XML 56 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 29, 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):
 
September 29, 2013
 
December 31, 2012
 
September 30, 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)
$
335,172

 
$
1,714

 
$
771

 
$
345,021

 
$
169

 
$
6,850

 
$
385,883

 
$
956

 
$
1,784

Commodity
contracts(c)
1,784

 
—

 
52

 
1,064

 
148

 
683

 
1,181

 
80

 
—

Interest rate swaps(c)
—

 
—

 
—

 
35,800

 
—

 
373

 
38,600

 
—

 
674

Total
$
336,956

 
$
1,714

 
$
823


$
381,885

 
$
317

 
$
7,906


$
425,664

 
$
1,036

 
$
2,458

 
September 29, 2013
 
December 31, 2012
 
September 30, 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
$
11,250

 
$
19

 
$
329

 
$
16,237

 
$
—

 
$
14

 
$
14,518

 
$
603

 
$
—

 
$
11,250


$
19

 
$
329

 
$
16,237

 
$
—

 
$
14

 
$
14,518

 
$
603

 
$
—


 
(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
 
Nine Months Ended
Cash Flow Hedges
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
Foreign currency contracts
$
(10,324
)
 
$
1,704

 
$
6,120

 
$
5,799

Commodity contracts
27

 
32

 
(46
)
 
(393
)
Interest rate swaps
—

 
(19
)
 
(2
)
 
(43
)
Total
$
(10,297
)
 
$
1,717

 
$
6,072

 
$
5,363


 
 
Amount of Gain/(Loss) Before Tax
Reclassified from AOCI into Income
 
 
 
Three months ended
 
Nine Months Ended
 
Expected to be Reclassified
Cash Flow Hedges
September 29,
2013
 
September 30,
2012
 
September 29,
2013
 
September 30,
2012
 
Over the Next Twelve Months
Foreign currency contracts(a)
$
47

 
$
7,742

 
$
61

 
$
19,846

 
$
329

Commodity contracts(a)
(21
)
 
(81
)
 
(8
)
 
(737
)
 
(52
)
Interest rate swaps(b)
—

 
(327
)
 
(345
)
 
(2,262
)
 
—

Total
$
26

 
$
7,334

 
$
(292
)
 
$
16,847

 
$
277

 
(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
 
Nine Months Ended
Derivatives
September 29, 2013
 
September 30, 2012
 
September 29,
2013
 
September 30,
2012
Commodity contracts
$
(135
)
 
$
603

 
$
(743
)
 
$
603

Total
$
(135
)
 
$
603

 
$
(743
)
 
$
603