Derivatives (Tables)

9 Months Ended

Jul. 04, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments

The tables below present information regarding the fair values of derivative instruments and the effects of derivative instruments on the Company’s Condensed Consolidated Financial Statements:

Fair Values of Derivative Instruments (in thousands)
	Derivative Assets					Derivative Liabilities
		July 4, 2020		September 28, 2019			July 4, 2020		September 28, 2019
Derivatives designated as hedging instruments	Balance sheet classification	Fair Value		Fair Value		Balance sheet classification	Fair Value		Fair Value
Foreign currency forward contracts	Prepaid expenses and other	$	1,955	$	156	Other accrued liabilities	$	175	$	798

Fair Values of Derivative Instruments (in thousands)
	Derivative Assets					Derivative Liabilities
		July 4, 2020		September 28, 2019			July 4, 2020		September 28, 2019
Derivatives not designated as hedging instruments	Balance sheet classification	Fair Value		Fair Value		Balance sheet classification	Fair Value		Fair Value
Foreign currency forward contracts	Prepaid expenses and other	$	297	$	912	Other accrued liabilities	$	141	$	54

Schedule of Derivative Impact on Accumulated Other Comprehensive Income (Loss)

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands)
for the Three Months Ended
Derivatives in cash flow hedging relationships	Amount of Gain (Loss) Recognized in OCL on Derivatives
	July 4, 2020		June 29, 2019
Foreign currency forward contracts	$	1,990	$	(578)

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss (in thousands)
for the Nine Months Ended
Derivatives in cash flow hedging relationships	Amount of (Loss) Gain Recognized in OCL on Derivatives
	July 4, 2020		June 29, 2019
Foreign currency forward contracts	$	(2,150)	$	275

Schedule of Derivative Impact on Gain (Loss) Recognized in Income

Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands)
for the Three Months Ended
Derivatives in cash flow hedging relationships	Classification of Loss Reclassified from Accumulated OCL into Income	Amount of Loss Reclassified from Accumulated OCL into Income
		July 4, 2020		June 29, 2019
Foreign currency forward contracts	Cost of sales	$	(1,102)	$	(153)
Foreign currency forward contracts	Selling and administrative expenses	(86)		(19)

Derivative Impact on (Loss) Gain Recognized in Condensed Consolidated Statements of Comprehensive Income (in thousands)
for the Nine Months Ended
Derivatives in cash flow hedging relationships	Classification of Loss Reclassified from Accumulated OCL into Income	Amount of Loss Reclassified from Accumulated OCL into Income
		July 4, 2020		June 29, 2019
Foreign currency forward contracts	Cost of sales	$	(925)	$	(1,507)
Foreign currency forward contracts	Selling and administrative expenses	(87)		(174)

Schedule of Amount of (Loss) Gain on Derivatives Recognized in Income

Derivatives not designated as hedging instruments	Location of Gain Recognized on Derivatives in Income	Amount of Gain on Derivatives Recognized in Income
		July 4, 2020		June 29, 2019
Foreign currency forward contracts	Miscellaneous, net	$	166	$	235

Derivatives not designated as hedging instruments	Location of (Loss) Gain Recognized on Derivatives in Income	Amount of (Loss) Gain on Derivatives Recognized in Income
		July 4, 2020		June 29, 2019
Foreign currency forward contracts	Miscellaneous, net	$	(467)	$	1,865

Schedule of Derivatives Fair Value Measurements Using Input Levels

The following table lists the fair values of liabilities of the Company’s derivatives as of July 4, 2020 and September 28, 2019, by input level:

Fair Value Measurements Using Input Levels Asset (in thousands)
July 4, 2020	Level 1		Level 2		Level 3		Total
Derivatives
Foreign currency forward contracts	$	—	$	1,936	$	—	$	1,936
September 28, 2019
Derivatives
Foreign currency forward contracts	$	—	$	216	$	—	$	216