|
Derivative Financial Instruments and Hedging Activities (Tables)
|
6 Months Ended |
|
Jul. 02, 2011
|
| Derivative Financial Instruments and Hedging Activities |
|
| Schedule of Derivative Instruments |
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| In thousands |
|
Fair Value of Derivatives |
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|
Fair Value of Derivatives |
|
| |
|
with Unrealized Gains |
|
|
with Unrealized Losses |
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| |
|
June |
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December |
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June |
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June |
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December |
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June |
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| |
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2011 |
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2010 |
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|
2010 |
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|
2011 |
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2010 |
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|
2010 |
|
|
Foreign exchange contracts designated as hedging instruments
|
|
$ |
22,141 |
|
|
$ |
18,389 |
|
|
$ |
41,845 |
|
|
$ |
63,722 |
|
|
$ |
27,916 |
|
|
$ |
14,360 |
|
|
|
|
|
|
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|
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|
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|
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Foreign exchange contracts not designated as hedging instruments
|
|
|
1,698 |
|
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|
179 |
|
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|
169 |
|
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|
184 |
|
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|
899 |
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|
909 |
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Total derivatives
|
|
$ |
23,839 |
|
|
$ |
18,568 |
|
|
$ |
42,014 |
|
|
$ |
63,906 |
|
|
$ |
28,815 |
|
|
$ |
15,269 |
|
|
|
|
|
|
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| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
| |
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| In thousands |
|
June 2011 |
|
December 2010 |
|
June 2010 |
|
Other current assets
|
|
$ |
21,421 |
|
|
$ |
15,296 |
|
|
$ |
39,430 |
|
|
Accrued current liabilities
|
|
|
(58,040 |
) |
|
|
(25,440 |
) |
|
|
(11,772 |
) |
|
Other assets (noncurrent)
|
|
|
2,418 |
|
|
|
3,272 |
|
|
|
2,584 |
|
|
Other liabilities (noncurrent)
|
|
|
(5,866 |
) |
|
|
(3,375 |
) |
|
|
(3,497 |
) |
|
| Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance |
| |
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| In thousands |
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Location |
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of Gain |
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Location of |
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(Loss) on |
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|
Hedged Items |
|
Gain (Loss) |
|
Gain (Loss) on |
| Fair Value |
|
Derivatives |
|
Gain (Loss) on Derivatives |
|
in Fair Value |
|
Recognized |
|
Related Hedged Item |
| Hedging |
|
Recognized |
|
Recognized in Income |
|
Hedge |
|
on Related |
|
Recognized in Income |
| Relationships |
|
in Income |
|
Three Months |
|
Six Months |
|
Relationships |
|
Hedged Items |
|
Three Months |
|
Six Months |
|
Period ended June 2011
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Foreign exchange
|
|
Miscellaneous
income
(expense) |
|
$ |
(3,817 |
) |
|
$ |
(5,047 |
) |
|
Advances — intercompany |
|
Miscellaneous
income
(expense) |
|
$ |
2,829 |
|
|
$ |
3,799 |
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Period ended June 2010
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Foreign exchange
|
|
Miscellaneous
income
(expense) |
|
$ |
16,051 |
|
|
$ |
23,084 |
|
|
Advances — intercompany |
|
Miscellaneous
income
(expense) |
|
$ |
(15,959 |
) |
|
$ |
(23,001 |
) |
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| Schedule of Derivative Instruments, Cash Flow Hedges |
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| In thousands |
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Location of |
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|
Gain (Loss) |
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|
Gain (Loss) Reclassified |
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| Cash Flow |
|
Gain (Loss) on Derivatives |
|
|
Reclassified from |
|
|
from Accumulated |
|
| Hedging |
|
Recognized in OCI |
|
|
Accumulated |
|
|
OCI into Income |
|
| Relationships |
|
Three Months |
|
|
Six Months |
|
|
OCI into Income |
|
|
Three Months |
|
|
Six Months |
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|
Periods ended June 2011
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Foreign exchange
|
|
$ |
(8,370 |
) |
|
$ |
(34,552 |
) |
|
Net sales |
|
$ |
1,627 |
|
|
$ |
1,231 |
|
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|
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|
Cost of goods sold |
|
|
(338 |
) |
|
|
4,804 |
|
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|
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|
Miscellaneous income (expense) |
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|
(1,591 |
) |
|
|
(3,536 |
) |
|
Interest rate
|
|
|
— |
|
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|
— |
|
|
Interest expense |
|
|
29 |
|
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|
58 |
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Total
|
|
$ |
(8,370 |
) |
|
$ |
(34,552 |
) |
|
|
|
|
|
$ |
(273 |
) |
|
$ |
2,557 |
|
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Periods ended June 2010
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Foreign exchange
|
|
$ |
15,674 |
|
|
$ |
36,515 |
|
|
Net sales |
|
$ |
(295 |
) |
|
$ |
(1,264 |
) |
|
|
|
|
|
|
|
|
|
|
|
Cost of goods sold |
|
|
1,241 |
|
|
|
(5,713 |
) |
|
|
|
|
|
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|
|
|
|
|
Miscellaneous income (expense) |
|
|
549 |
|
|
|
(804 |
) |
|
Interest rate
|
|
|
— |
|
|
|
— |
|
|
Interest expense |
|
|
29 |
|
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|
58 |
|
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Total
|
|
$ |
15,674 |
|
|
$ |
36,515 |
|
|
|
|
|
|
$ |
1,524 |
|
|
$ |
(7,723 |
) |
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