Financial Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2017

Fair Values of Derivative Instruments

Fair Value Measurements The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:

In thousands	March 31   2017		December 31    2016		March 31   2017		December 31    2016
	Prepaid Expenses and Other				Other
Balance sheet caption	Current Assets				Current Liabilities
Designated as hedging:
Forward foreign currency
exchange contracts	$	1,206	$	2,625	$	983	$	1,493
Not designated as hedging:
Forward foreign currency
exchange contracts	$	101	$	60	$	52	$	104

Income or (Loss) from Derivative Instruments Recognized in Results of Operations

The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of income where the results are recorded:

	Three months ended March 31
In thousands	2017		2016
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	931	$	298
Ineffective portion – other – net		50	$	(403	)
Not designated as hedging:
Forward foreign currency
exchange contracts:
Other – net	$	21	$	589

Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss)

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income (loss) is as follows:

In thousands	2017			2016
Balance at January 1,	$	1,882		$	(178	)
Deferred (losses) gains
on cash flow hedges		(303	)		307
Reclassified to earnings		(931	)		(298	)
Balance at March 31,	$	648		$	(169	)

Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

In thousands	March 31   2017		December 31   2016
Derivative
Sell/Buy - sell notional
Euro / British Pound		9,768		10,373
Sell/Buy - buy notional
Euro / Philippine Peso		730,295		699,279
British Pound / Philippine Peso		529,192		557,025
Euro / U.S. Dollar		44,021		43,951
U.S. Dollar / Canadian Dollar		34,615		35,290
U.S. Dollar / Euro		12,090		15,379

Not Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:

In thousands	March 31   2017		December 31   2016
Derivative
Sell/Buy -  sell notional
U.S. Dollar / British Pound		12,500		10,500
British Pound / Euro		2,500		2,500
Sell/Buy - buy notional
Euro / U.S. Dollar		7,500		3,500
British Pound / Euro		17,000		18,500