Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 28, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

NOTE 5. Derivative Instruments and Hedging Activities

The Company, when it considers it to be appropriate, enters into forward contracts to hedge the economic exposures arising from foreign currency denominated transactions. At March 28, 2020 and December 31, 2019, these contracts included the future sale of Japanese Yen, Korean Won, Taiwanese dollar and Chinese Yuan Renminbi to purchase U.S. dollars.  Foreign currency forward contracts are not designated as hedges for accounting purposes and therefore, the change in fair value is recorded in general and administrative expenses in the Condensed Consolidated Statements of Operations.  The Company records its forward contracts at fair value in either prepaid expenses and other current assets or other current liabilities in the Condensed Consolidated Balance Sheets.

The dollar equivalent of the U.S. dollar forward contracts and related fair values as of March 28, 2020 and December 31, 2019 were as follows:

	March 28, 2020		December 31, 2019
Notional amount	$	29,031	$	38,887
Fair value of asset	$	283	$	120