| | | | | | | | | | | | | | | | | | |
Notional Amount | | Start Date | | End Date | | Pay Fixed Rate | | Receive Current Floating Rate | | Fair Value | | Balance Sheet Location |
$ | 200,000 |
| | Jun 2017 | | Jun 2020 | | 1.1325 | % | | 2.4041 | % | | $ | 1,448 |
| | Accrued expenses and other current liabilities |
200,000 |
| | Jun 2020 | | Jun 2023 | | 2.1785 |
| | (a) | | (2,794 | ) | | Other long-term liabilities |
400,000 |
| | Apr 2019 | | Apr 2020 | | 2.4150 |
| | 2.4185 |
| | (1,485 | ) | | Accrued expenses and other current liabilities |
__________
(a) The interest rate swap is not in effect until June 2020.
Information regarding outstanding foreign currency forward contracts designated as cash flow hedges as of June 28, 2019 is as follows (dollars in thousands):
|
| | | | | | | | | | | | | | | | |
Notional Amount | | Start Date | | End Date | | $/Foreign Currency | | Fair Value | | Balance Sheet Location |
$ | 11,337 |
| | Jul 2019 | | Sep 2019 | | 1.1628 | | Euro | | $ | (195 | ) | | Prepaid expenses and other current assets |
10,499 |
| | Jul 2019 | | Dec 2019 | | 0.0500 | | Peso | | 254 |
| | Prepaid expenses and other current assets |
12,085 |
| | Jul 2019 | | Dec 2019 | | 0.0504 | | Peso | | 205 |
| | Prepaid expenses and other current assets |
|
| | | | | | | | | | |
| | | | Fair Value |
| | Fair Value Hierarchy | | Assets | | Liabilities |
June 28, 2019 | | | | | | |
Interest rate swaps | | Level 2 | | $ | — |
| | $ | 2,831 |
|
Foreign currency contracts | | Level 2 | | 264 |
| | — |
|
| | | | | | |
December 28, 2018 | | | | | | |
Interest rate swaps | | Level 2 | | $ | 4,171 |
| | $ | — |
|
Foreign currency contracts | | Level 2 | | — |
| | 732 |
|
Equity Method Investments [Table Text Block] | | | | | | | | | | | | | | | | | | | June 28, 2019 | | December 28, 2018 | Equity method investment | | | | | $ | 14,910 |
| | $ | 15,148 |
| Non-marketable equity securities | | | | | 6,092 |
| | 7,667 |
| Total equity investments | | | | | $ | 21,002 |
| | $ | 22,815 |
|
(14.) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Continued) The components of (Gain) Loss on Equity Investments, Net for each period were as follows (in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 28, 2019 | | June 29, 2018 | | June 28, 2019 | | June 29, 2018 | Equity method investment (income) loss | $ | 36 |
| | $ | (284 | ) | | 77 |
| | (5,254 | ) | Impairment charges | 1,575 |
| | — |
| | 1,575 |
| | — |
| Observable price adjustments on non-marketable equity securities | — |
| | — |
| | — |
| | — |
| Total (gain) loss on equity investments, net | $ | 1,611 |
| | $ | (284 | ) | | $ | 1,652 |
| | $ | (5,254 | ) |
|
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following tables present the amounts in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items for the three and six months ended June 28, 2019 and June 29, 2018 (in thousands): | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | June 28, 2019 | | June 29, 2018 | | | Total | | Amount of Gain (Loss) on Cash Flow Hedge Activity | | Total | | Amount of Gain (Loss) on Cash Flow Hedge Activity | Sales | | $ | 314,194 |
| | $ | (473 | ) | | $ | 314,464 |
| | $ | (141 | ) | Cost of sales | | 217,210 |
| | 462 |
| | 215,699 |
| | 159 |
| Interest expense | | 13,612 |
| | 714 |
| | 15,234 |
| | 398 |
|
|
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following tables present the amounts affecting the Condensed Consolidated Statements of Operations for the three and six months ended June 28, 2019 and June 29, 2018 (in thousands): | | | | | | | | | | | | | | | | | | | | | | Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives | | Amount of Gain (Loss) Reclassified from AOCI into Earnings | | | Three months ended, | | Location of Gain (Loss) Reclassified from AOCI into Earnings | | Three months ended, | | | June 28, 2019 | | June 29, 2018 | | | June 28, 2019 | | June 29, 2018 | Interest rate swap | | $ | (5,151 | ) | | $ | 610 |
| | Interest expense | | $ | 714 |
| | $ | 398 |
| Foreign exchange forwards | | 1 |
| | (1,114 | ) | | Sales | | (473 | ) | | (141 | ) | Foreign exchange forwards | | 735 |
| | (1,719 | ) | | Cost of sales | | 462 |
| | 159 |
| | | | | | | | | | | | | | Six months ended, | | Location of Gain (Loss) Reclassified from AOCI into Earnings | | Six months ended, | | | June 28, 2019 | | June 29, 2018 | | | June 28, 2019 | | June 29, 2018 | Interest rate swap | | $ | (5,599 | ) | | $ | 2,109 |
| | Interest expense | | $ | 1,403 |
| | $ | 632 |
| Foreign exchange forwards | | (699 | ) | | (476 | ) | | Sales | | (794 | ) | | (2 | ) | Foreign exchange forwards | | 1,729 |
| | 1,268 |
| | Cost of sales | | 828 |
| | 595 |
|
|
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- DefinitionTabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571
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- DefinitionTabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959
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- DefinitionTabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959
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- DefinitionTabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258
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