Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes the fair value of the Company’s derivative financial instruments (in thousands):



	March 30, 2014						December 31, 2013						March 31, 2013
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)	$	269,342	$	5	$	3,589	$	299,550	$	1,672	$	3,842	$	449,078	$	11,528	$	944
Commodity contracts^(c)	1,167		94		—		1,286		76		—		969		97		—
Interest rate swaps^(c)	—		—		—		—		—		—		33,200		—		97
Total	$	270,509	$	99	$	3,589	$	300,836	$	1,748	$	3,842	$	483,247	$	11,625	$	1,041
	March 30, 2014						December 31, 2013						March 31, 2013
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	$	9,348	$	6	$	92	$	9,855	$	184	$	83	$	15,390	$	112	$	1,124
	$	9,348	$	6	$	92	$	9,855	$	184	$	83	$	15,390	$	112	$	1,124


(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) Recognized in OCI, before tax
	Three Months Ended
Cash Flow Hedges	March 30, 2014			March 31, 2013
Foreign currency contracts	$	(1,438	)	$	15,720
Commodity contracts	215			159
Interest rate swaps	—			(2		)
Total	$	(1,223	)	$	15,877



	Amount of Gain/(Loss) Reclassified from AOCL into Income
	Three Months Ended						Expected to be Reclassified
Cash Flow Hedges	March 30, 2014			March 31, 2013			Over the Next Twelve Months
Foreign currency contracts^(a)	$	(1,058	)	$	(740	)	$	(3,124	)
Commodity contracts^(a)	196			47			94
Interest rate swaps^(b)	—			(263		)	—
Total	$	(862	)	$	(956	)	$	(3,030	)


(a)	Gain/(loss) reclassified from accumulated other comprehensive loss (AOCL) to income is included in cost of goods sold.


(b)	Gain/(loss) reclassified from AOCL 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) Recognized in Income on Derivative
	Three Months Ended
Derivatives Not Designated As Hedges	March 30, 2014			March 31, 2013
Commodity contracts^(a)	$	(328	)	$	(630	)
Total	$	(328	)	$	(630	)