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Derivative Instruments (Tables) | 6 Months Ended
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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 |

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