Derivatives and Hedging Activities (Tables)

3 Months Ended

Apr. 03, 2016

Derivative Instruments, Gain (Loss)

Schedule of Derivative Instruments

As of April 3, 2016, the notional amount and unrealizedgain on the effective portion of the outstanding foreign exchange forward contracts to purchase Japanese yen that are designated as cash flow hedges are shown in both Japanese yen and U.S. dollar, based upon the exchange rate at April 3, 2016, as follows:

	Notional Amount				Unrealized Gain
	(Japanese yen, in billions)		(U.S. dollar, in thousands)		(U.S. dollar, in thousands)
Designated foreign exchange forward contracts	¥	92.0	$	824,385	$	28,782

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

Gross fair value of derivative contracts was as follows:

	Derivative assets reported in
	Other Current Assets
	April 3, 2016		January 3, 2016
	(In thousands)
Foreign exchange forward contracts designated	$	28,784	$	1,307
Foreign exchange forward contracts not designated	6,905		2,069
Total derivatives	$	35,689	$	3,376

	Derivative liabilities reported in
	Other Current Accrued Liabilities
	April 3, 2016		January 3, 2016
	(In thousands)
Foreign exchange forward contracts designated	$	2	$	4
Foreign exchange forward contracts not designated	510		1,743
Total derivatives	$	512	$	1,747

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The impact of the effective portion of designated cash flow and net investment derivative contracts on the Company’s results of operations was as follows:

	Three months ended
	Amount of gain recognized in OCI				Amount of loss reclassified from AOCI to earnings
	April 3, 2016		March 29, 2015		April 3, 2016			March 29, 2015
	(In thousands)
Foreign exchange forward contracts:
Cash flow hedges	$	28,388	$	849	$	(1,448	)	$	(11,605	)
Net investment hedges	—		1,312		—			—
Total foreign exchange forward contracts	$	28,388	$	2,161	$	(1,448	)	$	(11,605	)

Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net

The following table presents the forward points on foreign exchange contracts excluded for the purposes of cash flow hedging designation recognized in other income (expense):

	Three months ended
	April 3, 2016			March 29, 2015
	(In thousands)
Foreign exchange forward contracts	$	(1,877	)	$	(159	)

Effect Of Non-designated Derivative Contracts

The effect of non-designated derivative contracts on the Company’s results of operations recognized in other income (expense) was as follows:

	Three months ended
	April 3, 2016			March 29, 2015
	(In thousands)
Gain (loss) on foreign exchange forward contracts including forward point income	$	22,753		$	(559	)
Loss from revaluation of foreign currency exposures hedged by foreign exchange forward contracts	(20,892		)	(3,306		)
Total effect of non-designated derivative contracts	$	1,861		$	(3,865	)