					$	—					$	12					$	582
Derivatives in a Liability Position:
Forward currency-exchange contracts						Other Current Liabilities						$	—					$	—					$	(7)					$	825

(a) See Note 9, Fair Value Measurements and Fair Value of Financial Instruments, for the fair value measurements relating to these financial instruments.

(b) The 2021 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 the Company's derivative instruments designated as cash flow hedges as of and for the nine months ended October 2, 2021:

(In thousands)						Interest Rate Swap Agreement						Forward Currency- Exchange Contract						Total
Unrealized (Loss) Gain, Net of Tax, at January 2, 2021						$	(846)					$	18					$	(828)
Loss reclassified to earnings (a)						256						—						256
Gain (loss) recognized in AOCI						25						(37)						(12)
Unrealized Loss, Net of Tax, at October 2, 2021						$	(565)					$	(19)					$	(584)

    (a) See Note 7, Accumulated Other Comprehensive Items, for the income statement classification.

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- References

No definition available.

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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=125515794&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=125515794&loc=SL5618551-113959

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