The following tables present information about our hedge instruments measured at fair value on a recurring basis as of December 31, 2023 and January 1, 2023 all of which utilize Level 2 inputs under the fair value hierarchy: | | | | | | | | | | | | | | | | | | | (In thousands) | Balance Sheet Classification | December 31, 2023 | | January 1, 2023 | | | Assets: | | | | | | | Derivatives designated as hedging instruments: | | | | | | | Foreign currency forward option contracts | Prepaid expenses and other current assets | $ | — | | | $ | 64 | | | | Foreign currency forward exchange contracts | Prepaid expenses and other current assets | — | | | 63 | | | | | $ | — | | | $ | 127 | | | | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | Foreign currency forward exchange contracts | Prepaid expenses and other current assets | $ | 313 | | | $ | 576 | | | | | $ | 313 | | | $ | 703 | | | | | | | | | | Liabilities: | | | | | | | Derivatives designated as hedging instruments: | | | | | | Foreign currency forward option contracts | Accrued liabilities | $ | — | | | $ | 213 | | | | Foreign currency forward exchange contracts | Accrued liabilities | 2,440 | | | 5,105 | | | | | $ | 2,440 | | | $ | 5,318 | | | | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | Foreign currency forward exchange contracts | Accrued liabilities | $ | 16 | | | $ | — | | | | | $ | 2,456 | | | $ | 5,318 | | | | | | | | |
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