Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 29, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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



	March 29, 2015						December 31, 2014						March 30, 2014
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)	$	416,844	$	49,290	$	12	$	339,077	$	32,244	$	—	$	269,342	$	5	$	3,589
Commodity contracts^(c)	1,432		—		220		1,728		—		414		1,167		94		—
Total	$	418,276	$	49,290	$	232	$	340,805	$	32,244	$	414	$	270,509	$	99	$	3,589
	March 29, 2015						December 31, 2014						March 30, 2014
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	$	11,358	$	—	$	1,654	$	11,804	$	—	$	1,613	$	9,348	$	6	$	92
	$	11,358	$	—	$	1,654	$	11,804	$	—	$	1,613	$	9,348	$	6	$	92


(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 29, 2015			March 30, 2014
Foreign currency contracts	$	32,668		$	(1,438	)
Commodity contracts	(120		)	215
Total	$	32,548		$	(1,223	)



	Amount of Gain/(Loss) Reclassified from AOCL into Income
	Three months ended						Expected to be Reclassified
Cash Flow Hedges	March 29, 2015			March 30, 2014			Over the Next Twelve Months
Foreign currency contracts^(a)	$	15,276		$	(1,058	)	$	48,050
Commodity contracts^(a)	(315		)	196			(220		)
Total	$	14,961		$	(862	)	$	47,830


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

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 29, 2015			March 30, 2014
Commodity contracts^(a)	$	(540	)	$	(328	)
Total	$	(540	)	$	(328	)


(a)	Gain/(loss) recognized in income is included in cost of goods sold.