Derivative Instruments (Tables)

3 Months Ended

Mar. 29, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The aggregate notional amount of outstanding derivative contracts were as follows (in thousands):

	March 29, 2015		December 31, 2014
Cash flow hedges	$	174,000	$	222,000
Balance sheet hedges	160,312		153,499
Total outstanding derivative contracts	$	334,312	$	375,499

Schedule of Gain (Loss) Attributable to Foreign Exchange Rate Fluctuations

Changes in fair value of derivatives entered into to mitigate the foreign exchange risks related to these balance sheet items are recorded in other income (expense) together with the transaction gain or loss from the respective balance sheet position as follows (in thousands):

	Thirteen Weeks Ended
	March 29, 2015			March 30, 2014
Foreign currency loss, inclusive of the impact of derivatives	$	(120	)	$	(230	)

Schedule of Derivatives Instruments, Offsetting in Balance Sheet

Our derivative instruments are subject to master netting arrangements and are presented net in our balance sheet. We do not have any financial collateral related to these netting arrangements. The effect of these netting arrangements on our balance sheet is as follows (in thousands):

	Offsetting of Derivative Assets							Offsetting of Derivative Liabilities
March 29, 2015	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in Other Current Assets		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in Other Current Liabilities
Foreign exchange contracts designated as hedging instruments	$	895	$	(105	)	$	790	$	—	$	—		$	—
Foreign exchange contracts not designated as hedging instruments	1,411		(1,056		)	355		2,759		(1,061		)	1,698
Total	$	2,306	$	(1,161	)	$	1,145	$	2,759	$	(1,061	)	$	1,698

	Offsetting of Derivative Assets							Offsetting of Derivative Liabilities
December 31, 2014	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in Other Current Assets		Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Balance Sheet			Net Amounts Presented in Other Current Liabilities
Foreign exchange contracts designated as hedging instruments	$	—	$	—		$	—	$	3,283	$	(865	)	$	2,418
Foreign exchange contracts not designated as hedging instruments	2,456		(670		)	1,786		4,729		(2,622		)	2,107
Total	$	2,456	$	(670	)	$	1,786	$	8,012	$	(3,487	)	$	4,525

Schedule of Derivative Instruments, Gain (Loss) in Statement of Operations

The effect of derivative instruments was as follows (in thousands):

	Thirteen Weeks Ended
Foreign Exchange Contracts in Cash Flow Hedging Relationships	March 29, 2015			March 30, 2014
Amount of gain/(loss):
Recognized in AOCI (effective portion)	$	(8,288	)	$	(2,202	)
Reclassified from AOCI into revenue (effective portion)	(112		)	37
Reclassified from AOCI into cost of sales (effective portion)	(2,563		)	(570		)
Recognized in Other, net (ineffective portion and amount excluded from effectiveness testing)	(93		)	—
Foreign Exchange Contracts Not in Cash Flow Hedging Relationships
Amount of gain/(loss):
Recognized in Other, net	$	(7,158	)	$	(3,109	)