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Derivatives and Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of outstanding forward contracts

As of December 31, 2022, the Company had the following outstanding forward contracts designated as cash flow hedges that were entered into to hedge the future payments of intercompany inventory transactions (in millions):

Functional Currency												Contract Currency
Type						Amount						Type						Amount
Euro						93.0						U.S. dollar						99.9
Canadian dollar						50.1						U.S. dollar						38.0
Mexican peso						337.6						U.S. dollar						16.5
British pound						7.9						U.S. dollar						9.8
Japanese yen						1,070.5						U.S. dollar						8.3
Australian dollar						9.0						U.S. dollar						6.2
U.S. dollar						12.4						Japanese Yen						1,620.0

Schedule of derivatives instruments statements of financial performance and financial position, location

The effective portion of gains and losses on cash flow hedges that were recognized in other comprehensive income (loss), net of taxes during fiscal years 2022, 2021 and 2020 are set forth below (in thousands):

Fiscal Year			2022						2021						2020
Cash flow hedges:
Forward contracts			$	12,176					$	5,868					$	2,217
Total gain (loss) recognized in other comprehensive income (loss), net of taxes			$	12,176					$	5,868					$	2,217

Schedule of effective portion of gains and losses on derivative instruments designated and qualifying as cash flow hedges recorded in 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

The following table illustrates the effective portion of gains and losses on derivative instruments recorded in 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 fiscal years 2022, 2021 and 2020 (in thousands):

Derivative Instruments						Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) Location						Effect of Derivative Instruments						Fiscal Year 2022						Fiscal Year 2021						Fiscal Year 2020
Forward contracts designated as cash flow hedging instruments						Cost of sales						Total gain (loss) reclassified from accumulated other comprehensive income (loss)						$	10,789					$	2,429					$	3,748
Forward contracts designated as cash flow hedging instruments						Other income (expense)-net						Total gain (loss) reclassified from accumulated other comprehensive income (loss)						$	3,334					$	(55)					$	602
Forward contracts not designated as hedging instruments						Other income (expense)-net						Total gain (loss) recognized in income						$	128					$	37					$	(113)

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 consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):

			Asset Derivatives																								Liability Derivatives
			December 31, 2022												January 1, 2022												December 31, 2022												January 1, 2022
			Consolidated Balance Sheets Location						Fair Value						Consolidated Balance Sheets Location						Fair Value						Consolidated Balance Sheets Location						Fair Value						Consolidated Balance Sheets Location						Fair Value
Forward contracts designated as cash flow hedging instruments			Prepaid expenses and other current assets						$	2,783					Prepaid expenses and other current assets						$	3,452					Accrued expenses-other						$	2,659					Accrued expenses-other						$	177
Forward contracts not designated as cash flow hedging instruments			Prepaid expenses and other current assets						—						Prepaid expenses and other current assets						—						Accrued expenses-other						16						Accrued expenses-other						—
Forward contracts designated as cash flow hedging instruments			Intangible and other assets-net						112						Intangible and other assets-net						—						Other long-term liabilities						318						Other long-term liabilities						—
Total									$	2,895											$	3,452											$	2,993											$	177

The following table summarizes the effects of the Company's derivative instruments on earnings (in thousands):

						Effect of Derivative Instruments
						Fiscal Year 2022												Fiscal Year 2021
						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 consolidated statements of income (loss) and comprehensive income (loss) in which the effects of cash flow hedges are recorded						$	851,760					$	(1,416)					$	903,662					$	(14,500)
Gain (loss) on cash flow hedging relationships:
Forward contracts designated as cash flow hedging instruments:
Total gain (loss) reclassified from other comprehensive income (loss)						10,789						3,334						2,429						(55)
Forward contracts not designated as cash flow hedging instruments:
Total gain (loss) recognized in income						—						128						—						37

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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.

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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.

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) 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.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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