Derivative Financial Instruments (Tables)
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9 Months Ended |
Sep. 28, 2014
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Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Schedule Of Fair Values Of The Company's Derivative Instruments And The Line Items On The Consolidated Balance Sheets |
The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheet to which they were recorded as of September 28, 2014 and December 31, 2013 are summarized as follows (in thousands): | | | | | | | | | | | | | | Derivative Assets | | Balance Sheet Location | | Fair Value at September 28, 2014 | | Balance Sheet Location | | Fair Value at December 31, 2013 | Derivative assets not designated as hedging instruments | | Prepaid expenses and other current assets | | $ | 2,889 |
| | Prepaid expenses and other current assets | | $ | 842 |
| Derivative assets designated as hedging instruments | | Prepaid expenses and other current assets | | 105 |
| | Prepaid expenses and other current assets | | 63 |
| Total | | | | $ | 2,994 |
| | | | $ | 905 |
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| | | | | | | | | | | | | | Derivative Liabilities | | Balance Sheet Location | | Fair Value at September 28, 2014 | | Balance Sheet Location | | Fair Value at December 31, 2013 | Derivative liabilities not designated as hedging instruments | | Other accrued liabilities | | $ | 520 |
| | Other accrued liabilities | | $ | 368 |
| Derivative liabilities designated as hedging instruments | | Other accrued liabilities | | 29 |
| | Other accrued liabilities | | 13 |
| Total | | | | $ | 549 |
| | | | $ | 381 |
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Schedule of Offsetting of Derivative Assets |
The following tables set forth the offsetting of derivative assets as of September 28, 2014 and December 31, 2013 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | As of September 28, 2014 | | | | | | | | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Assets | | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | | Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | Barclays | | $ | 1,484 |
| | $ | — |
| | $ | 1,484 |
| | $ | (156 | ) | | $ | — |
| | $ | 1,328 |
| J.P. Morgan Chase | | 318 |
| | — |
| | 318 |
| | — |
| | — |
| | 318 |
| Wells Fargo | | 1,192 |
| | — |
| | 1,192 |
| | (393 | ) | | — |
| | 799 |
| Total | | $ | 2,994 |
| | $ | — |
| | $ | 2,994 |
| | $ | (549 | ) | | $ | — |
| | $ | 2,445 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2013 | | | | | | | | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Assets | | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | | Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | Barclays | | $ | 905 |
| | $ | — |
| | $ | 905 |
| | $ | (287 | ) | | $ | — |
| | $ | 618 |
| Wells Fargo | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total | | $ | 905 |
| | $ | — |
| | $ | 905 |
| | $ | (287 | ) | | $ | — |
| | $ | 618 |
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Schedule of Offsetting of Derivative Liabilities |
The following tables set forth the offsetting of derivative liabilities as of September 28, 2014 and December 31, 2013 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | As of September 28, 2014 | | | | | | | | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Liabilities | | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | | Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | Barclays | | $ | 156 |
| | $ | — |
| | $ | 156 |
| | $ | (156 | ) | | $ | — |
| | $ | — |
| Wells Fargo | | 393 |
| | — |
| | 393 |
| | (393 | ) | | — |
| | — |
| Total | | $ | 549 |
| | $ | — |
| | $ | 549 |
| | $ | (549 | ) | | $ | — |
| | $ | — |
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| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2013 | | | | | | | | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Liabilities | | Gross Amounts Offset in the Condensed Consolidated Balance Sheets | | Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | Barclays | | $ | 287 |
| | $ | — |
| | $ | 287 |
| | $ | (287 | ) | | $ | — |
| | $ | — |
| Wells Fargo | | 94 |
| | — |
| | 94 |
| | — |
| | — |
| | 94 |
| Total | | $ | 381 |
| | $ | — |
| | $ | 381 |
| | $ | (287 | ) | | $ | — |
| | $ | 94 |
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Schedule Of Company's Derivative Instruments On Other Comprehensive Income And The Consolidated Statement Of Operations |
The effects of the Company’s derivative instruments on OCI and the unaudited condensed consolidated statement of operations for the three and nine months ended September 28, 2014 and September 29, 2013 are summarized as follows (in thousands):
| | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Three Months Ended September 28, 2014 | | Gain (Loss) Recognized in OCI - Effective Portion (a) | | Location of Gain (Loss) Reclassified from OCI into Income - Effective Portion | | Gain (Loss) Reclassified from OCI into Income - Effective Portion (a) | | Location of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | | Amount of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | 401 |
| | Net revenue | | $ | 320 |
| | Other income, net | | $ | (41 | ) | Foreign currency forward contracts | | — |
| | Cost of revenue | | — |
| | Other income, net | | — |
| Foreign currency forward contracts | | — |
| | Operating expenses | | (58 | ) | | Other income, net | | — |
| Total | | $ | 401 |
| | | | $ | 262 |
| | | | $ | (41 | ) |
| | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Nine Months Ended September 28, 2014 | | Gain (Loss) Recognized in OCI - Effective Portion (a) | | Location of Gain (Loss) Reclassified from OCI into Income - Effective Portion | | Gain (Loss) Reclassified from OCI into Income - Effective Portion (a) | | Location of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | | Amount of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | (170 | ) | | Net revenue | | $ | (221 | ) | | Other income, net | | $ | (107 | ) | Foreign currency forward contracts | | — |
| | Cost of revenue | | 8 |
| | Other income, net | | — |
| Foreign currency forward contracts | | — |
| | Operating expenses | | (23 | ) | | Other income, net | | — |
| Total | | $ | (170 | ) | | | | $ | (236 | ) | | | | $ | (107 | ) |
| | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Three Months Ended September 29, 2013 | | Gain (Loss) Recognized in OCI - Effective Portion (a) | | Location of Gain (Loss) Reclassified from OCI into Income - Effective Portion | | Gain (Loss) Reclassified from OCI into Income - Effective Portion (a) | | Location of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | | Amount of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | (173 | ) | | Net revenue | | $ | 2 |
| | Other income, net | | $ | (35 | ) | Foreign currency forward contracts | | — |
| | Cost of revenue | | (2 | ) | | Other income, net | | — |
| Foreign currency forward contracts | | — |
| | Operating expenses | | 42 |
| | Other income, net | | — |
| Total | | $ | (173 | ) | | | | $ | 42 |
| | | | $ | (35 | ) |
| | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Nine Months Ended September 29, 2013 | | Gain (Loss) Recognized in OCI - Effective Portion (a) | | Location of Gain (Loss) Reclassified from OCI into Income - Effective Portion | | Gain (Loss) Reclassified from OCI into Income - Effective Portion (a) | | Location of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | | Amount of Gain (Loss) Recognized in Income and Excluded from Effectiveness Testing | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | 319 |
| | Net revenue | | $ | 522 |
| | Other income, net | | $ | (83 | ) | Foreign currency forward contracts | | — |
| | Cost of revenue | | (5 | ) | | Other income, net | | — |
| Foreign currency forward contracts | | — |
| | Operating expenses | | (52 | ) | | Other income, net | | — |
| Total | | $ | 319 |
| | | | $ | 465 |
| | | | $ | (83 | ) |
| | (a) | Refer to Note 10, Stockholders' Equity, which summarizes the cumulative other comprehensive income activity related to derivatives. |
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Schedule Of Derivatives Not Designated As Hedging Instruments |
The effects of the Company’s non-designated hedged included in other income, net in the unaudited condensed consolidated statements of operations for the three and nine months ended September 28, 2014 and September 29, 2013 are as follows (in thousands): | | | | | | | | | | | | Derivatives Not Designated as Hedging Instruments | | Location of Gains (Losses) Recognized in Income on Derivative | | Amount of Gains (Losses) Recognized in Income | | Three Months Ended September 28, 2014 | | Nine Months Ended September 28, 2014 | Foreign currency forward contracts | | Other income, net | | $ | 3,567 |
| | $ | 1,629 |
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| | | | | | | | | | | | Derivatives Not Designated as Hedging Instruments | | Location of Gains (Losses) Recognized in Income on Derivative | | Amount of Gains (Losses) Recognized in Income | | Three Months Ended September 29,2013 | | Nine Months Ended September 29, 2013 | Foreign currency forward contracts | | Other income, net | | $ | (1,421 | ) | | $ | 464 |
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