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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 28, 2014
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 28, 2014
 
December 31, 2013
 
September 29, 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)
$
367,077

 
$
24,908

 
$
—

 
$
299,550

 
$
1,672

 
$
3,842

 
$
335,172

 
$
1,714

 
$
771

Commodity
contracts(c)
1,599

 
—

 
100

 
1,286

 
76

 
—

 
1,784

 
—

 
52

Total
$
368,676

 
$
24,908

 
$
100


$
300,836

 
$
1,748

 
$
3,842


$
336,956

 
$
1,714

 
$
823

 
September 28, 2014
 
December 31, 2013
 
September 29, 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
$
7,711

 
$
—

 
$
341

 
$
9,855

 
$
184

 
$
83

 
$
11,250

 
$
19

 
$
329

 
$
7,711


$
—

 
$
341

 
$
9,855

 
$
184

 
$
83

 
$
11,250

 
$
19

 
$
329


 
(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
 
Nine months ended
Cash Flow Hedges
September 28,
2014
 
September 29,
2013
 
September 28,
2014
 
September 29,
2013
Foreign currency contracts
$
26,941

 
$
(10,324
)
 
$
29,434

 
$
6,120

Commodity contracts
(100
)
 
27

 
91

 
(46
)
Interest rate swaps
—

 
—

 
—

 
(2
)
Total
$
26,841

 
$
(10,297
)
 
$
29,525

 
$
6,072


 
 
Amount of Gain/(Loss) Reclassified from AOCL into Income
 
 
 
Three months ended
 
Nine months ended
 
Expected to be Reclassified
Cash Flow Hedges
September 28,
2014
 
September 29,
2013
 
September 28,
2014
 
September 29,
2013
 
Over the Next Twelve Months
Foreign currency contracts(a)
$
6,852

 
$
47

 
$
4,611

 
$
61

 
$
22,079

Commodity contracts(a)
(17
)
 
(21
)
 
266

 
(8
)
 
100

Interest rate swaps(b)
—

 
—

 
—

 
(345
)
 
—

Total
$
6,835

 
$
26

 
$
4,877

 
$
(292
)
 
$
22,179

 
(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
 
Nine months ended
Derivatives Not Designated As Hedges
September 28,
2014
 
September 29,
2013
 
September 28,
2014
 
September 29,
2013
Commodity contracts(a)
$
(426
)
 
$
(135
)
 
$
(570
)
 
$
(743
)
Total
$
(426
)
 
$
(135
)
 
$
(570
)
 
$
(743
)