Derivative Financial Instruments

9 Months Ended

Oct. 03, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

We use foreign currency forward contracts that are not designated as hedges primarily to manage currency risk associated with foreign currency-denominated trade accounts receivable, accounts payable and intercompany loans.

The notional amounts and fair values of derivative instruments in our consolidated balance sheet were as follows:

	Notional Amounts (1)				Fair Value
	October 3, 2015		January 3, 2015		October 3, 2015			January 3, 2015
Derivatives not receiving hedge accounting treatment recorded in:
Other current assets
Foreign exchange contracts	$	1,524,817	$	1,863,626	$	20,061		$	31,213
Accrued expenses
Foreign exchange contracts	624,660		450,352		(6,353		)	(1,793		)
Total	$	2,149,477	$	2,313,978	$	13,708		$	29,420

(1) Notional amounts represent the gross amount of foreign currency bought or sold at maturity for foreign exchange contracts.

The amount recognized in earnings from our derivative instruments not receiving hedge accounting treatment, including ineffectiveness, is recorded in net foreign exchange loss (gain) as follows and was largely offset by the change in fair value of the underlying hedged assets or liabilities:

	Thirteen Weeks Ended					Thirty-nine Weeks Ended
	October 3, 2015			September 27, 2014		October 3, 2015		September 27, 2014
Net gain (loss) recognized in earnings	$	(7,037	)	$	92,802	$	84,857	$	85,828