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Derivative Instruments (Tables)

9 Months Ended

Oct. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value

The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of October 2, 2022 and January 2, 2022, for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. The Company only has cash flow hedges that are designated as hedging instruments.

			Derivatives Fair Value
Derivatives Not Designated as Hedging Instruments			October 2, 2022						January 2, 2022						Balance Sheet Location
Commodity derivatives			$	570					$	1,486					Prepaid expense and other current assets
Foreign currency derivatives			562						—						Prepaid expense and other current assets
Total Assets			$	1,132					$	1,486
Foreign currency derivatives			$	219					$	80					Accrued liabilities
Total Liabilities			$	219					$	80

			Derivatives Fair Value
Derivatives Designated as Hedging Instruments			October 2, 2022						January 2, 2022						Balance Sheet Location
Interest rate derivatives (current)			$	11,623					$	—					Prepaid expense and other current assets
Interest rate derivatives (noncurrent)			6,774						—						Other assets
Total Assets			$	18,397					$	—
Interest rate derivatives (current)			$	—					$	8,535					Accrued liabilities
Interest rate derivatives (noncurrent)			—						6,132						Other long-term obligations and deferred credits
Total Liabilities			$	—					$	14,667

Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss)

The effect of derivative instruments on the Condensed Consolidated Statements of Operations for the quarter and three quarters ended October 2, 2022 and October 3, 2021 is as follows:

			Derivative Gain/(Loss) Recognized in Income for the Quarter Ended												Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended
Derivatives Designated as Hedging Instruments			October 2, 2022						October 3, 2021						October 2, 2022						October 3, 2021						Location of Derivative Gain/(Loss) Recognized in Income
Loss on interest rate derivatives			$	(107)					$	(2,613)					$	(4,478)					$	(7,704)					Interest expense, net
			$	(107)					$	(2,613)					$	(4,478)					$	(7,704)

			Derivative Gain/(Loss) Recognized in Income for the Quarter Ended												Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended
Derivatives Not Designated as Hedging Instruments			October 2, 2022						October 3, 2021						October 2, 2022						October 3, 2021						Location of Derivative Gain/(Loss) Recognized in Income
Gain on foreign currency derivatives			$	678					$	632					$	423					$	256					Other non-operating expense/(income), net
(Loss)/gain on commodity derivatives			(1,589)						(114)						(917)						1,356						Other non-operating expense/(income), net
			$	(911)					$	518					$	(494)					$	1,612

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- References

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

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- 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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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