Financial Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2017

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	September 30 2017		December 31 2016		September 30 2017		December 31 2016
	Prepaid Expenses and Other				Other
Balance sheet caption	Current Assets				Current Liabilities
Designated as hedging:
Forward foreign currency
exchange contracts	$	1,416	$	2,625	$	5,672	$	1,493
Not designated as hedging:
Forward foreign currency
exchange contracts	$	679	$	60	$	780	$	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 September 30						Nine months ended September 30
In thousands	2017			2016			2017		2016
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	(29	)	$	(347	)	$	1,687	$	(264	)
Ineffective portion – other – net		40			(69	)		126		(399	)
Not designated as hedging:
Forward foreign currency
exchange contracts:
Other – net	$	328		$	332		$	719	$	1,396

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		(6,455	)		(200	)
Reclassified to earnings		(1,687	)		264
Balance at September 30,	$	(6,260	)	$	(114	)

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	September 30 2017		December 31 2016
Derivative
Sell/Buy - sell notional
Philippine Peso / British Pound		19,047		—
Euro / British Pound		11,428		10,373
U.S. Dollar / Euro		1,471		—
Canadian Dollar / U.S. Dollar		20		—
Sell/Buy - buy notional
Euro / Philippine Peso		857,103		699,279
British Pound / Philippine Peso		644,076		557,025
U.S. Dollar / Euro		7,799		15,379
Euro / U.S. Dollar		54,135		43,951
U.S. Dollar / Canadian Dollar		32,760		35,290
British Pound / Euro		335		—

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	September 30 2017		December 31 2016
Derivative
Sell/Buy - sell notional
U.S. Dollar / British Pound		17,500		10,500
British Pound / Euro		1,000		2,500
Sell/Buy - buy notional
Euro / U.S. Dollar		4,500		3,500
British Pound / Euro		12,000		18,500