FOREIGN CURRENCY CONTRACTS (Tables)

12 Months Ended

Dec. 28, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional and Fair Value of Foreign Currency Contracts

The notional amount and fair value of the open contract is summarized as follows:

December 28, 2019
Notional Amount		Fair Value			Balance Sheet Location
(in thousands)
$	115,038	$	(876	)	Other current liabilities

The notional amount and fair value of the open contract is summarized as follows:

December 29, 2018
Notional Amount		Fair Value			Balance Sheet Location
(in thousands)
$	343,300	$	(1,319	)	Other current liabilities

Schedule of Derivative Instruments on Statements of Income

The following table summarizes the effect of the foreign exchange forward contracts in connection with certain intercompany loans on the Company’s consolidated statements of income:

    

	Fiscal Year
	2019
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Other income, net	$	12,293	$	(121	)

The following table summarizes the effect of the foreign exchange forward contracts entered into to limit the Company’s foreign currency exposure related to U.S. dollar denominated loans borrowed by a non-U.S. Euro functional currency entity under the Credit Facility on the Company’s consolidated statements of income:

	Fiscal Year
	2019				2018
Location of gain (loss)	Financial statement caption amount		Amount of gain (loss)		Financial statement caption amount		Amount of gain (loss)
	(in thousands)
Interest expense	$	60,882	$	18,672	$	63,772	1,486