Derivative Instruments (Tables)

6 Months Ended

Jul. 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 the Company’s consolidated statements of operations as other (expense) income is as follows (in thousands):

	Three Months Ended						Six Months Ended
	July 4, 2015			June 28, 2014			July 4, 2015			June 28, 2014
Realized (loss) gain from foreign exchange derivatives	$	(933	)	$	516		$	3,370		$	541
Gain (loss) on net foreign currency assets		12,185			(473	)		(19,309	)		(790	)
Foreign exchange gain (loss)	$	11,252		$	43		$	(15,939	)	$	(249	)

	As of
	July 4, 2015		December 31, 2014
Notional balance of outstanding contracts (in thousands):
British pound/US dollar	£	15,882	£	4,574
Euro/US dollar	€	171,446	€	40,218
British pound/ Euro	£	11,482	£	0
US dollar /Canadian dollar	$	38,315	$	0
Czech Koruna /US dollar	Kč	266,579	Kč	0
Brazilian Real /US dollar	R$	44,485	R$	0
Net fair value of outstanding contracts	$	206	$	250

Financial Information Related to Cash Flow Hedges

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

	Three Months Ended					Six Months Ended
	July 4, 2015			June 28, 2014		July 4, 2015			June 28, 2014
Change in unrealized (losses) gains on anticipated sales hedging:
Gross	$	(5,802	)	$	999	$	(3,691	)	$	1,779
Income tax expense (benefit)		(1,160	)		223		(739	)		390
Net	$	(4,642	)	$	776	$	(2,952	)	$	1,389

Financial Information Related to Cash Flow Hedges of Future Revenues

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

	As of
	July 4, 2015			December 31, 2014
Notional balance of outstanding contracts versus the dollar	€	98,120		€	88,969
Hedge effectiveness		100	%		100	%

	Three Months Ended					Six Months Ended
	July 4, 2015		June 28, 2014			July 4, 2015		June 28, 2014
Net gains (losses) included in revenue	$	4,833	$	(957	)	$	11,268	$	(1,928	)

Forward Contract Amounts Recorded in Consolidated Balance Sheet

The amounts recorded on the consolidated balance sheets are as follows (in thousands):

	As of
	July 4, 2015		December 31, 2014
Assets:
Prepaid expenses and other current assets	$	4,567	$	9,318
Total	$	4,567	$	9,318
Liabilities:
Accrued liabilities	$	677	$	0
Total	$	677	$	0

Schedule of Gross and Net Amount Offset

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

	Gross Fair Value		Counterparty Offsetting		Net Fair Value in the Consolidated Balance Sheets
Counterparty A	$	8,435	$	3,622	$	4,813
Counterparty B		3,194		839		2,355
Counterparty C		3,328		917		2,411
Counterparty D		6,216		1,775		4,441
Counterparty E		3,167		837		2,330
Counterparty F		3,136		829		2,307
Counterparty G		4,674		0		4,674
Total	$	32,150	$	8,819	$	23,331

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 [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
	July 4, 2015			December 31, 2014
Other long-term liabilities	$	8,819		$	2,170
Hedge effectiveness		100	%		100	%

Schedule of Volume of New Swaps Designated in Hedge Relationship

The volume of the New Swaps designated in a hedge relationship is as follows (in thousands):

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

	Three Months Ended						Six Months Ended
	July 4, 2015			June 28, 2014			July 4, 2015		June 28, 2014
(Loss) gain on forward interest-rate swaps	$	(1,653	)	$	(2,433	)	$	36	$	(2,433	)

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

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

	Three Months Ended				Six Months Ended
	July 4, 2015		June 28, 2014		July 4, 2015			June 28, 2014
Change in unrealized gains (losses) on forward interest rate swap hedging:
Gross	$	5,115	$	0	$	(6,619	)	$	0
Income tax expense (benefit)		1,951		0		(2,732	)		0
Net	$	3,164	$	0	$	(3,887	)	$	0