Financial Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Fair Values of Derivative Instruments

Fair Value Measurements

The following table summarizes the fair values of derivative instruments as of December 31 for the year indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded:

	December 31				December 31
In thousands		2020		2019		2020		2019
	Prepaid Expenses and Other				Other Current
Balance sheet caption	Current Assets				Liabilities
Designated as hedging:
Forward foreign currency exchange contracts	$	577	$	4,314	$	4,342	$	34
Interest rate swap		—		—		136		12
Not designated as hedging:
Forward foreign currency exchange contracts	$	456	$	566	$	118	$	205

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 consolidated statements of income (loss) where the results are recorded:

	Year ended December 31
In thousands	2020		2019		2018
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	5,503	$	6,468	$	(5,020	)
Ineffective portion – other – net		—		—		138
Interest expense		83		—		—
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net	$	1,679	$	300	$	(1,419	)

Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income

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

In thousands	2020			2019
Balance at January 1,	$	5,859		$	3,004
Deferred (losses) gains on cash flow hedges		(3,899	)		9,323
Reclassified to earnings		(5,420	)		(6,468	)
Balance at December 31,	$	(3,460	)	$	5,859

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:

	December 31
In thousands		2020	2019
Derivative
Sell/Buy - sell notional
Euro / British Pound		18,638	17,702
Philippine Peso / Euro		18,522	—
U.S. Dollar / Euro		1,041	5,347
Canadian Dollar / U.S. Dollar		70	—
U.S. Dollar / Canadian Dollar		—	1,523
Sell/Buy - buy notional
Euro / Philippine Peso		853,686	1,039,432
British Pound / Philippine Peso		1,081,791	1,077,871
Euro / U.S. Dollar		69,324	82,317
U.S. Dollar / Canadian Dollar		34,847	34,094
Canadian Dollar / U.S. Dollar		—	1,523

Not Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

	December 31
In thousands		2020	2019
Derivative
Sell/Buy - sell notional
U.S. Dollar / British Pound		25,250	25,500
Euro / British Pound	600		—
British Pound / Euro		1,900	3,000
Sell/Buy - buy notional
Euro / U.S. Dollar		7,500	8,000
British Pound / Euro		—	7,000