Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 29, 2013

Fair value of derivative instruments in Condensed Consolidated Balance Sheet

Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheet:



(In thousands)	Condensed Consolidated Balance Sheet Location	Fair Value as of			Fair Value as of			Fair Value as of
(In thousands)	Condensed Consolidated Balance Sheet Location	September 29, 2013			December 31, 2012			September 30, 2012
Derivatives designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(5,483	)	$	(32,260	)	$	(34,708	)
Total derivatives designated as hedging instruments		$	(5,483	)	$	(32,260	)	$	(34,708	)
Derivatives not designated as hedging instruments:
Interest rate swaps	Derivative Liability	$	(26,163	)	$	—		$	—
Total derivatives not designated as hedging instruments		$	(26,163	)	$	—		$	—
Net derivative liability		$	(31,646	)	$	(32,260	)	$	(34,708	)

Effects of derivative instruments on income (loss) and other comprehensive income (loss)

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the nine-month periods ended September 29, 2013 and September 30, 2012:



(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)							Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Nine months ended			Nine months ended				Nine months ended			Nine months ended				Nine months ended		Nine months ended
Derivatives designated as Cash Flow Hedging Relationships	9/29/13			9/30/12				9/29/13			9/30/12				9/29/13		9/30/12
Interest rate swaps	$	(3,217	)	$	(2,308	)	Interest Expense	$	(2,797	)	$	(9,004	)	Net effect of swaps	$	3,703	$	—



(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Nine months ended		Nine months ended
		9/29/13		9/30/12
Cross-currency swaps⁽¹⁾	Net effect of swaps	$	—	$	(4,999	)
Foreign currency swaps	Net effect of swaps	—		6,278
Interest rate swaps ⁽²⁾	Net effect of swaps	130		—
		$	130	$	1,279


(1)	The cross-currency swaps became ineffective and were de-designated in August 2009.


(2)	The May 2011 interest rate swaps were de-designated in March 2013. The Combination Swaps were de-designated in July 2013

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the three-month periods ended September 29, 2013 and September 30, 2012:



(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)					Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Three months ended			Three months ended			Three months ended		Three months ended				Three months ended		Three months ended
Derivatives designated as Cash Flow Hedging Relationships	9/29/13			9/30/12			9/29/13		9/30/12				9/29/13		9/30/12
Interest rate swaps	$	(5,483	)	$	438	Interest Expense	$	—	$	(2,990	)	Net effect of swaps	$	—	$	—



(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Three months ended		Three months ended
		9/29/13		9/30/12
Interest rate swaps ⁽¹⁾	Net effect of swaps	609		—
		$	609	$	—


(1)	The May 2011 interest rate swaps were de-designated in March 2013. The Combination Swaps were de-designated in July 2013.

Effects of Derivative Instruments on Income (Loss) and Other Comprehensive Income (Loss) for the twelve-month periods ended September 29, 2013 and September 30, 2012:



(In thousands)	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives (Effective Portion)						Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)							Amount and Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
Derivatives designated as Cash Flow Hedging Relationships	Twelve months ended			Twelve months ended				Twelve months ended			Twelve months ended				Twelve months ended		Twelve months ended
Derivatives designated as Cash Flow Hedging Relationships	9/29/13			9/30/12				9/29/13			9/30/12				9/29/13		9/30/12
Interest rate swaps	$	(769	)	$	(873	)	Interest Expense	$	(5,820	)	$	(12,027	)	Net effect of swaps	$	3,703	$	4,797



(In thousands)	Amount and Location of Gain (Loss) Recognized in Income on Derivative
Derivatives not designated as Cash Flow Hedging Relationships		Twelve months ended		Twelve months ended
		9/29/13		9/30/12
Cross-currency swaps ⁽¹⁾	Net effect of swaps	—		(4,483		)
Foreign currency swaps	Net effect of swaps	—		10,129
Interest rate swaps ⁽²⁾	Net effect of swaps	$	130	$	—
		$	130	$	5,646


(1)	The cross-currency swaps became ineffective and were de-designated in August 2009.


(2)	The May 2011 interest rate swaps were de-designated in March 2013. The Combination Swaps were de-designated in July 2013.

Forward Starting Interest Rate Swap [Member]

Derivative [Line Items]

Derivative instruments, notional amounts outstanding and interest rates

The following table presents our 2013 forwards which mature December 31, 2018, and the Combination Swaps and May 2011 swaps which mature December 15, 2015, along with their notional amounts and their fixed interest rates.



	Interest Rate Swaps
($'s in thousands)	Derivatives designated as hedging instruments				Derivatives not designated as hedging instruments
	Notional Amounts		LIBOR Rate		Notional Amounts		LIBOR Rate
	$	200,000	3.00	%	$	200,000	2.27	%
	100,000		3.00	%	150,000		2.43	%
	100,000		3.00	%	75,000		2.30	%
					70,000		2.54	%
					50,000		2.54	%
					50,000		2.54	%
					50,000		2.43	%
					50,000		2.29	%
					50,000		2.29	%
					30,000		2.54	%
					25,000		2.30	%
Total $'s / Average Rate	$	400,000	3.00	%	$	800,000	2.38	%

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details