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Derivative Instruments
 3 Months Ended
Mar. 30, 2019
Derivative Instruments
12. Derivative Instruments
The Company uses foreign currency forward contracts to mitigate variability in gains and losses generated from the re-measurement of certain monetary assets and liabilities denominated in foreign currencies and to offset certain operational exposures from the impact of changes in foreign currency exchange rates. These derivatives are carried at fair value with changes recorded in interest income and other, net in the condensed consolidated statements of operations. Changes in the fair value of these derivatives are largely offset by re-measurement of the underlying assets and liabilities. Cash flows from such derivatives are classified as operating activities. The derivatives have maturities of approximately 30 days.
The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its condensed consolidated balance sheets as of March 30, 2019 and December 29, 2018.
 
 
 
 
Notional Amounts
 
 
Derivative Liabilities
 
 
Derivative Instrument
 
 
March 30,
2019
 
December 29,
2018
 
 
March 30,

2019
 
 
December 29,
2018
 
 
 
 
 
 
 
 
 
 
 
 
Balance
Sheet
Line
 
 
 
Fair
Value
 
 
 
Balance
Sheet
Line
 
 
 
Fair
Value
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Undesignated Hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Forward Foreign Currency Contracts
 
 
 $
1,558
 
 
1,764
 
 
 
* 
 
 
$
8
 
 
 
 *
 
 
$
8
 
Total Hedges
 
 
 $
1,558
 
 
1,764
 
 
 
 
 
 
$
8
 
 
 
 
 
 
 
8
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Other accrued liabilities