Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 29, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Cash Flow Hedging Instruments

At December 29, 2019 and December 30, 2018, the notional amounts and fair values of assets (liabilities) for the Company’s foreign currency forward contracts designated as cash flow hedging instruments were as follows:

	2019			2018
	Notional Amount		Fair Value	Notional Amount	Fair Value
Hedged transaction
Inventory purchases	$	398,800	8,727	468,305	15,089
Sales	124,920		4,037	298,194	11,232
Royalties and Other	19,499		140	26,341	(304	)
Total	$	543,219	12,904	792,840	26,017

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The fair values of the Company’s foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheet at December 29, 2019 and December 30, 2018 as follows:

	2019			2018
Prepaid expenses and other current assets
Unrealized gains	$	12,133		21,718
Unrealized losses	(3,955		)	(972	)
Net unrealized gain	$	8,178		20,746
Other assets
Unrealized gains	$	6,652		6,173
Unrealized losses	—			(843	)
Net unrealized gain	$	6,652		5,330
Accrued liabilities
Unrealized gains	$	293		77
Unrealized losses	(2,219		)	(136	)
Net unrealized loss	$	(1,926	)	(59	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings to net earnings for the years ended December 29, 2019, December 30, 2018 and December 31, 2017 as follows:

	2019		2018		2017
Consolidated Statements of Operations Classification
Cost of sales	$	16,689	3,909		(1,905	)
Sales	5,644		3,479		5,315
Royalties and other	193		(527	)	(6,000	)
Net realized gains (losses)	$	22,526	6,861		(2,590	)

Fair Values of Undesignated Derivative Financial Instruments

At December 29, 2019 and December 30, 2018, the fair value of the Company’s undesignated derivative financial instruments are recorded in the consolidated balance sheets as follows:

	2019			2018
Accrued liabilities
Unrealized gains	$	13		1,269
Unrealized losses	(3,820		)	(2,820	)
Net unrealized loss	$	(3,807	)	(1,551	)
Total unrealized losses	$	(3,807	)	(1,551	)