Helios Technologies Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments & Hedging Activities (Tables)

Derivative Instruments & Hedging Activities (Tables)

9 Months Ended

Oct. 01, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments Included in Consolidated Balance Sheets

The fair value of the Company’s derivative financial instruments included in the Consolidated Balance Sheets is presented as follows:


	Asset Derivatives					Liability Derivatives
	Balance Sheet	Fair Value (1)		Fair Value (1)		Balance Sheet	Fair Value (1)		Fair Value (1)
	Location	October 1, 2022		January 1, 2022		Location	October 1, 2022		January 1, 2022
Derivatives designated as hedging instruments:
Interest rate swap contracts	Other assets	$	11,997	$	1,521	Other non-current liabilities	$	—	$	3,248
Derivatives not designated as hedging instruments:
Forward foreign exchange contracts	Other current assets		2,625		866	Other current liabilities		73		51
Forward foreign exchange contracts	Other assets		423		174	Other non-current liabilities		—		—
Total derivatives		$	15,045	$	2,561		$	73	$	3,299
(1) See Note 4 for information regarding the inputs used in determining the fair value of derivative assets and liabilities.

Schedule of Gains and Losses Related to Derivative Financial Instruments

The amount of gains and losses related to the Company’s derivative financial instruments for the nine months ended October 1, 2022 and October 2, 2021, are presented as follows:


	Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives (Effective Portion)				Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Earnings (Effective Portion)
	October 1, 2022		October 2, 2021		into Earnings (Effective Portion)	October 1, 2022			October 2, 2021
Derivatives in cash flow hedging relationships:
Interest rate swap contracts	$	13,726	$	3,718	Interest expense, net	$	(1,447	)	$	(3,137	)

Interest expense presented in the Consolidated Statements of Operations, in which the effects of cash flow hedges are recorded, totaled $11,719 and $12,965 for the nine months ended October 1, 2022 and October 2, 2021, respectively.


	Amount of Gain or (Loss) Recognized in Earnings on Derivatives				Location of Gain or (Loss) Recognized
	October 1, 2022		October 2, 2021		in Earnings on Derivatives
Derivatives not designated as hedging instruments:
Forward foreign exchange contracts	$	6,433	$	3,401	Foreign currency transaction gain / loss, net