Financial Instruments and Fair Value Measurements (Tables)
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6 Months Ended |
Jun. 30, 2017 |
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: | | | | | | | | | | | | | | | | | | June 30, 2017 | | Level One | | Level Two | | Level Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 23,782 |
| | $ | — |
| | $ | — |
| | $ | 23,782 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 3,799 |
| | — |
| | 3,799 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 1,638 |
| | — |
| | 1,638 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 1,602 |
| | — |
| | 1,602 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 387 |
| | — |
| | 387 |
| Deferred compensation plans | — |
| | 6,009 |
| | — |
| | 6,009 |
| | $ | 23,782 |
| | $ | 13,435 |
| | $ | — |
| | $ | 37,217 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 3,032 |
| | $ | — |
| | $ | 3,032 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 351 |
| | — |
| | 351 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 710 |
| | — |
| | 710 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 668 |
| | — |
| | 668 |
| Deferred compensation plans | — |
| | 6,009 |
| | — |
| | 6,009 |
| | $ | — |
| | $ | 10,770 |
| | $ | — |
| | $ | 10,770 |
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| | | | | | | | | | | | | | | | | | December 31, 2016 | | Level One | | Level Two | | Level Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 24,603 |
| | $ | — |
| | $ | — |
| | $ | 24,603 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 992 |
| | — |
| | 992 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 1,422 |
| | — |
| | 1,422 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 4,224 |
| | — |
| | 4,224 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 120 |
| | — |
| | 120 |
| Deferred compensation plans | — |
| | 4,586 |
| | — |
| | 4,586 |
| | $ | 24,603 |
| | $ | 11,344 |
| | $ | — |
| | $ | 35,947 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 11,280 |
| | $ | — |
| | $ | 11,280 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 256 |
| | — |
| | 256 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 469 |
| | — |
| | 469 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 1,004 |
| | — |
| | 1,004 |
| Deferred compensation plans | — |
| | 4,586 |
| | — |
| | 4,586 |
| | $ | — |
| | $ | 17,595 |
| | $ | — |
| | $ | 17,595 |
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There were no transfers in or out of Level One, Two or Three during the six months ended June 30, 2017.
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Schedule of Foreign Exchange Contracts, Notional Values |
As of June 30, 2017 and December 31, 2016, the Company had foreign currency contracts with the following notional values: | | | | | | | | | | June 30, 2017 | | December 31, 2016 | | (In thousands) | Foreign currency contracts sold - not designated as hedges | $ | 116,258 |
| | $ | 87,172 |
| Foreign currency contracts sold - designated as hedges | 188,994 |
| | 215,086 |
| Foreign currency contracts purchased - not designated as hedges | 12,950 |
| | 40,127 |
| Foreign currency contracts purchased - designated as hedges | 89,089 |
| | 84,604 |
| Total foreign currency derivatives | $ | 407,291 |
| | $ | 426,989 |
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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 | | Six Months Ended | | June 30, 2017 | | July 1, 2016 | | June 30, 2017 | | July 1, 2016 | | (In thousands) | Contracts Designated as Hedges: | | | | Foreign Currency Contracts - related to customer sales contracts: | | | | | | | | Unrealized gain | $ | 1,628 |
| | $ | 2,063 |
| | $ | 2,717 |
| | $ | 858 |
| Realized gain (loss) | 2,249 |
| | (4,741 | ) | | 1,627 |
| | (2,372 | ) | Foreign Currency Contracts - related to supplier purchase contracts: | | | | | | | | Unrealized (loss) gain | (194 | ) | | (894 | ) | | 639 |
| | (1,241 | ) | Realized (loss) gain | (435 | ) | | 2,678 |
| | (1,014 | ) | | 2,711 |
| Unrealized (loss) gain on net investment hedges(1) | (15,954 | ) | | 4,868 |
| | (19,429 | ) | | (5,705 | ) | Contracts Not Designated in a Hedge Relationship: | | | | | | | | Foreign Currency Contracts - related to customer sales contracts: | | | | | | | | Unrealized gain (loss) | 1,570 |
| | (1,581 | ) | | 260 |
| | 447 |
| Realized gain (loss) | 1,630 |
| | (78 | ) | | 1,590 |
| | (91 | ) | Foreign Currency Contracts - related to supplier purchases contracts: | | | | | | | | Unrealized (loss) gain | (286 | ) | | 520 |
| | 604 |
| | (516 | ) | Realized loss | (253 | ) | | (225 | ) | | (255 | ) | | (261 | ) |
(1) The unrealized (loss) gain on net investment hedges is attributable to the change in valuation of Euro denominated debt.
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