Derivative Instruments (Tables)

3 Months Ended

Mar. 29, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Forward Contracts Table

The Company had the following outstanding forward contracts (in thousands):

	March 29, 2020			December 31, 2019
Currency	Notional Value	USD Equivalent		Notional Value	USD Equivalent
Derivatives Not Designated as Hedging Instruments:
Korean Won	130,400,000	$	107,516	161,951,500	$	139,688
Euro	37,500	41,275		18,000	20,249
Mexican Peso	180,000	7,647		80,000	4,223
Japanese Yen	600,000	5,540		575,000	5,291
British Pound	2,750	3,364		2,700	3,569
Hungarian Forint	980,000	3,026		870,000	2,962
Canadian Dollar	1,300	922		1,300	1,000
Taiwanese Dollar	22,000	735		37,450	1,256
Singapore Dollar	—	—		845	628

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):

	Asset Derivatives					Liability Derivatives
	Balance	Fair Value				Balance	Fair Value
	Sheet Location	March 29, 2020		December 31, 2019		Sheet Location	March 29, 2020		December 31, 2019
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contracts	Prepaid expenses and other current assets	$	131	$	857	Accrued expenses	$	703	$	23

Offsetting Assets

The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands):

Asset Derivatives					Liability Derivatives
	March 29, 2020		December 31, 2019			March 29, 2020		December 31, 2019
Gross amounts of recognized assets	$	131	$	857	Gross amounts of recognized liabilities	$	703	$	23
Gross amounts offset	—		—		Gross amounts offset	—		—
Net amount of assets presented	$	131	$	857	Net amount of liabilities presented	$	703	$	23

Derivative Instruments, Gain (Loss)

Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands):

	Location in Financial Statements	Three-months Ended
		March 29, 2020			March 31, 2019
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operations	Foreign currency gain (loss)	$	(8,240	)	$	505