Derivative Instruments (Tables)

12 Months Ended

Jan. 03, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

The table below sets forth the fair value of derivative instruments as of January 3, 2021:

	Asset Derivatives as of January 3, 2021			Liability Derivatives as of January 3, 2021
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(in thousands)
Derivative instruments designated as hedging instruments:
Interest rate swap contracts	Other current assets	$	—	Accrued expenses	$	—
Derivative instruments not designated as hedging instruments:
Foreign currency options	Other current assets	37		Accrued expenses	—
		$	37		$	—

The table below sets forth the fair value of derivative instruments as of December 29, 2019:

	Asset Derivatives as of December 29, 2019			Liability Derivatives as of December 29, 2019
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(in thousands)
Derivative instruments designated as hedging instruments:
Interest rate swap contracts	Other current assets	$	—	Accrued expenses	$	5,801
Derivative instruments not designated as hedging instruments:
Foreign currency options	Other current assets	251		Accrued expenses	—
		$	251		$	5,801

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the impact that changes in the fair value of derivatives designated as cash flow hedges and included in the assessment of hedge effectiveness had on accumulated other comprehensive loss, net of tax:

	Fiscal Year
	2020		2019		2018
	(in thousands)
Foreign currency contracts gain (loss)	$	—	$	468	$	(468)
Interest rate swap contracts gain (loss)	(2,027)		(5,957)		890
Gain (loss) recognized in other comprehensive income (loss)	$	(2,027)	$	(5,489)	$	422

Gains and losses from derivatives designated as cash flow hedges reclassified from accumulated other comprehensive loss into net income (loss) are discussed in Note 23 entitled “Items Reclassified From Accumulated Other Comprehensive Loss.”

Derivatives Not Designated as Hedging Instruments

The following table summarizes gains and losses on derivatives not designated as hedging instruments within the consolidated statements of operations:

		Fiscal Year
	Statement of Operations Location	2020		2019		2018
		(in thousands)
Foreign currency options gain (loss)	Other expense	$	13	$	(627)	$	992