Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jul. 01, 2012

Derivative Instrument Fair Value

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

	July 1, 2012						December 31, 2011						June 26, 2011
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)	$	244,221	$	8,879	$	1,027	$	306,450	$	16,443	$	1,852	$	272,637	$	—	$	9,691
Natural gas contracts(c)		1,066		—		33		3,915		—		265		2,915		—		86
Interest rate swaps—unsecured commercial paper(c)		41,600		—		982		102,100		—		3,020		117,500		—		5,156
Total	$	286,887	$	8,879	$	2,042	$	412,465	$	16,443	$	5,137	$	393,052	$	—	$	14,933
	July 1, 2012						December 31, 2011						June 26, 2011
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)
Disel fuel contracts	$	4,346	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
	$	4,346	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

(a) Included in other current assets

(b) Included in accrued liabilities

(c) Derivative designated as a cash flow hedge

Gain (Loss) On Derivative Cash Flow Hedges Recognized In OCI

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
	Three months ended						Six months ended
Cash Flow Hedges	July 1, 2012			June 26, 2011			July 1, 2012			June 26, 2011
Foreign currency contracts	$	10,309		$	(6,760	)	$	4,095		$	(16,921	)
Natural gas contracts		(109	)		(227	)		(424	)		(264	)
Interest rate swaps—unsecured commercial paper		(9	)		(397	)		(24	)		(405	)
Total	$	10,191		$	(7,384	)	$	3,647		$	(17,590	)

Gain (Loss) On Derivative Cash Flow Hedges Reclassified From AOCI Into Income

	Amount of Gain/(Loss) Reclassified from AOCI into Income
	Three months ended						Six months ended						Expected to be Reclassified
Cash Flow Hedges	July 1, 2012			June 26, 2011			July 1, 2012			June 26, 2011			Over the Next Twelve Months
Foreign currency contracts(a)	$	9,683		$	(14,781	)	$	12,104		$	(20,788	)	$	(5,162	)
Natural gas contracts(a)		(337	)		(166	)		(656	)		(424	)		33
Interest rate swaps—unsecured commercial paper(b)		(968	)		(1,336	)		(1,935	)		(2,686	)		(986	)
Total	$	8,378		$	(16,283	)	$	9,513		$	(23,898	)	$	(6,115	)

(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.