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Other Comprehensive (Loss) Income | 6 Months Ended
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Jul. 04, 2015
Equity [Abstract] |
Other Comprehensive (Loss) Income | Note 18 – Other Comprehensive (Loss) Income Stockholders’ equity includes certain items classified as accumulated other comprehensive (loss) income (AOCI), including:
| • |  | Unrealized gains (losses) on anticipated sales hedging transactions relate to derivative instruments used to hedge the currency exchange rates for forecasted euro sales. These hedges are designated as cash flow hedges, and the Company defers income statement recognition of gains and losses until the hedged transaction occurs. See Note 11 Derivative Instruments for more details.
| • |  | Unrealized gains (losses) on forward interest rate swaps hedging transactions refer to the hedging of the interest rate risk associated with the variable rate commitment entered into for the Acquisition. See Note 11 Derivative Instruments for more details.
| • |  | Unrealized gains (losses) on investments are deferred from Statement of Operations recognition until the gains or losses are realized.
| • |  | Foreign currency translation adjustment relates to the Company’s non-U.S. subsidiary companies that have designated a functional currency other than the U.S. dollar. The Company is required to translate the subsidiary functional currency financial statements to dollars using a combination of historical, period-end, and average foreign exchange rates. This combination of rates creates the foreign currency translation adjustment component of other comprehensive income.
The components of other comprehensive (loss) income (OCI) the three months ended July 4, 2015 and June 28, 2014 are as follows (in thousands):
2015 |  | As of April 4, 2015 |  |  | Balance recognized in OCI |  |  | Balance reclassified from AOCI to income |  |  | Three Months ended July 4, 2015 |  |  | As of July 4, 2015 |
Unrealized gains (losses) on anticipated sales hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | 8,770 |  |  | $ | (969 | ) |  | $ | (4,833 | )(1) |  | $ | (5,802 | ) |  | $ | 2,968 |
Income tax (benefit) |  |  | 1,754 |  |  |  | (165 | ) |  |  | (995 | ) |  |  | (1,160 | ) |  |  | 594 |
Net |  |  | 7,016 |  |  |  | (804 | ) |  |  | (3,838 | ) |  |  | (4,642 | ) |  |  | 2,374 |
Unrealized (losses) gains on forward interest rate swaps hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | (23,803 | ) |  |  | 5,115 |  |  |  | 0 | (2) |  |  | 5,115 |  |  |  | (18,688 | )
Income tax (benefit) |  |  | (9,053 | ) |  |  | 1,951 |  |  |  | 0 |  |  |  | 1,951 |  |  |  | (7,102 | )
Net |  |  | (14,750 | ) |  |  | 3,164 |  |  |  | 0 |  |  |  | 3,164 |  |  |  | (11,586 | )
Unrealized gains (losses) on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | 77 |  |  |  | 0 |  |  |  | 0 | (3) |  |  | 0 |  |  |  | 77 |
Income tax (benefit) |  |  | (254 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (254 | )
Net |  |  | 331 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 331 |
Foreign currency translation adjustment (5) |  |  | (8,233 | ) |  |  | 576 |  |  |  | (9,108 | )(4) |  |  | (8,532 | ) |  |  | (16,765 | )
Total accumulated other comprehensive (loss) gain |  | $ | (15,636 | ) |  | $ | 2,936 |  |  | $ | (12,946 | ) |  | $ | (10,010 | ) |  | $ | (25,646 | )
2014 |  | As of March 29, 2014 |  |  | Balance recognized in OCI |  |  | Balance reclassified from AOCI to income |  |  | Three Months ended June 28, 2014 |  |  | As of June 28, 2014 |
Unrealized (losses) gains on anticipated sales hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | (1,593 | ) |  | $ | 182 |  |  | $ | 817 | (1) |  | $ | 999 |  |  | $ | (594 | )
Income tax (benefit) |  |  | (342 | ) |  |  | 48 |  |  |  | 175 |  |  |  | 223 |  |  |  | (119 | )
Net |  |  | (1,251 | ) |  |  | 134 |  |  |  | 642 |  |  |  | 776 |  |  |  | (475 | )
Unrealized gains (losses) on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | 51 |  |  |  | 468 |  |  |  | 7 | (3) |  |  | 475 |  |  |  | 526 |
Income tax (benefit) |  |  | (19 | ) |  |  | 122 |  |  |  | 5 |  |  |  | 127 |  |  |  | 108 |
Net |  |  | 70 |  |  |  | 346 |  |  |  | 2 |  |  |  | 348 |  |  |  | 418 |
Foreign currency translation adjustment (5) |  |  | (8,006 | ) |  |  | (29 | ) |  |  | 0 | (4) |  |  | (29 | ) |  |  | (8,035 | )
Total accumulated other comprehensive (loss) gain |  | $ | (9,187 | ) |  | $ | 451 |  |  | $ | 644 |  |  | $ | 1,095 |  |  | $ | (8,092 | )
(1) | Transfers of unrealized gains and (losses) from AOCI to income on anticipated sales hedging transactions are included in net sales of tangible products.
