Derivative Instruments (Tables)

3 Months Ended

Apr. 02, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The Company had the following outstanding forward contracts (in thousands):



	April 2, 2017			December 31, 2016
Currency	Notional Value	USD Equivalent		Notional Value	USD Equivalent
Derivatives Designated as Hedging Instruments:
Japanese Yen	187,500	$	1,695	342,500	$	2,960
Hungarian Forint	—	—		39,000	130
Singapore Dollar	—	—		150	97
Derivatives Not Designated as Hedging Instruments:
Japanese Yen	712,500	$	6,366	650,000	$	5,554
British Pound	1,540	1,920		1,350	1,658
Korean Won	1,900,000	1,702		1,750,000	1,450
Hungarian Forint	445,000	1,541		425,000	1,448
Singapore Dollar	1,760	1,258		1,350	929
Taiwanese Dollar	26,150	863		26,000	802

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):



	Asset Derivatives					Liability Derivatives
	Balance	Fair Value				Balance	Fair Value
	Sheet Location	April 2, 2017		December 31, 2016		Sheet Location	April 2, 2017		December 31, 2016
Derivatives Designated as Hedging Instruments:
Cash flow hedge forward contracts	Prepaid expenses and other current assets	$	25	$	43	Accrued expenses	$	13	$	—
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contracts	Prepaid expenses and other current assets	$	7	$	1	Accrued expenses	$	41	$	11

Offsetting Assets

The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands):



Asset Derivatives						Liability Derivatives
	April 2, 2017		December 31, 2016				April 2, 2017			December 31, 2016
Gross amounts of recognized assets	$	32	$	117		Gross amounts of recognized liabilities	$	78		$	11
Gross amounts offset	—		(73		)	Gross amounts offset	(24		)	—
Net amount of assets presented	$	32	$	44		Net amount of liabilities presented	$	54		$	11

Derivative Instruments, Gain (Loss)

Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands):



	Location in Financial Statements	Three-months Ended
	Location in Financial Statements	April 2, 2017			April 3, 2016
Derivatives Designated as Hedging Instruments:
Gains (losses) recorded in shareholders' equity (effective portion)	Accumulated other comprehensive income (loss), net of tax	$	10		$	(375	)
Gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations (effective portion)	Revenue	$	(55	)	$	(3	)
	Research, development, and engineering expenses	3			2
	Selling, general, and administrative expenses	8			5
	Total gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations	$	(44	)	$	4
Gains (losses) recognized in current operations (ineffective portion and discontinued derivatives)	Foreign currency gain (loss)	$	—		$	—

Gains (losses) recognized in current operations	Foreign currency gain (loss)	$	(81	)	$	(360	)

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table provides the changes in accumulated other comprehensive income (loss), net of tax, related to derivative instruments (in thousands):



Balance as of December 31, 2016	$	37
Net unrealized loss on cash flow hedges	(71		)
Reclassification of net realized loss on cash flow hedges into current operations	44
Balance as of April 2, 2017	$	10