Financial Instruments Measured at Fair Value (Tables)

3 Months Ended

Mar. 28, 2020

Fair Value Disclosures

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis Table [Text Block]

The following table presents assets (liabilities) measured at fair value on a recurring basis at March 28, 2020:

	Balance Sheet Location	Level 1		Level 2			Level 3		Total
Cash equivalents (a)	Cash and cash equivalents/ other assets	$	18,169	$	—		$	—	$	18,169
Equity investments (b)	Other assets	32,888		—			—		32,888
Interest rate swaps	Other liabilities	—		(50,530		)	—		(50,530		)
Foreign exchange contracts	Other current assets/ other assets	—		51,188			—		51,188
Foreign exchange contracts	Accrued expenses	—		(7,398		)	—		(7,398		)
		$	51,057	$	(6,740	)	$	—	$	44,317

The following table presents assets (liabilities) measured at fair value on a recurring basis at December 31, 2019:

	Balance Sheet Location	Level 1		Level 2			Level 3		Total
Cash equivalents (a)	Cash and cash equivalents/ other assets	$	18,579	$	—		$	—	$	18,579
Equity investments (b)	Other assets	44,677		—			—		44,677
Interest rate swaps	Other liabilities	—		(11,574		)	—		(11,574		)
Foreign exchange contracts	Other current assets/ other assets	—		24,092			—		24,092
Foreign exchange contracts	Accrued expenses	—		(2,132		)	—		(2,132		)
		$	63,256	$	10,386		$	—	$	73,642

(a) Cash equivalents include highly liquid investments with an original maturity of less than three months.

(b) The company has an 8.4% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. The company recorded an unrealized loss of $9,995 and an unrealized gain of $1,824 for the first quarter of 2020 and 2019, respectively, on equity securities held at the end of the quarter.

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]

The effects of derivative instruments on the company’s consolidated statements of operations and other comprehensive income are as follows:

	Quarter Ended
	March 28, 2020			March 30, 2019
Gain (Loss) Recognized in Income
Foreign exchange contracts	$	4,493		$	3,489
Interest rate swaps	(1,529		)	(319		)
Total	$	2,964		$	3,170
Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax
Foreign exchange contracts	$	16,100		$	5,953
Interest rate swaps	(29,556		)	—
Total	$	(13,456	)	$	5,953

Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]

Fair Value Disclosures

Description of Derivative Hedging Instruments

During the first quarter of 2019, the company entered into a series of foreign exchange contracts to sell Euro and buy United States Dollars, with various maturity dates as noted in the table below:

Maturity Date	Notional Amount
March 2023	EUR 50,000
September 2024	EUR 50,000
April 2025	EUR 100,000
January 2028	EUR 100,000
Total	EUR 300,000