XML 41 R28.htm IDEA: XBRL DOCUMENT v3.21.2

Financial Instruments and Risk Management (Tables)

6 Months Ended

Jul. 03, 2021

Disclosure Financial Instruments and Risk Management [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

			Hedge Type						July 3, 2021						January 2, 2021
U.S. dollar equivalent notional amount of derivative instruments:
Forward foreign exchange contracts			Cash Flow and Mark to Market						$	355,633					$	617,912
Cross-currency swap contracts			Cash Flow						$	352,920					$	—
Cross-currency swap contracts			Net Investment						$	335,940					$	335,940

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
									July 3, 2021						January 2, 2021
Derivatives designated as hedging instruments:
Forward foreign exchange contracts			Other current assets						$	1,989					$	1
Cross-currency swap contracts			Other current assets						970						918
Forward foreign exchange contracts			Current assets of discontinued operations						17						40
Forward foreign exchange contracts			Other noncurrent assets						732						—
Cross-currency swap contracts			Other noncurrent assets						1,723						—
Derivatives not designated as hedging instruments:
Forward foreign exchange contracts			Other current assets						1,545						2,459
Forward foreign exchange contracts			Current assets of discontinued operations						24						198
Total derivative assets									7,000						3,616
Derivatives designated as hedging instruments:
Forward foreign exchange contracts			Accrued liabilities						(2,329)						(12,898)
Cross-currency swap contracts			Accrued liabilities						(223)						—
Forward foreign exchange contracts			Current liabilities of discontinued operations						(321)						(4,747)
Forward foreign exchange contracts			Other noncurrent liabilities						—						(2,190)
Cross-currency swap contracts			Other noncurrent liabilities						(9,300)						(16,526)
Derivatives not designated as hedging instruments:
Forward foreign exchange contracts			Accrued liabilities						(4,151)						(16,488)
Forward foreign exchange contracts			Current liabilities of discontinued operations						(589)						(2,195)
Total derivative liabilities									(16,913)						(55,044)
Net derivative liability									$	(9,913)					$	(51,428)

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
			Quarters Ended												Six Months Ended
			July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Forward foreign exchange contracts			$	(1,392)					$	(7,051)					$	7,094					$	13,029
Cross-currency swap contracts			717						—						705						—
Total			$	(675)					$	(7,051)					$	7,799					$	13,029

			Location of Gain (Loss) Reclassified from AOCI  into Income						Amount of Gain (Loss) Reclassified from AOCI into Income
									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Forward foreign exchange contracts(1)			Cost of sales						$	(5,278)					$	1,758					$	(9,655)					$	4,627
Forward foreign exchange contracts(1)			Income (loss) from discontinued operations, net of tax						(1,543)						1,399						$	(1,851)					$	3,547
Cross-currency swap contracts(1)			Selling, general and administrative expenses						3,168						—						$	2,611					$	—
Cross-currency swap contracts(1)			Interest expense, net						(1,018)						—						$	(1,018)					$	—
Total									$	(4,671)					$	3,157					$	(9,913)					$	8,174

(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.

									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Total cost of sales in which the effects of cash flow hedges are recorded									$	1,069,682					$	1,029,221					$	1,975,030					$	1,814,123
Total selling, general and administrative expenses in which the effects of cash flow hedges are recorded									$	464,235					$	311,729					$	876,794					$	681,944
Total interest expense, net in which the effects of cash flow hedges are recorded									$	42,440					$	41,075					$	86,900					$	77,102
Total income (loss) from discontinued operations, net of tax in which the effects of cash flow hedges are recorded									$	(19,187)					$	24,613					$	(410,853)					$	11,621

Effect of Net Investment Hedge Derivative Instruments

The amount of after-tax gains (losses) 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
									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Euro-denominated long-term debt									$	(1,544)					$	(4,196)					$	17,756					$	(1,538)
Cross-currency swap contracts									(2,066)						(1,004)						5,307						10,728
Total									$	(3,610)					$	(5,200)					$	23,063					$	9,190

			Location of Gain Recognized in Income						Amount of Gain Recognized in Income (Amount Excluded from Effectiveness Testing)
									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Cross-currency swap contracts			Interest expense, net						$	1,715					$	2,020					$	3,614					$	3,967
									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Total interest expense, net in which the amounts excluded from effectiveness testing for net investment hedges are recorded									$	42,440					$	41,075					$	86,900					$	77,102

Effect of Mark to Market Hedge Derivative Instruments

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
									Quarters Ended												Six Months Ended
									July 3, 2021						June 27, 2020						July 3, 2021						June 27, 2020
Forward foreign exchange contracts			Cost of sales						$	5,629					$	(16,081)					$	18,624					$	(9,532)
Forward foreign exchange contracts			Selling, general and administrative expenses						880						1,962						3,091						928
Forward foreign exchange contracts			Income (loss) from discontinued operations, net of tax						1,314						(3,026)						3,953						(3,451)
Total									$	7,823					$	(17,145)					$	25,668					$	(12,055)

X

- Definition

Disclosure Financial Instruments and Risk Management

+ References

No definition available.

+ Details

Name:	hbi_DisclosureFinancialInstrumentsAndRiskManagementAbstract
Namespace Prefix:	hbi_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Effect of mark to market hedge derivative instruments on the consolidated statements of income.

+ References

No definition available.

+ Details

Name:	hbi_EffectOfMarkToMarketHedgeDerivativeInstrumentsOnCondensedConsolidatedStatementsOfIncomeTableTableTextBlock
Namespace Prefix:	hbi_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=125515794&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=125515794&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=125515794&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for net investment hedges 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 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

+ Details

Name:	us-gaap_ScheduleOfNetInvestmentHedgesStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration