Derivative Instruments (Tables)

3 Months Ended

Apr. 04, 2015

Financial Information Related to Hedging of Net Assets Included in Consolidated Statements of Operations

Summary financial information related to these activities included in our consolidated statements of operations as other income (expense) is as follows (in thousands):

	Three Months Ended
	April 4, 2015			March 29, 2014
Realized gains from foreign exchange derivatives	$	1,100		$	25
Loss on net foreign currency assets		(28,291	)		(317	)
Foreign exchange (loss)	$	(27,191	)	$	(292	)

	As of
	April 4, 2015		December 31, 2014
Notional balance of outstanding contracts:
Pound/US dollar	£	6,643	£	4,574
Euro/US dollar	€	40,852	€	40,218
Net fair value of outstanding contracts	$	259	$	250

Financial Information Related to Cash Flow Hedges

Summary financial information related to the cash flow hedges is as follows (in thousands):

	As of
	April 4, 2015		March 29, 2014
Change in unrealized gains on anticipated sales hedging:
Gross	$	2,112	$	780
Income tax expense		422		167
Net	$	1,690	$	613

Financial Information Related to Cash Flow Hedges of Future Revenues

Summary financial information related to the cash flow hedges of future revenues follows (in thousands, except percentages):

	As of
	April 4, 2015			December 31, 2014
Notional balance of outstanding contracts versus the dollar	€	90,306		€	88,969
Hedge effectiveness		100	%		100	%

	Three Months Ended
	April 4, 2015		March 29, 2014
Net gains (losses) included in revenue	$	6,435	$	(971	)

Forward Contract Amounts Recorded in Consolidated Balance Sheet

 The amounts recorded on our consolidated balance sheet are as follows (in thousands):

	As of
	April 4, 2015		December 31, 2014
Assets:
Prepaid expenses and other current assets	$	14,074	$	9,318
Total	$	14,074	$	9,318

Schedule of Gross and Net Amount Offset

The gross and net amounts offset at April 4, 2015 were as follows (in thousands):

	Gross Fair Value		Counterparty Offsetting		Net Fair Value in the Consolidated Balance Sheets
Counterparty A	$	11,543	$	5,862	$	5,681
Counterparty B		3,697		1,140		2,557
Counterparty C		4,221		1,422		2,799
Counterparty D		7,962		2,760		5,202
Counterparty E		4,058		1,343		2,715
Counterparty F		4,103		1,377		2,726
Counterparty G		5,082		0		5,082
Total	$	40,666	$	13,904	$	26,762

Schedule of Series of Forward Starting Swaps Each with a Term of One Year

The New Swaps have the following notional amounts per year (in thousands):

Year 2015	$	1,010,000
Year 2016		697,000
Year 2017		544,000
Year 2018		544,000
Year 2019		272,000
Year 2020		272,000
Notional balance of outstanding contracts	$	3,339,000

Forward Interest Rate Swap Contracts [Member]

Forward Contract Amounts Recorded in Consolidated Balance Sheet

The location of the forward interest rate swaps designated in a hedge relationship is as follows (in thousands):

	As of
	April 4, 2015		December 31, 2014
Liabilities:
Other long-term liabilities	$	13,904	$	2,170
Total	$	13,904	$	2,170

Schedule of Volume of Forward Interest Rate Swaps Designated in Hedge Relationship

The volume of the forward interest rate swaps, New Swaps, designated in a hedge relationship is as follows (in thousands):

	As of
	April 4, 2015		December 31, 2014
Notional balance of outstanding contracts	$	3,339,000	$	3,339,000

Schedule of Gain (Loss) Recognized on Forward Interest Rate Swaps Not Designated in Hedge Relationship

The gain (loss) recognized on the forward interest rate swaps not designated in a hedge relationship is as follows (in thousands):

	Three Months Ended
	April 4, 2015		March 29, 2014
Gain on forward interest-rate swaps	$	1,689	$	0

Schedule of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Forward Interest Rate Swaps Designated in Hedging Relationship

The gain (loss) recognized in other comprehensive income (loss) on the forward interest rate swaps designated in a hedging relationship is as follows (in thousands):

	As of
	April 4, 2015			March 29, 2014
Change in unrealized loss on forward interest rate swap hedging:
Gross	$	(11,734	)	$	0
Income tax (benefit)		(4,683	)		0
Total	$	(7,051	)	$	0