Derivative Financial Instruments (Tables)
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9 Months Ended |
Sep. 29, 2019 |
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 sheets to which they were recorded as of September 29, 2019 and December 31, 2018 are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | As of | | | | As of | | | Balance Sheet Location | | September 29, 2019 | | December 31, 2018 | | Balance Sheet Location | | September 29, 2019 | | December 31, 2018 | | | | | (In thousands) | | | | (In thousands) | Derivatives not designated as hedging instruments | | Prepaid expenses and other current assets | | $ | 1,050 |
| | $ | 784 |
| | Other accrued liabilities | | $ | 150 |
| | $ | 331 |
| Derivatives designated as hedging instruments | | Prepaid expenses and other current assets | | 47 |
| | 2 |
| | Other accrued liabilities | | 58 |
| | 37 |
| Total | | | | $ | 1,097 |
| | $ | 786 |
| | | | $ | 208 |
| | $ | 368 |
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Schedule of Offsetting of Derivative Assets |
The following tables set forth the offsetting of derivative assets as of September 29, 2019 and December 31, 2018: | | | | | | | | | | | | | | | | | | | | | | | | | | As of September 29, 2019 | | | | | | | | Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Assets | | Gross Amounts Offset on the Condensed Consolidated Balance Sheets | | Net Amounts Of Assets Presented on the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | | | (In thousands) | J.P. Morgan Chase | | $ | 128 |
| | $ | — |
| | $ | 128 |
| | $ | (31 | ) | | $ | — |
| | $ | 97 |
| Bank of America | | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Wells Fargo | | 969 |
| | — |
| | 969 |
| | (175 | ) | | — |
| | 794 |
| Total | | $ | 1,097 |
| | $ | — |
| | $ | 1,097 |
| | $ | (208 | ) | | $ | — |
| | $ | 889 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2018 | | | | | | | | Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Assets | | Gross Amounts Offset on the Condensed Consolidated Balance Sheets | | Net Amounts Of Assets Presented on the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | | | (In thousands) | Bank of America | | $ | 323 |
| | $ | — |
| | $ | 323 |
| | $ | (64 | ) | | $ | — |
| | $ | 259 |
| Wells Fargo | | 463 |
| | — |
| | 463 |
| | (298 | ) | | — |
| | 165 |
| Total | | $ | 786 |
| | $ | — |
| | $ | 786 |
| | $ | (362 | ) | | $ | — |
| | $ | 424 |
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Schedule of Offsetting of Derivative Liabilities |
The following tables set forth the offsetting of derivative liabilities as of September 29, 2019 and December 31, 2018: | | | | | | | | | | | | | | | | | | | | | | | | | | As of September 29, 2019 | | | | | | | | Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Liabilities | | Gross Amounts Offset on the Condensed Consolidated Balance Sheets | | Net Amounts Of Liabilities Presented on the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount |
| | (In thousands) | J.P. Morgan Chase | | $ | 31 |
| | $ | — |
| | $ | 31 |
| | $ | (31 | ) | | $ | — |
| | $ | — |
| Bank of America | | 2 |
| | — |
| | 2 |
| | (2 | ) | | — |
| | — |
| Wells Fargo | | 175 |
| | — |
| | 175 |
| | (175 | ) | | — |
| | — |
| Total | | $ | 208 |
| | $ | — |
| | $ | 208 |
| | $ | (208 | ) | | $ | — |
| | $ | — |
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| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2018 | | | | | | | | Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets | | | | Gross Amounts of Recognized Liabilities | | Gross Amounts Offset on the Condensed Consolidated Balance Sheets | | Net Amounts Of Liabilities Presented on the Condensed Consolidated Balance Sheets | | Financial Instruments | | Cash Collateral Pledged | | Net Amount | | | (In thousands) | J.P. Morgan Chase | | $ | 6 |
| | $ | — |
| | $ | 6 |
| | $ | — |
| | $ | — |
| | $ | 6 |
| Bank of America | | 64 |
| | — |
| | 64 |
| | (64 | ) | | — |
| | — |
| Wells Fargo | | 298 |
| | — |
| | 298 |
| | (298 | ) | | — |
| | — |
| Total | | $ | 368 |
| | $ | — |
| | $ | 368 |
| | $ | (362 | ) | | $ | — |
| | $ | 6 |
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Schedule of Effects and Locations of Gains or Losses Recognized in Income |
The effects of the Company's cash flow hedges in the unaudited condensed statement of operations for the three and nine months ended September 29, 2019 and September 30, 2018 are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | Location and Amount of Gains (Losses) Recognized in Income on Cash Flow Hedges | | | Three Months Ended September 29, 2019 | | Net revenue | | Cost of revenue | | Research and development | | Sales and marketing | | General and administrative | | | (In thousands) | Statement of operations | | $ | 265,858 |
| | $ | 188,666 |
| | $ | 19,537 |
| | $ | 33,491 |
| | $ | 11,887 |
| Gains (losses) on cash flow hedge | | $ | 548 |
