Foreign Currency and Other, Net

3 Months Ended

Mar. 29, 2014

Transactions that are denominated in a currency other than an entity's functional currency are subject to changes in exchange rates with the resulting gains and losses recorded within current earnings. The Company includes these gains and losses related to intercompany loans and debt as well as other non-operating activities as a component of Other income (expense).

Amounts associated with these components for the respective periods are as follows:



In thousands	Three Months Ended March 29, 2014			Three Months Ended March 30, 2013
Foreign currency gains (losses)	$	(5,400	)	$	(996	)
Other non-operating income (expense)	10,359			(424		)
Total	$	4,959		$	(1,420	)

On January 27, 2014, the Company entered into a series of foreign exchange forward contracts with a third-party financial institution used to minimize foreign exchange risk on the future consideration to be paid for the Brazil Acquisition and the Mandatory Tender Offer. As the nature of this transaction is related to a non-operating notional amount, changes in fair value of $10.8 million are included in other non-operating income (expense) in the current period.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

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