(2) | Transfers from AOCI to income and (losses) on forward interest rate swaps hedging transactions are reported in forward swaps gain.
(3) | Transfers of unrealized gains and (losses) from AOCI to income on investments are included in investment income.
(4) | Transfers of foreign currency translation gains and (losses) from AOCI to income, are included in foreign exchange income (loss).
(5) | Unrealized foreign currency translation adjustments related to translation of foreign denominated balance sheets are not presented net of tax given that no deferred U.S. income taxes have been provided on the undistributed earnings of non-U.S. subsidiaries because they are deemed to be permanently reinvested.
The components of other comprehensive income (loss) for the six months ended July 4, 2015 and June 28, 2014 are as follows (in thousands):
2015 |  | As of December 31, 2014 |  |  | Balance recognized in OCI |  |  | Balance reclassified from AOCI to income |  |  | Six Months ended July 4, 2015 |  |  | As of July 4, 2015 |
Unrealized gain (losses) on anticipated sales hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | 6,658 |  |  | $ | 7,577 |  |  | $ | (11,268 | )(1) |  | $ | (3,691 | ) |  | $ | 2,968 |
Income tax (benefit) |  |  | 1,332 |  |  |  | 1,543 |  |  |  | (2,282 | ) |  |  | (739 | ) |  |  | 594 |
Net |  |  | 5,326 |  |  |  | 6,034 |  |  |  | (8,986 | ) |  |  | (2,952 | ) |  |  | 2,374 |
Unrealized (losses) gains on forward interest rate swaps hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | (12,069 | ) |  |  | (6,619 | ) |  |  | 0 | (2) |  |  | (6,619 | ) |  |  | (18,688 | )
Income tax (benefit) |  |  | (4,370 | ) |  |  | (2,732 | ) |  |  | 0 |  |  |  | (2,732 | ) |  |  | (7,102 | )
Net |  |  | (7,699 | ) |  |  | (3,887 | ) |  |  | 0 |  |  |  | (3,887 | ) |  |  | (11,586 | )
Unrealized gains (losses) on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | 102 |  |  |  | 0 |  |  |  | (25 | )(3) |  |  | (25 | ) |  |  | 77 |
Income tax (benefit) |  |  | (245 | ) |  |  | 0 |  |  |  | (9 | ) |  |  | (9 | ) |  |  | (254 | )
Net |  |  | 347 |  |  |  | 0 |  |  |  | (16 | ) |  |  | (16 | ) |  |  | 331 |
Foreign currency translation adjustment (5) |  |  | (6,521 | ) |  |  | 4,164 |  |  |  | (14,408 | )(4) |  |  | (10,244 | ) |  |  | (16,765 | )
Total accumulated other comprehensive (loss) gain |  | $ | (8,547 | ) |  | $ | 6,311 |  |  | $ | (23,410 | ) |  | $ | (17,099 | ) |  | $ | (25,646 | )
2014 |  | As of December 31, 2013 |  |  | Balance recognized in OCI |  |  | Balance reclassified from AOCI to income |  |  | Six months ended June 28, 2014 |  |  | As of June 28, 2014 |
Unrealized (losses) gains on hedging transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | (2,373 | ) |  | $ | (30 | ) |  | $ | 1,809 | (1) |  | $ | 1,779 |  |  | $ | (594 | )
Income tax (benefit) |  |  | (509 | ) |  |  | 1 |  |  |  | 389 |  |  |  | 390 |  |  |  | (119 | )
Net |  |  | (1,864 | ) |  |  | (31 | ) |  |  | 1,420 |  |  |  | 1,389 |  |  |  | (475 | )
Unrealized (losses) gains on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  |  | (151 | ) |  |  | 751 |  |  |  | (74 | )(3) |  |  | 677 |  |  |  | 526 |
Income tax (benefit) |  |  | (73 | ) |  |  | 201 |  |  |  | (20 | ) |  |  | 181 |  |  |  | 108 |
Net |  |  | (78 | ) |  |  | 550 |  |  |  | (54 | ) |  |  | 496 |  |  |  | 418 |
Foreign currency translation adjustments (5) |  |  | (7,839 | ) |  |  | (203 | ) |  |  | 7 | (4) |  |  | (196 | ) |  |  | (8,035 | )
Total accumulated other comprehensive (loss) gain |  | $ | (9,781 | ) |  | $ | 316 |  |  | $ | 1,373 |  |  | $ | 1,689 |  |  | $ | (8,092 | )
(1) | Transfers of unrealized gains and (losses) from AOCI to income on anticipated sales hedging transactions are included in net sales of tangible products.
(2) | Transfers from AOCI to income and (losses) on forward interest rate swaps hedging transactions are reported in forward swaps gain.
(3) | Transfers of unrealized gains and (losses) from AOCI to income on investments are included in investment income.
(4) | Transfers of foreign currency translation gains and (losses) from AOCI to income, are included in foreign exchange income (loss).
(5) | Unrealized foreign currency translation adjustments related to translation of foreign denominated balance sheets are not presented net of tax given that no deferred U.S. income taxes have been provided on the undistributed earnings of non-U.S. subsidiaries because they are deemed to be permanently reinvested.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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