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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 29, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instrument Fair Value
The following table summarizes the fair value of the Company’s derivative financial instruments (in thousands):
 
June 29, 2014
 
December 31, 2013
 
June 30, 2013
Derivatives Designated As Hedging
Instruments Under ASC Topic 815
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
Foreign currency contracts(c)
$
398,338

 
$
3,091

 
$
1,461

 
$
299,550

 
$
1,672

 
$
3,842

 
$
333,407

 
$
11,214

 
$
29

Commodity
contracts(c)
1,411

 
—

 
17

 
1,286

 
76

 
—

 
1,226

 
—

 
99

Interest rate swaps(c)
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Total
$
399,749

 
$
3,091

 
$
1,478


$
300,836

 
$
1,748

 
$
3,842


$
334,633

 
$
11,214

 
$
128

 
June 29, 2014
 
December 31, 2013
 
June 30, 2013
Derivatives Not Designated As Hedging
Instruments Under ASC Topic 815
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
 
Notional
Value
 
Asset
Fair  Value(a)
 
Liability
Fair  Value(b)
Commodity contracts
$
7,754

 
$
68

 
$
—

 
$
9,855

 
$
184

 
$
83

 
$
11,958

 
$
—

 
$
442

 
$
7,754


$
68

 
$
—

 
$
9,855

 
$
184

 
$
83

 
$
11,958

 
$
—

 
$
442


 
(a)
Included in other current assets
(b)
Included in accrued liabilities
(c)
Derivative designated as a cash flow hedge
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables summarize the amount of gains and losses related to derivative financial instruments designated as cash flow hedges (in thousands):
 
Amount of Gain/(Loss) Recognized in OCI, before tax
 
Three months ended
 
Six months ended
Cash Flow Hedges
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
Foreign currency contracts
$
3,931

 
$
723

 
$
2,493

 
$
16,444

Commodity contracts
(24
)
 
(231
)
 
191

 
(72
)
Interest rate swaps
—

 
—

 
—

 
(2
)
Total
$
3,907

 
$
492

 
$
2,684

 
$
16,370


 
 
Amount of Gain/(Loss) Reclassified from AOCL into Income
 
 
 
Three months ended
 
Six months ended
 
Expected to be Reclassified
Cash Flow Hedges
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
 
Over the Next Twelve Months
Foreign currency contracts(a)
$
(1,183
)
 
$
753

 
$
(2,241
)
 
$
13

 
$
1,990

Commodity contracts(a)
87

 
(34
)
 
283

 
13

 
(17
)
Interest rate swaps(b)
—

 
(82
)
 
—

 
(345
)
 
—

Total
$
(1,096
)
 
$
637

 
$
(1,958
)
 
$
(319
)
 
$
1,973

 
(a)
Gain/(loss) reclassified from accumulated other comprehensive loss (AOCL) to income is included in cost of goods sold.
(b)
Gain/(loss) reclassified from AOCL to income is included in financial services interest expense.
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following tables summarize the amount of gains and losses related to derivative financial instruments not designated as hedging instruments (in thousands):
 
Amount of Gain/(Loss) Recognized in Income on Derivative
 
Three months ended
 
Six months ended
Derivatives Not Designated As Hedges
June 29,
2014
 
June 30,
2013
 
June 29,
2014
 
June 30,
2013
Commodity contracts(a)
$
184

 
$
21

 
$
(144
)
 
$
(609
)
Total
$
184

 
$
21

 
$
(144
)
 
$
(609
)