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Derivative Instruments (Tables) | 3 Months Ended
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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 |

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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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