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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instrument Fair Value
The following table summarizes the fair value of the Company’s derivative financial instruments (in thousands):
 
June 30, 2013
 
December 31, 2012
 
July 1, 2012
Derivatives Designated As Hedging
Instruments Under ASC Topic 815
Notional
Value
 
Asset
Fair  Value
(a)
 
Liability
Fair  Value
(b)
 
Notional
Value
 
Asset Fair
Value
(a)
 
Liability
Fair  Value
(b)
 
Notional
Value
 
Asset
Fair  Value
(a)
 
Liability
Fair  Value
(b)
Foreign currency contracts(c)
$
333,407

 
$
11,214

 
$
29

 
$
345,021

 
$
169

 
$
6,850

 
$
244,221

 
$
8,879

 
$
1,027

Commodity
contracts(c)
1,226

 
—

 
99

 
1,064

 
148

 
683

 
1,066

 
—

 
33

Interest rate swaps(c)
—

 
—

 
—

 
35,800

 
—

 
373

 
41,600

 
—

 
982

Total
$
334,633

 
$
11,214

 
$
128


$
381,885

 
$
317

 
$
7,906


$
286,887

 
$
8,879

 
$
2,042

 
June 30, 2013
 
December 31, 2012
 
July 1, 2012
Derivatives Not Designated As Hedging
Instruments Under ASC Topic 815
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
Commodity contracts
$
11,958

 
$
—

 
$
442

 
$
16,237

 
$
—

 
$
14

 
$
4,346

 
$
—

 
$
—

 
$
11,958


$
—

 
$
442

 
$
16,237

 
$
—

 
$
14

 
$
4,346

 
$
—

 
$
—


 
(a)
Included in other current assets
(b)
Included in accrued liabilities
(c)
Derivative designated as a cash flow hedge
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables summarize the amount of gains and losses related to derivative financial instruments designated as cash flow hedges (in thousands):
 
Amount of Gain/(Loss) Before Tax
Recognized in OCI
 
Three months ended
 
Six Months Ended
Cash Flow Hedges
June 30, 2013
 
July 1, 2012
 
June 30, 2013
 
July 1, 2012
Foreign currency contracts
$
723

 
$
10,309

 
$
16,444

 
$
4,095

Commodity contracts
(231
)
 
(109
)
 
(72
)
 
(424
)
Interest rate swaps
—

 
(9
)
 
(2
)
 
(24
)
Total
$
492

 
$
10,191

 
$
16,370

 
$
3,647


 
 
Amount of Gain/(Loss) Before Tax
Reclassified from AOCI into Income
 
 
 
Three months ended
 
Six Months Ended
 
Expected to be Reclassified
Cash Flow Hedges
June 30, 2013
 
July 1, 2012
 
June 30, 2013
 
July 1, 2012
 
Over the Next Twelve Months
Foreign currency contracts(a)
$
753

 
$
9,683

 
$
13

 
$
12,104

 
$
10,700

Commodity contracts(a)
(34
)
 
(337
)
 
13

 
(656
)
 
(99
)
Interest rate swaps(b)
(82
)
 
(968
)
 
(345
)
 
(1,935
)
 
—

Total
$
637

 
$
8,378

 
$
(319
)
 
$
9,513

 
$
10,601

 
(a)
Gain/(loss) reclassified from accumulated other comprehensive income (AOCI) to income is included in cost of goods sold.
(b)
Gain/(loss) reclassified from AOCI to income is included in financial services interest expense.
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following tables summarize the amount of gains and losses related to derivative financial instruments not designated as hedging instruments (in thousands):
 
Amount of Gain/(Loss) Before Tax
Recognized in Income on Derivative
 
Three months ended
 
Six Months Ended
Derivatives
June 30, 2013
 
July 1, 2012
 
June 30, 2013
 
July 1, 2012
Commodity contracts
$
21

 
$
—

 
$
(609
)
 
$
—

Total
$
21

 
$
—

 
$
(609
)
 
$
—