DERIVATIVES AND RISK MANAGEMENT (Tables)

9 Months Ended

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		)