Derivatives (Tables)

6 Months Ended

Jul. 03, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes the fair value of derivative instruments in the accompanying condensed consolidated balance sheet:


		July 3, 2021				January 2, 2021
	Balance Sheet Location	Asset (Liability) (a)		Notional Amount (b)		Asset (Liability) (a)		Notional Amount
(In thousands)
Derivatives Designated as Hedging Instruments:
Derivatives in an Asset Position:
Forward currency-exchange contract	Other Current Assets	$	—	$	—	$	25	$	842
Derivatives in a Liability Position:
Forward currency-exchange contract	Other Current Liabilities	$	(6)	$	842	$	—	$	—
2018 Swap Agreement	Other Long-Term Liabilities	$	(850)	$	15,000	$	(1,099)	$	15,000

Derivatives Not Designated as Hedging Instruments:
Derivatives in an Asset Position:
Forward currency-exchange contracts	Other Current Assets	$	—	$	—	$	12	$	582
Derivatives in a Liability Position:
Forward currency-exchange contracts	Other Current Liabilities	$	—	$	—	$	(7)	$	825

(a) See Note 8, Fair Value Measurements and Fair Value of Financial Instruments, for the fair value measurements relating to these financial instruments.

(b) The 2021 notional amounts are indicative of the level of the Company's recurring derivative activity.

Activity in Accumulated Other Comprehensive Items (OCI)

The following table summarizes the activity in AOCI associated with the Company's derivative instruments designated as cash flow hedges as of and for the six months ended July 3, 2021:


(In thousands)	Interest Rate Swap Agreement		Forward Currency- Exchange Contract		Total
Unrealized (Loss) Gain, Net of Tax, at January 2, 2021	$	(846)	$	18	$	(828)
Loss reclassified to earnings (a)	169		—		169
Gain (loss) recognized in AOCI	32		(23)		9
Unrealized Loss, Net of Tax, at July 3, 2021	$	(645)	$	(5)	$	(650)

(a) See Note 6, Accumulated Other Comprehensive Items, for the income statement classification.