| | $ | (2 | ) | | $ | (2 | ) | | $ | (42 | ) | | $ | (7 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | Location and Amount of Gains (Losses) Recognized in Income on Cash Flow Hedges | | | Three Months Ended September 30, 2018 | | Net revenue | | Cost of revenue | | Research and development | | Sales and marketing | | General and administrative | | | (In thousands) | Statement of operations | | $ | 269,411 |
| | $ | 174,966 |
| | $ | 20,136 |
| | $ | 37,892 |
| | $ | 16,184 |
| Gains (losses) on cash flow hedge | | $ | 750 |
| | $ | (6 | ) | | $ | — |
| | $ | (115 | ) | | $ | (32 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | Location and Amount of Gains (Losses) Recognized in Income on Cash Flow Hedges | | | Nine Months Ended September 29, 2019 | | Net revenue | | Cost of revenue | | Research and development | | Sales and marketing | | General and administrative | | | (In thousands) | Statement of operations | | $ | 745,792 |
| | $ | 521,147 |
| | $ | 57,183 |
| | $ | 103,887 |
| | $ | 35,467 |
| Gains (losses) on cash flow hedge | | $ | 1,634 |
| | $ | (10 | ) | | $ | (47 | ) | | $ | (209 | ) | | $ | (30 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | Location and Amount of Gains (Losses) Recognized in Income on Cash Flow Hedges | | | Nine Months Ended September 30, 2018 | | Net revenue | | Cost of revenue | | Research and development | | Sales and marketing | | General and administrative | | | (In thousands) | Statement of operations | | $ | 769,888 |
| | $ | 518,844 |
| | $ | 63,273 |
| | $ | 114,318 |
| | $ | 50,403 |
| Gains (losses) on cash flow hedge | | $ | 235 |
| | $ | (7 | ) | | $ | 86 |
| | $ | (42 | ) | | $ | (41 | ) |
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Schedule of Company's Derivative Instruments on Other Comprehensive Income and the Consolidated Statement of Operations |
The pre-tax effects of the Company’s derivative instruments in OCI and the unaudited condensed consolidated statement of operations for the three and nine months ended September 29, 2019 and September 30, 2018 are summarized as follows: | | | | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Gains (Losses) Recognized in OCI - Effective Portion | | Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion | | Gains (Losses) Reclassified from OCI into Income - Effective Portion(1) | | Three Months Ended | | | Three Months Ended | | September 29, 2019 | | September 30, 2018 | | | September 29, 2019 | | September 30, 2018 | | | (In thousands) | | | | (In thousands) | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | 458 |
| | $ | 625 |
| | Net revenue | | $ | 548 |
| | $ | 750 |
| Foreign currency forward contracts | | — |
| | — |
| | Cost of revenue | | (2 | ) | | (6 | ) | Foreign currency forward contracts | | — |
| | — |
| | Research and development | | (2 | ) | | — |
| Foreign currency forward contracts | | — |
| | — |
| | Sales and marketing | | (42 | ) | | (115 | ) | Foreign currency forward contracts | | — |
| | — |
| | General and administrative | | (7 | ) | | (32 | ) | Total | | $ | 458 |
| | $ | 625 |
| | | | $ | 495 |
| | $ | 597 |
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| | | | | | | | | | | | | | | | | | | | Derivatives Designated as Hedging Instruments | | Gains (Losses) Recognized in OCI - Effective Portion | | Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion | | Gains (Losses) Reclassified from OCI into Income - Effective Portion(1) | | Nine Months Ended | | | Nine Months Ended | | September 29, 2019 | | September 30, 2018 | | | September 29, 2019 | | September 30, 2018 | | | (In thousands) | | | | (In thousands) | Cash flow hedges: | | | | | | | | | | | Foreign currency forward contracts | | $ | 1,322 |
| | $ | 1,075 |
| | Net revenue | | $ | 1,634 |
| | $ | 235 |
| Foreign currency forward contracts | | — |
| | — |
| | Cost of revenue | | (10 | ) | | (7 | ) | Foreign currency forward contracts | | — |
| | — |
| | Research and development | | (47 | ) | | 86 |
| Foreign currency forward contracts | | — |
| | — |
| | Sales and marketing | | (209 | ) | | (42 | ) | Foreign currency forward contracts | | — |
| | — |
| | General and administrative | | (30 | ) | | (41 | ) | Total | | $ | 1,322 |
| | $ | 1,075 |
| | | | $ | 1,338 |
| | $ | 231 |
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Schedule of Derivatives not Designated as Hedging Instruments |
The effects of the Company’s non-designated hedge included in Other income (expense), net in the unaudited condensed consolidated statements of operations for the nine months ended September 29, 2019 and September 30, 2018 are as follows:
| | | | | | | | | | | | | | | | | | | | Derivatives Not Designated as Hedging Instruments | | Location of Gains (Losses) Recognized in Income on Derivative | | Three Months Ended | | Nine Months Ended | | September 29, 2019 | | September 30, 2018 | | September 29, 2019 | | September 30, 2018 | | | | | (In thousands) | Foreign currency forward contracts | | Other income (expense), net | | $ | 1,540 |
| | $ | 991 |
| | $ | 2,446 |
| | $ | 2,930 |
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