Derivative Financial Instruments (Tables)
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12 Months Ended |
Dec. 28, 2014
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Foreign Currency Derivatives [Abstract] |
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Schedule of hedge instruments measured at fair value on a recurring basis |
The following tables present information about the Company's hedge instruments measured at fair value on a recurring basis as of December 28, 2014 and December 29, 2013, all of which utilize Level 2 inputs under the fair value hierarchy:
| | | | | | | | | | | | (In thousands) | | Balance Sheet Classification | | December 28, 2014 | | December 29, 2013 | Assets | | | | | | | Derivatives designated as hedging instruments: | | | | | | | Foreign currency option contracts | | Prepaid expenses and other current assets | | $ | 2,240 |
| | $ | 615 |
| Foreign currency forward exchange contracts | | Prepaid expenses and other current assets | | 4 |
| | 35 |
| Foreign currency option contracts | | Other long-term assets | | — |
| | 588 |
| | | | | $ | 2,244 |
| | $ | 1,238 |
| Derivatives not designated as hedging instruments: | | | | | | | Foreign currency option contracts | | Prepaid expenses and other current assets | | $ | — |
| | $ | 381 |
| Foreign currency forward exchange contracts | | Prepaid expenses and other current assets | | 4,774 |
| | 3,611 |
| | | | | $ | 4,774 |
| | $ | 3,992 |
| | | | | | | | Liabilities | | | | | | | Derivatives designated as hedging instruments: | | | | | | | Foreign currency option contracts | | Accrued liabilities | | $ | — |
| | $ | 1,595 |
| Foreign currency option contracts | | Other long-term liabilities | | — |
| | 555 |
| Interest rate contracts | | Other long-term liabilities | | 3,712 |
| | 220 |
| | | | | $ | 3,712 |
| | $ | 2,370 |
| | | | | | | | Derivatives not designated as hedging instruments: | | | | | | | Foreign currency option contracts | | Accrued liabilities | | $ | — |
| | $ | 386 |
| Foreign currency forward exchange contracts | | Accrued liabilities | | 1,345 |
| | 4,189 |
| | | | | $ | 1,345 |
| | $ | 4,575 |
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Schedule of offsetting assets and liabilities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | December 28, 2014 | | | | | | | | | Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Rights to Offset | | | (In thousands) | | Gross Amounts Recognized | | Gross Amounts Offset | | Net Amounts Presented | | Financial Instruments | | Cash Collateral | | Net Amounts | Derivative assets | | $ | 7,018 |
| | $ | — |
| | $ | 7,018 |
| | $ | 1,345 |
| | $ | — |
| | $ | 5,673 |
| Derivative liabilities | | $ | 5,057 |
| | $ | — |
| | $ | 5,057 |
| | $ | 1,345 |
| | $ | — |
| | $ | 3,712 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | December 29, 2013 | | | | | | | | | Gross Amounts Not Offset in the Consolidated Balance Sheets, but Have Rights to Offset | | | (In thousands) | | Gross Amounts Recognized | | Gross Amounts Offset | | Net Amounts Presented | | Financial Instruments | | Cash Collateral | | Net Amounts | Derivative assets | | $ | 5,230 |
| | $ | — |
| | $ | 5,230 |
| | $ | 4,512 |
| | $ | — |
| | $ | 718 |
| Derivative liabilities | | $ | 6,945 |
| | $ | — |
| | $ | 6,945 |
| | $ | 4,512 |
| | $ | — |
| | $ | 2,433 |
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Schedule of derivative instruments, effect on other comprehensive income (loss) |
The following table summarizes the pre-tax amount of unrealized gain or loss recognized in "Accumulated other comprehensive income" ("OCI") in "Stockholders' equity" in the Consolidated Balance Sheets: | | | | | | | | | | | | | | | | Fiscal Year | (In thousands) | | 2014 | | 2013 | | 2012 | Derivatives designated as cash flow hedges: | | | | | | | Gain (loss) in OCI at the beginning of the period | | $ | (805 | ) | | $ | (243 | ) | | $ | 10,473 |
| Unrealized gain (loss) recognized in OCI (effective portion) | | (255 | ) | | (168 | ) | | (1,720 | ) | Less: Loss (gain) reclassified from OCI to revenue (effective portion) | | (383 | ) | | (394 | ) | | (8,996 | ) | Net gain (loss) on derivatives | | $ | (638 | ) | | $ | (562 | ) | | $ | (10,716 | ) | Gain (loss) in OCI at the end of the period | | $ | (1,443 | ) | | $ | (805 | ) | | $ | (243 | ) |
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Schedule of gain or loss recognized in Statement of Operations |
The following table summarizes the amount of gain or loss recognized in "Other, net" in the Consolidated Statements of Operations in the years ended December 28, 2014, December 29, 2013 and December 30, 2012: | | | | | | | | | | | | | | | | Fiscal Year | (In thousands) | | 2014 | | 2013 | | 2012 | Derivatives designated as cash flow hedges: | | | | | | | Gain (loss) recognized in "Other, net" on derivatives (ineffective portion and amount excluded from effectiveness testing) | | $ | 704 |
| | $ | (3,029 | ) | | $ | (1,853 | ) | Derivatives not designated as hedging instruments: | | | | | | | Gain (loss) recognized in "Other, net" | | $ | 6,463 |
| | $ | (4,615 | ) | | $ | 3,126 |
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