Derivatives and Fair Value Measurements (Tables)

9 Months Ended

Jul. 02, 2022

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 (as defined in Note 1, "Description of Business and Significant Accounting Policies") 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 2, 2022		October 2, 2021			July 2, 2022		October 2, 2021
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	$	534	$	76	Other accrued liabilities	$	3,108	$	1,119

Fair Values of Derivative Instruments (in thousands)
	Derivative Assets					Derivative Liabilities
		July 2, 2022		October 2, 2021			July 2, 2022		October 2, 2021
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	$	153	$	133	Other accrued liabilities	$	566	$	356

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

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 (Loss) Gain Recognized in OCL on Derivatives
	July 2, 2022		July 3, 2021
Foreign currency forward contracts	$	(3,588)	$	164

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss ("OCL") (in thousands)
for the Nine Months Ended
Derivatives in cash flow hedging relationships	Amount of (Loss) Gain Recognized in OCL on Derivatives
	July 2, 2022		July 3, 2021
Foreign currency forward contracts	$	(2,801)	$	1,575

Schedule of Derivative Impact on (Loss) Gain 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) Gain Reclassified from Accumulated OCL into Income	Amount of (Loss) Gain Reclassified from Accumulated OCL into Income
		July 2, 2022		July 3, 2021
Foreign currency forward contracts	Cost of sales	$	(322)	$	1,290
Foreign currency forward contracts	Selling and administrative expenses	$	(27)	$	92

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) Gain Reclassified from Accumulated OCL into Income	Amount of (Loss) Gain Reclassified from Accumulated OCL into Income
		July 2, 2022		July 3, 2021
Foreign currency forward contracts	Cost of sales	$	(1,174)	$	3,031
Foreign currency forward contracts	Selling and administrative expenses	$	(96)	$	263

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

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 2, 2022		July 3, 2021
Foreign currency forward contracts	Miscellaneous, net	$	(790)	$	83

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 2, 2022		July 3, 2021
Foreign currency forward contracts	Miscellaneous, net	$	(1,615)	$	380

Schedule of Derivatives Fair Value Measurements Using Input Levels

The following table lists the fair values of assets of the Company’s derivatives as of July 2, 2022 and October 2, 2021, by input level:

Fair Value Measurements Using Input Levels Asset/(Liability) (in thousands)
July 2, 2022	Level 1		Level 2		Level 3		Total
Derivatives
Foreign currency forward contracts	$	—	$	(2,987)	$	—	$	(2,987)
October 2, 2021
Derivatives
Foreign currency forward contracts	$	—	$	(1,266)	$	—	$	(1,266)