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DERIVATIVES AND RISK MANAGEMENT (Tables) | 9 Months Ended
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Sep. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of outstanding forward contracts | As of September 28, 2019, the Company had the following outstanding forward contracts designated as cash flow hedges that were entered into to hedge the future payments of inventory transactions (in millions):
Functional Currency |  | Contract Currency
Type |  | Amount |  | Type |  | Amount
Euro |  | 111.5 |  |  | U.S. dollar |  | 131.2 |
Canadian dollar |  | 43.4 |  |  | U.S. dollar |  | 32.9 |
British pound |  | 16.1 |  |  | U.S. dollar |  | 21.1 |
Japanese yen |  | 1,446.7 |  |  | U.S. dollar |  | 13.5 |
Mexican peso |  | 187.8 |  |  | U.S. dollar |  | 9.4 |
Australian dollar |  | 7.8 |  |  | U.S. dollar |  | 5.5 |
U.S. dollar |  | 19.8 |  |  | Japanese yen |  | 2,120.0 |
Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes | The gains and losses on cash flow hedges that were recognized in other comprehensive income (loss), net of taxes during the Third Quarter, Prior Year Quarter, Year To Date Period and Prior Year YTD Period are set forth below (in thousands):
| For the 13 Weeks Ended September 28, 2019 |  | For the 13 Weeks Ended September 29, 2018
Cash flow hedges: |  |  |  |  |
Forward contracts | $ | 6,062 |  |  | $ | 3,097 |
Total gain (loss) recognized in other comprehensive income (loss), net of taxes | $ | 6,062 |  |  | $ | 3,097 |
| For the 39 Weeks Ended September 28, 2019 |  | For the 39 Weeks Ended September 29, 2018
Cash flow hedges: |  |  |  |  |
Forward contracts | $ | 8,226 |  |  | $ | 10,606 |
Total gain (loss) recognized in other comprehensive income (loss), net of taxes | $ | 8,226 |  |  | $ | 10,606 |
Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes reclassified into earnings and derivatives not designated as hedging instruments recorded directly to earnings | The following table illustrates the gains and losses on derivative instruments recorded in accumulated other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during the Third Quarter, Prior Year Quarter, Year To Date Period and Prior Year YTD Period (in thousands):
Derivative Instruments |  | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location |  | Effect of Derivative Instruments |  | For the 13 Weeks Ended September 28, 2019 |  | For the 13 Weeks Ended September 29, 2018
Forward contracts designated as cash flow hedging instruments |  | Cost of sales |  | Total gain (loss) reclassified from accumulated other comprehensive income (loss) |  | $ | 2,518 |  |  | $ | — |
Forward contracts designated as cash flow hedging instruments |  | Other income (expense)-net |  | Total gain (loss) reclassified from accumulated other comprehensive income (loss) |  | $ | 1,120 |  |  | $ | 393 |
Forward contracts not designated as hedging instruments |  | Other income (expense)-net |  | Total gain (loss) recognized in income |  | $ | 27 |  |  | $ | (11 | )
Derivative Instruments |  | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location |  | Effect of Derivative Instruments |  | For the 39 Weeks Ended September 28, 2019 |  | For the 39 Weeks Ended September 29, 2018
Forward contracts designated as cash flow hedging instruments |  | Cost of sales |  | Total gain (loss) reclassified from accumulated other comprehensive income (loss) |  | $ | 7,309 |  |  | $ | — |
Forward contracts designated as cash flow hedging instruments |  | Other income (expense)-net |  | Total gain (loss) reclassified from accumulated other comprehensive income (loss) |  | $ | 1,347 |  |  | $ | (5,291 | )
Forward contracts not designated as hedging instruments |  | Other income (expense)-net |  | Total gain (loss) recognized in income |  | $ | (6 | ) |  | $ | (113 | )
Interest rate swap not designated as a cash flow hedging instrument |  | Other income (expense)-net |  | Total gain (loss) recognized in income |  | $ | — |  |  | $ | 67 |
Schedule of fair value amounts for derivative instruments as separate asset and liability values on a gross basis and their location on condensed consolidated balance sheets | The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):
|  | Asset Derivatives |  | Liability Derivatives
|  | September 28, 2019 |  | December 29, 2018 |  | September 28, 2019 |  | December 29, 2018
Derivative Instruments |  | Condensed Consolidated Balance Sheets Location |  | Fair Value |  | Condensed Consolidated Balance Sheets Location |  | Fair Value |  | Condensed Consolidated Balance Sheets Location |  | Fair Value |  | Condensed Consolidated Balance Sheets Location |  | Fair Value
Forward contracts designated as cash flow hedging instruments |  | Prepaid expenses and other current assets |  | $ | 9,204 |  |  | Prepaid expenses and other current assets |  | $ | 9,217 |  |  | Accrued expenses- other |  | $ | 349 |  |  | Accrued expenses- other |  | $ | 660 |
Forward contracts not designated as cash flow hedging instruments |  | Prepaid expenses and other current assets |  | 11 |  |  | Prepaid expenses and other current assets |  | 15 |  |  | Accrued expenses- other |  | — |  |  | Accrued expenses- other |  | — |
Forward contracts designated as cash flow hedging instruments |  | Intangible and other assets-net |  | 541 |  |  | Intangible and other assets-net |  | 453 |  |  | Other long-term liabilities |  | 28 |  |  | Other long-term liabilities |  | 70 |
Total |  |  |  | $ | 9,756 |  |  |  |  | $ | 9,685 |  |  |  |  | $ | 377 |  |  |  |  | $ | 730 |
The following table summarizes the effects of the Company's derivative instruments on earnings (in thousands):
|  | Effect of Derivative Instruments
|  | For the 13 Weeks Ended September 28, 2019 |  | For the 13 Weeks Ended September 29, 2018
|  | Cost of Sales |  | Other Income (Expense)-net |  | Cost of Sales |  | Other Income (Expense)-net
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded |  | $ | 260,946 |  |  | $ | (1,424 | ) |  | $ | 282,295 |  |  | $ | (2,895 | )
Gain (loss) on cash flow hedging relationships: |  |  |  |  |  |  |  |
Forward contracts designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Total gain (loss) reclassified from other comprehensive income (loss) |  | 2,518 |  |  | 1,120 |  |  | — |  |  | 393 |
|  | Effect of Derivative Instruments
|  | For the 39 Weeks Ended September 28, 2019 |  | For the 39 Weeks Ended September 29, 2018
|  | Cost of Sales |  | Other Income (Expense)-net |  | Cost of Sales |  | Other Income (Expense)-net
Total amounts of income and expense line items presented in the condensed consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded |  | $ | 714,573 |  |  | $ | 24,995 |  |  | $ | 831,333 |  |  | $ | (5,338 | )
Gain (loss) on cash flow hedging relationships: |  |  |  |  |  |  |  |
Forward contracts designated as cash flow hedging instruments: |  |  |  |  |  |  |  |
Total gain (loss) reclassified from other comprehensive income (loss) |  | 7,309 |  |  | 1,347 |  |  | — |  |  | (5,291 | )

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