Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 30, 2014

Derivative Financial Instruments (Thousands of Dollars) [Abstract]

Summary of Cash Flow Hedging Instruments

At March 30, 2014, March 31, 2013 and December 29, 2013, the notional amounts and fair values of the Company's foreign currency forward contracts designated as cash flow hedging instruments were as follows:

	March 30, 2014					March 31, 2013					December 29, 2013
Hedged transaction	Notional Amount		Fair Value			Notional Amount		Fair Value			Notional Amount		Fair Value
Inventory purchases	$	609,689		(6,966	)		394,818		5,858			577,138		(7,493	)
Intercompany royalty transactions		2,812		(2,403	)		132,677		2,053			4,948		(2,774	)
Sales		161,760		(1,155	)		83,942		3,465			171,393		(1,965	)
Other		51,243		(637	)		23,746		(22	)		46,563		302
Total	$	825,504		(11,161	)		635,183		11,354			800,042		(11,930	)

Derivatives Fair Value by Balance Sheet Location

The Company has a master agreement with each of its counterparties that allows for the netting of outstanding forward contracts. The fair values of the Company's foreign currency forward contracts designated as cash flow hedges are recorded in the consolidated balance sheets at March 30, 2014, March 31, 2013 and December 29, 2013 as follows:

	March 30, 2014			March 31, 2013			December 29, 2013
Prepaid expenses and other current assets
Unrealized gains	$	999			10,324			1,088
Unrealized losses		(647	)		(2,483	)		(702	)
Net unrealized gain	$	352			7,841			386
Other assets
Unrealized gains	$	-			4,023			-
Accrued liabilities
Unrealized gains	$	4,597			1,095			3,425
Unrealized losses		(13,946	)		(1,605	)		(13,671	)
Net unrealized loss	$	(9,349	)		(510	)		(10,246	)
Other liabilities
Unrealized gains	$	256			-			-
Unrealized losses		(2,420	)		-			(2,070	)
Net unrealized loss	$	(2,164	)		-			(2,070	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations

Net gains (losses) on cash flow hedging activities have been reclassified from other comprehensive earnings (loss) to net earnings (loss) for the quarters ended March 30, 2014 and March 31, 2013 as follows:

	Quarter Ended
	March 30, 2014			March 31, 2013
Statements of Operations Classification
Cost of sales	$	(1,019	)		341
Royalties		(350	)		(141	)
Net revenues		(159	)		475
Net realized (losses) gains	$	(1,528	)		675

Fair values of undesignated derivative financial instruments

At March 30, 2014, March 31, 2013 and December 29, 2013, the fair values of the Company's undesignated derivative financial instruments were recorded in the consolidated balance sheets as follows:

	March 30, 2014			March 31, 2013			December 29, 2013
Prepaid expenses and other current assets
Unrealized gains	$	1,218			-			-
Unrealized losses		(421	)		-			-
Net unrealized gain		797			-			-
Other assets
Unrealized gains		163			-			1,069
Unrealized losses		(1	)		-			-
Net unrealized gain		162			-			1,069
Accrued liabilities
Unrealized gains		-			140			478
Unrealized losses		-			(1,123	)		(492	)
Net unrealized loss		-			(983	)		(14	)
Other liabilities
Unrealized loss		-			(1,738	)		-
Total unrealized gain (loss), net	$	959			(2,721	)		1,055