Financial Instruments and Fair Value Measurements (Tables)
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3 Months Ended |
Mar. 29, 2019 |
|---|
| Financial Instruments and Fair Value Measurements [Abstract] |
|
| Company's assets and liabilities measured at fair value for each fair value hierarchy level [Table Text Block] |
A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: | | | | | | | | | | | | | | | | | | March 29, 2019 | | Level
One | | Level
Two | | Level
Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 6,485 |
| | $ | — |
| | $ | — |
| | $ | 6,485 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 629 |
| | — |
| | 629 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 173 |
| | — |
| | 173 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 503 |
| | — |
| | 503 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 261 |
| | — |
| | 261 |
| Deferred compensation plans | — |
| | 7,790 |
| | — |
| | 7,790 |
| | $ | 6,485 |
| | $ | 9,356 |
| | $ | — |
| | $ | 15,841 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 2,154 |
| | $ | — |
| | $ | 2,154 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 61 |
| | — |
| | 61 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 381 |
| | — |
| | 381 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 818 |
| | — |
| | 818 |
| Deferred compensation plans | — |
| | 7,790 |
| | — |
| | 7,790 |
| | $ | — |
| | $ | 11,204 |
| | $ | — |
| | $ | 11,204 |
|
| | | | | | | | | | | | | | | | | | December 31, 2018 | | Level
One | | Level
Two | | Level
Three | | Total | | (In thousands) | Assets: | | | | | | | | Cash equivalents | $ | 5,388 |
| | $ | — |
| | $ | — |
| | $ | 5,388 |
| Foreign currency contracts related to sales - designated as hedges | — |
| | 283 |
| | — |
| | 283 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 326 |
| | — |
| | 326 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 1,146 |
| | — |
| | 1,146 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 325 |
| | — |
| | 325 |
| Deferred compensation plans | — |
| | 7,154 |
| | — |
| | 7,154 |
| | $ | 5,388 |
| | $ | 9,234 |
| | $ | — |
| | $ | 14,622 |
| | | | | | | | | Liabilities: | | | | | | | | Foreign currency contracts related to sales - designated as hedges | $ | — |
| | $ | 2,452 |
| | $ | — |
| | $ | 2,452 |
| Foreign currency contracts related to sales - not designated as hedges | — |
| | 133 |
| | — |
| | 133 |
| Foreign currency contracts related to purchases - designated as hedges | — |
| | 210 |
| | — |
| | 210 |
| Foreign currency contracts related to purchases - not designated as hedges | — |
| | 557 |
| | — |
| | 557 |
| Deferred compensation plans | — |
| | 7,154 |
| | — |
| | 7,154 |
| | $ | — |
| | $ | 10,506 |
| | $ | — |
| | $ | 10,506 |
|
There were no transfers in or out of Level One, Two or Three during the three months ended March 29, 2019. |
| Schedule of Foreign Exchange Contracts, Notional Values |
As of March 29, 2019 and December 31, 2018, the Company had foreign currency contracts with the following notional values: | | | | | | | | | | March 29, 2019 | | December 31, 2018 | | (In thousands) | Foreign currency contracts sold - not designated as hedges | $ | 34,404 |
| | $ | 43,510 |
| Foreign currency contracts sold - designated as hedges | 157,577 |
| | 125,011 |
| Foreign currency contracts purchased - not designated as hedges | 74,448 |
| | 75,102 |
| Foreign currency contracts purchased - designated as hedges | 64,441 |
| | 45,211 |
| Total foreign currency derivatives | $ | 330,870 |
| | $ | 288,834 |
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| Schedule of Derivative Instruments, Gain (Loss) in Condensed Consolidated Financial Statements [Table Text Block] |
The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments: | | | | | | | | | | Three Months Ended | | March 29, 2019 | | March 30, 2018 | | (In thousands) | Contracts Designated as Hedges: | | Foreign Currency Contracts - related to customer sales contracts: | | | | Unrealized gain | $ | 1,232 |
| | $ | 2,419 |
| Realized loss | (4,145 | ) | | (792 | ) | Foreign Currency Contracts - related to supplier purchase contracts: | | | | Unrealized (loss) gain | (229 | ) | | 149 |
| Realized gain | 971 |
| | 155 |
| Unrealized gain (loss) on net investment hedges(1) | 5,453 |
| | (7,230 | ) | Contracts Not Designated in a Hedge Relationship: | | | | Foreign Currency Contracts - related to customer sales contracts: | | | | Unrealized (loss) gain | (29 | ) | | 914 |
| Realized (loss) gain | (658 | ) | | 1,147 |
| Foreign Currency Contracts - related to supplier purchases contracts: | | | | Unrealized loss | (355 | ) | | (1,018 | ) | Realized gain (loss) | 267 |
| | (528 | ) |
(1) The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt. |