XML 28 R30.htm IDEA: XBRL DOCUMENT v2.4.0.6
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Apr. 01, 2012
Notes To Financial Statements Abstract  
The fair value of derivative instruments
The fair value of derivative instruments in the Consolidated Balance Sheet as of April 1, 2012 was as follows:
Balance Sheet Caption
 
Foreign Exchange Forward Contracts
and Options
 
Commodities Futures and Options Contracts
In thousands of dollars
 
 
 
 
Prepaid expense and other current assets
 
$
2,428

 
$
330

Accrued liabilities
 
$
3,164

 
$
3,755

The fair value of derivative instruments in the Consolidated Balance Sheet as of December 31, 2011 was as follows:
Balance Sheet Caption
 
Foreign Exchange Forward Contracts
and Options
 
Commodities Futures and Options Contracts
In thousands of dollars
 
 
 
 
Prepaid expense and other current assets
 
$
3,954

 
$
3,929

Accrued liabilities
 
$
5,297

 
$
2,103

Other long-term liabilities
 
$
12

 
$
—
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]
The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 1, 2012 was as follows:
Cash Flow Hedging Derivatives
 
Interest Rate Swap Agreements
 
Foreign Exchange Forward Contracts and Options
 
Commodities Futures and Options Contracts
In thousands of dollars
 
 
 
 
 
 
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)
 
$
—

 
$
1,669

 
$
14,825

Gains (losses) reclassified from accumulated OCI into income (effective portion) (a)
 
$
(924
)
 
$
(1,100
)
 
$
(26,000
)
Gains (losses) recognized in income (ineffective portion) (b)
 
$
—

 
$
—

 
$
651

The effect of derivative instruments on the Consolidated Statements of Income for the three months ended April 3, 2011 was as follows:
Cash Flow Hedging Derivatives
 
Interest Rate Swap Agreements
 
Foreign Exchange Forward Contracts and Options
 
Commodities Futures and Options Contracts
In thousands of dollars
 
 
 
 
 
 
Gains (losses) recognized in other comprehensive income (“OCI”) (effective portion)
 
$
836

 
$
(2,035
)
 
$
(1
)
Gains (losses) reclassified from accumulated OCI into income (effective portion) (a)
 
$
517

 
$
930

 
$
3,800

Gains (losses) recognized in income (ineffective portion) (b)
 
$
—

 
$
—

 
$
(78
)