Financial Instruments and Fair Value Measurements (Tables)
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9 Months Ended |
Sep. 30, 2016 |
Financial Instruments and Fair Value Measurements [Abstract] |
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Company's assets and liabilities measured at fair value for each fair value hierarchy level [Table Text Block] |
A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: | | | | | | | | | | | | | | | | | | September 30, 2016 | | Level One | | Level Two | | Level Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 19,604 |
| | $ | — |
| | $ | — |
| | $ | 19,604 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 1,322 |
| | — |
| | 1,322 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 496 |
| | — |
| | 496 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 4,031 |
| | — |
| | 4,031 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 50 |
| | — |
| | 50 |
| Deferred compensation plans | — |
| | 4,416 |
| | — |
| | 4,416 |
| | $ | 19,604 |
| | $ | 10,315 |
| | $ | — |
| | $ | 29,919 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 8,805 |
| | $ | — |
| | $ | 8,805 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 259 |
| | — |
| | 259 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 519 |
| | — |
| | 519 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 398 |
| | — |
| | 398 |
| Deferred compensation plans | — |
| | 4,416 |
| | — |
| | 4,416 |
| | $ | — |
| | $ | 14,397 |
| | $ | — |
| | $ | 14,397 |
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| | | | | | | | | | | | | | | | | | December 31, 2015 | | Level One | | Level Two | | Level Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 22,516 |
| | $ | — |
| | $ | — |
| | $ | 22,516 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 988 |
| | — |
| | 988 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 664 |
| | — |
| | 664 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 1,554 |
| | — |
| | 1,554 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 338 |
| | — |
| | 338 |
| Deferred compensation plans | — |
| | 4,000 |
| | — |
| | 4,000 |
| | $ | 22,516 |
| | $ | 7,544 |
| | $ | — |
| | $ | 30,060 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 6,368 |
| | $ | — |
| | $ | 6,368 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 969 |
| | — |
| | 969 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 322 |
| | — |
| | 322 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 128 |
| | — |
| | 128 |
| Deferred compensation plans | — |
| | 4,000 |
| | — |
| | 4,000 |
| | $ | — |
| | $ | 11,787 |
| | $ | — |
| | $ | 11,787 |
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There were no transfers in or out of Level One, Two or Three during the nine months ended September 30, 2016.
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Schedule of Foreign Exchange Contracts, Notional Values |
As of September 30, 2016 and December 31, 2015, the Company had foreign currency contracts with the following notional values: | | | | | | | | | | September 30, 2016 | | December 31, 2015 | | (In thousands) | Foreign currency contracts sold - not designated as hedges | $ | 73,676 |
| | $ | 119,653 |
| Foreign currency contracts sold - designated as hedges | 203,814 |
| | 206,366 |
| Foreign currency contracts purchased - not designated as hedges | 36,124 |
| | 41,480 |
| Foreign currency contracts purchased - designated as hedges | 70,400 |
| | 62,794 |
| Total foreign currency derivatives | $ | 384,014 |
| | $ | 430,293 |
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Schedule of Derivative Instruments, Gain (Loss) in Condensed Consolidated Financial Statements [Table Text Block] |
The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments: | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, 2016 | | September 25, 2015 | | September 30, 2016 | | September 25, 2015 | | (In thousands) | Contracts Designated as Hedges: | | | | Foreign Currency Contracts - related to customer sales contracts: | | | | | | | | Unrealized (loss) gain | $ | (362 | ) | | $ | (4,354 | ) | | $ | 496 |
| | $ | (3,846 | ) | Realized gain (loss) | 297 |
| | (2,378 | ) | | (2,075 | ) | | 1,124 |
| Foreign Currency Contracts - related to supplier purchase contracts: | | | | | | | | Unrealized gain (loss) | 403 |
| | (666 | ) | | (838 | ) | | (990 | ) | Realized (loss) gain | (207 | ) | | 2,072 |
| | 2,504 |
| | 122 |
| Unrealized gain (loss) on net investment hedges(1) | 9,187 |
| | (1,485 | ) | | 3,482 |
| | 8,727 |
| Contracts Not Designated in a Hedge Relationship: | | | | | | | | Foreign Currency Contracts - related to customer sales contracts: | | | | | | | | Unrealized gain | 94 |
| | 774 |
| | 541 |
| | 3,046 |
| Realized loss | (579 | ) | | (449 | ) | | (670 | ) | | (4,710 | ) | Foreign Currency Contracts - related to supplier purchases contracts: | | | | | | | | Unrealized (loss) gain | (42 | ) | | (342 | ) | | (558 | ) | | 45 |
| Realized loss | (360 | ) | | (548 | ) | | (621 | ) | | (134 | ) |
(1) The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt.
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