Financial Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Fair Values of Derivative Instruments

Fair Value Measurements

The following table summarizes the fair values of derivative instruments as of December 31 for the year indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded:

	December 31				December 31
In thousands		2019		2018		2019		2018
	Prepaid Expenses and Other				Other Current
Balance sheet caption	Current Assets				Liabilities
Designated as hedging:
Forward foreign currency exchange contracts	$	4,314	$	4,381	$	34	$	1,548
Not designated as hedging:
Forward foreign currency exchange contracts	$	566	$	103	$	205	$	122

Income or Loss from Derivative Instruments Recognized in Results of Operations

The following table summarizes the amount of income or loss from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying consolidated statements of income (loss) where the results are recorded:

	Year ended December 31
In thousands	2019		2018			2017
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	6,468	$	(5,020	)	$	532
Ineffective portion – other – net		—		138			182
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net	$	300	$	(1,419	)	$	882

Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income is as follows:

In thousands	2019			2018
Balance at January 1,	$	3,004		$	(5,640	)
Deferred (losses) gains on cash flow hedges		9,323			3,624
Reclassified to earnings		(6,468	)		5,020
Balance at December 31,	$	5,859		$	3,004

Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

	December 31
In thousands		2019		2018
Derivative
Sell/Buy - sell notional
Philippine Peso / British Pound		—		13,140
Euro / British Pound		17,702		15,250
Philippine Peso / Euro		—	16,446
U.S. Dollar / Euro		5,347	88
U.S. Dollar / Canadian Dollar		1,523		—
Sell/Buy - buy notional
Euro / Philippine Peso		1,039,432		1,069,006
British Pound / Philippine Peso		1,077,871		980,137
Euro / U.S. Dollar		82,317		76,417
U.S. Dollar / Canadian Dollar		34,094		35,154
Canadian Dollar / U.S. Dollar		1,523		—
British Pound / Euro		—	216

Not Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

	December 31
In thousands		2019	2018
Derivative
Sell/Buy -  sell notional
U.S. Dollar / British Pound		25,500	25,500
British Pound / Euro		3,000	2,000
Sell/Buy - buy notional
Euro / U.S. Dollar		8,000	11,000
British Pound / Euro		7,000	8,000