Derivative Instruments (Tables)

6 Months Ended

Jun. 28, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Forward Contracts Table

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

	June 28, 2020			December 31, 2019
Currency	Notional Value	USD Equivalent		Notional Value	USD Equivalent
Derivatives Not Designated as Hedging Instruments:
Korean Won	138,690,000	$	115,604	161,951,500	$	139,688
Euro	50,000	56,137		18,000	20,249
Mexican Peso	184,700	8,051		80,000	4,223
Japanese Yen	600,000	5,587		575,000	5,291
Hungarian Forint	1,085,000	3,443		870,000	2,962
British Pound	1,940	2,406		2,700	3,569
Taiwanese Dollar	42,765	1,455		37,450	1,256
Canadian Dollar	1,130	827		1,300	1,000
Singapore Dollar	1,090	784		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	June 28, 2020		December 31, 2019		Sheet Location	June 28, 2020		December 31, 2019
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contracts	Prepaid expenses and other current assets	$	46	$	857	Accrued expenses	$	458	$	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
	June 28, 2020		December 31, 2019			June 28, 2020		December 31, 2019
Gross amounts of recognized assets	$	46	$	857	Gross amounts of recognized liabilities	$	458	$	23
Gross amounts offset	—		—		Gross amounts offset	—		—
Net amount of assets presented	$	46	$	857	Net amount of liabilities presented	$	458	$	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				Six-months Ended
		June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operations	Foreign currency gain (loss)	$	60	$	(439)	$	(8,180)	$	66