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Derivatives (Tables) | 6 Months Ended
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Jul. 02, 2022
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:
|  |  |  | July 2, 2022 |  | January 1, 2022
|  | Balance Sheet Location |  | Asset (Liability) (a) |  | Notional Amount (b) |  | Asset (Liability) (a) |  | Notional Amount
(In thousands) |  |  |  |  |
Derivatives Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Derivative in an Asset Position: |  |  |  |  |  |  |  |
2018 Swap Agreement |  | Other Current Assets |  | $ | 3 |  |  | $ | 15,000 |  |  | $ | — |  |  | $ | — |
Derivatives in a Liability Position: |  |  |  |  |  |  |  |
Forward currency-exchange contracts |  | Other Current Liabilities |  | $ | (56) |  |  | $ | 430 |  |  | $ | (44) |  |  | $ | 842 |
2018 Swap Agreement |  | Other Long-Term Liabilities |  | $ | — |  |  | $ | — |  |  | $ | (550) |  |  | $ | 15,000 |
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Derivatives in an Asset Position: |  |  |  |  |  |  |  |
Forward currency-exchange contracts |  | Other Current Assets |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | 1,200 |
Derivative in a Liability Position: |  |  |  |  |  |  |  |
Forward currency-exchange contract |  | Other Current Liabilities |  | $ | (2) |  |  | $ | 189 |  |  | $ | — |  |  | $ | — |
(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 2022 notional amounts are indicative of the level of the Company's recurring derivative activity.
Activity in Accumulated Other Comprehensive Items (AOCI) | 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 six months ended July 2, 2022:
(In thousands) |  | Interest Rate Swap Agreement |  | Forward Currency- Exchange Contract |  | Total
Unrealized Loss, Net of Tax, at January 1, 2022 |  | $ | (429) |  |  | $ | (33) |  |  | $ | (462) |
Loss reclassified to earnings (a) |  | 147 |  |  | — |  |  | 147 |
Gain (loss) recognized in AOCI |  | 284 |  |  | (8) |  |  | 276 |
Unrealized Gain (Loss), Net of Tax, at July 2, 2022 |  | $ | 2 |  |  | $ | (41) |  |  | $ | (39) |
(a) See Note 7, Accumulated Other Comprehensive Items, for the income statement classification.

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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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