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Financial Instruments and Risk Management (Tables) | 9 Months Ended
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Sep. 28, 2019
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Fair Values of Derivative Instruments | The fair values of derivative financial instruments related to forward foreign exchange contracts and cross-currency swap contracts recognized in the Condensed Consolidated Balance Sheets of the Company were as follows:
| Balance Sheet Location |  | Fair Value
| September 28, 2019 |  | December 29, 2018
Derivatives designated as hedging instruments: |  |  |  |  |
Forward foreign exchange contracts | Other current assets |  | $ | 7,729 |  |  | $ | 18,381 |
Cross-currency swap contracts | Other current assets |  | 1,672 |  |  | — |
Cross-currency swap contracts | Other noncurrent assets |  | 8,699 |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |
Forward foreign exchange contracts | Other current assets |  | 13,915 |  |  | 12,410 |
Total derivative assets |  |  | 32,015 |  |  | 30,791 |
Derivatives designated as hedging instruments: |  |  |  |  |
Forward foreign exchange contracts | Accrued liabilities |  | (173 | ) |  | (286 | )
Derivatives not designated as hedging instruments: |  |  |  |  |
Forward foreign exchange contracts | Accrued liabilities |  | (313 | ) |  | (114 | )
Total derivative liabilities |  |  | (486 | ) |  | (400 | )
Net derivative asset |  |  | $ | 31,529 |  |  | $ | 30,391 |
Effect of Cash Flow Hedge Derivative Instruments | The effect of cash flow hedge derivative instruments on the Condensed Consolidated Statements of Income and AOCI is as follows:
| Amount of Gain (Loss) Recognized in AOCI on Derivative Instruments
| Quarter Ended |  | Nine Months Ended
| September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Foreign exchange contracts | $ | 9,970 |  |  | $ | (207 | ) |  | $ | 11,684 |  |  | $ | 25,067 |
| Location of Gain (Loss) Reclassified from AOCI into Income |  | Amount of Gain (Loss) Reclassified from AOCI into Income
|  | Quarter Ended |  | Nine Months Ended
|  | September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Foreign exchange contracts(1) | Cost of sales |  | $ | 6,991 |  |  | $ | (2,467 | ) |  | $ | 21,355 |  |  | $ | (9,686 | )
(1) | The Company does not exclude amounts from effectiveness testing for cash flow hedges that would require recognition into earnings based on changes in fair value.
| Quarter Ended |  | Nine Months Ended
| September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Total cost of sales in which the effects of cash flow hedges are recorded | $ | 1,154,629 |  |  | $ | 1,136,040 |  |  | $ | 3,208,025 |  |  | $ | 3,084,110 |
Effect of Net Investment Hedge Derivative Instruments | The amount of after-tax gains included in AOCI in the Condensed Consolidated Balance Sheets related to derivative instruments and nonderivative financial instruments designated as net investment hedges and the amount of gains included in the “Interest expense, net” line in the Condensed Consolidated Statements of Income related to amounts excluded from the assessment of hedge effectiveness for derivative instruments designated as net investment hedges are as follows:
|  |  | Amount of Gain (Loss) Recognized in AOCI
|  |  | Quarter Ended |  | Nine Months Ended
|  |  | September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Euro-denominated long-term debt |  | $ | 9,845 |  |  | $ | — |  |  | $ | 9,845 |  |  | $ | — |
Cross-currency swap contracts |  | 6,436 |  |  | — |  |  | 6,436 |  |  | — |
Total |  | $ | 16,281 |  |  | $ | — |  |  | $ | 16,281 |  |  | $ | — |
| Location of Gain (Loss) Recognized in Income |  | Amount of Gain (Loss) Recognized in Income (Amount Excluded from Effectiveness Testing)
|  | Quarter Ended |  | Nine Months Ended
|  | September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Cross-currency swap contracts | Interest expense, net |  | $ | 1,672 |  |  | $ | — |  |  | $ | 1,672 |  |  | $ | — |
|  |  | Quarter Ended |  | Nine Months Ended
|  |  | September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded |  | $ | 43,091 |  |  | $ | 52,795 |  |  | $ | 137,672 |  |  | $ | 146,988 |
Effect of Mark to Market Hedge Derivative Instruments on Condensed Consolidated Statements of Income | The effect of derivative contracts not designated as hedges on the Condensed Consolidated Statements of Income is as follows:
| Location of Gain (Loss) Recognized in Income on Derivatives |  | Amount of Gain (Loss) Recognized in Income
| Quarter Ended |  | Nine Months Ended
| September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
Foreign exchange contracts | Cost of sales |  | $ | (3,055 | ) |  | $ | (2,241 | ) |  | $ | (21,813 | ) |  | $ | 16,870 |
Foreign exchange contracts | Selling, general and administrative expenses |  | 2,546 |  |  | (445 | ) |  | 1,625 |  |  | 330 |
Total |  |  | $ | (509 | ) |  | $ | (2,686 | ) |  | $ | (20,188 | ) |  | $ | 17,200 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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