Financial Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

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   2019		December 31    2018		March 31   2019		December 31    2018
	Prepaid Expenses and Other				Other
Balance sheet caption	Current Assets				Current Liabilities
Designated as hedging:
Forward foreign currency
exchange contracts	$	6,002	$	4,381	$	722	$	1,548
Not designated as hedging:
Forward foreign currency
exchange contracts	$	289	$	103	$	380	$	122

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	2019		2018
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	585	$	(1,959	)
Ineffective portion – other – net		—		(322	)
Not designated as hedging:
Forward foreign currency
exchange contracts:
Other – net	$	292	$	297

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

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

In thousands	2019			2018
Balance at January 1,	$	3,004		$	(5,640	)
Deferred (losses) gains
on cash flow hedges		3,641			(4,344	)
Reclassified to earnings		(585	)		1,959
Balance at March 31,	$	6,060		$	(8,025	)

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   2019		December 31   2018
Derivative
Sell/Buy - sell notional
Philippine Peso / British Pound		—		13,140
Philippine Peso / Euro		14,625		16,446
Euro / British Pound		15,103		15,250
U.S. Dollar / Euro		1,328		88
Sell/Buy - buy notional
Euro / Philippine Peso		1,037,683		1,069,006
British Pound / Philippine Peso		964,867		980,137
Euro / U.S. Dollar		94,646		76,417
U.S. Dollar / Canadian Dollar		34,304		35,154
British Pound / Euro		—		216

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   2019		December 31   2018
Derivative
Sell/Buy -  sell notional
U.S. Dollar / British Pound		18,000		25,500
British Pound / Euro		3,000		2,000
Sell/Buy - buy notional
Euro / U.S. Dollar		15,000		11,000
British Pound / Euro		4,000		8,000