Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments & Hedging Activities (Tables)

v3.20.2
Derivative Instruments & Hedging Activities (Tables)
9 Months Ended
Sep. 26, 2020
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

 

September 26, 2020

 

December 28, 2019

 

 

Location

 

September 26, 2020

 

December 28, 2019

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

Other assets

 

$

 

$

 

 

Other non-current liabilities

 

$

8,599

 

$

5,792

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

Forward foreign exchange contracts

Other current assets

 

 

340

 

 

509

 

 

Other current liabilities

 

 

254

 

 

213

 

Forward foreign exchange contracts

Other assets

 

 

76

 

 

306

 

 

Other non-current liabilities

 

 

339

 

 

6

 

Total derivatives

 

 

$

416

 

$

815

 

 

 

 

$

9,192

 

$

6,011

 

(1) See Note 3 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 September 26, 2020 and September 28, 2019, 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)

 

 

 

September 26, 2020

 

September 28, 2019

 

 

into Earnings (Effective Portion)

 

September 26, 2020

 

September 28, 2019

 

Derivatives in cash flow hedging relationships:

 

 

 

 

 

 

 

 

 

 

Interest rate swap contract

 

$

(2,807

)

$

(4,539

)

 

Interest expense, net

 

$

(2,630

)

$

(658

)

 

 

Amount of Gain or (Loss) Recognized

in Earnings on Derivatives

 

 

Location of Gain or (Loss) Recognized

 

 

September 26, 2020

 

September 28, 2019

 

 

in Earnings on Derivatives

Derivatives not designated as hedging instruments:

 

 

 

Forward foreign exchange contracts

 

$

(2,513

)

$

3,973

 

 

Foreign currency transaction gain loss, net