Derivative Instruments (Tables)

6 Months Ended

Jul. 03, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The Company had the following outstanding forward contracts (in thousands):



	July 3, 2016			December 31, 2015
Currency	Notional Value	USD Equivalent		Notional Value	USD Equivalent
Derivatives Designated as Hedging Instruments:
United States Dollar	11,518	$	11,518	16,720	$	16,720
Japanese Yen	842,500	7,448		942,500	7,605
Hungarian Forint	221,000	779		547,000	1,893
Singapore Dollar	816	576		2,063	1,425
Canadian Dollar	—	—		41	37
British Pound	—	—		25	34
Derivatives Not Designated as Hedging Instruments:
Japanese Yen	650,000	$	6,313	700,000	$	5,800
British Pound	1,620	2,146		1,650	2,441
Korean Won	1,750,000	1,521		1,400,000	1,187
Singapore Dollar	1,580	1,171		1,525	1,074
Hungarian Forint	325,000	1,138		250,000	857
Taiwanese Dollar	27,975	867		26,425	800

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):



	Asset Derivatives					Liability Derivatives
	Balance	Fair Value				Balance	Fair Value
	Sheet Location	July 3, 2016		December 31, 2015		Sheet Location	July 3, 2016		December 31, 2015
Derivatives Designated as Hedging Instruments:
Cash flow hedge forward contracts	Prepaid expenses and other current assets	$	205	$	441	Accrued expenses	$	757	$	201
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contracts	Prepaid expenses and other current assets	$	—	$	9	Accrued expenses	$	26	$	43

Offsetting Assets

The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands):



Asset Derivatives							Liability Derivatives
	July 3, 2016			December 31, 2015				July 3, 2016			December 31, 2015
Gross amounts of recognized assets	$	248		$	479		Gross amounts of recognized liabilities	$	786		$	279
Gross amounts offset	(43		)	(29		)	Gross amounts offset	(3		)	(35		)
Net amount of assets presented	$	205		$	450		Net amount of liabilities presented	$	783		$	244

Derivative Instruments, Gain (Loss)

Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands):



	Location in Financial Statements	Three-months Ended						Six-months Ended
	Location in Financial Statements	July 3, 2016			July 5, 2015			July 3, 2016			July 5, 2015
Derivatives Designated as Hedging Instruments:
Gains (losses) recorded in shareholders' equity (effective portion)	Accumulated other comprehensive income (loss), net of tax	$	(487	)	$	(72	)	$	(487	)	$	(72	)
Gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations (effective portion)	Revenue	$	(200	)	$	(159	)	$	(203	)	$	(311	)
	Research, development, and engineering expenses	2			18			4			19
	Selling, general, and administrative expenses	8			72			13			113
	Total gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations	$	(190	)	$	(69	)	$	(186	)	$	(179	)
Gains (losses) recognized in current operations (ineffective portion and discontinued derivatives)	Foreign currency gain (loss)	$	—		$	—		$	—		$	—
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operations	Foreign currency gain (loss)	$	(705	)	$	233		$	(1,065	)	$	342

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following table provides the changes in accumulated other comprehensive income (loss), net of tax, related to derivative instruments (in thousands):



Balance as of December 31, 2015	$	206
Reclassification of net realized loss on cash flow hedges into current operations	186
Net unrealized loss on cash flow hedges	(879		)
Balance as of July 3, 2016	$	(487	)