Derivative Financial Instruments (Tables)

9 Months Ended

Oct. 01, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Fair Values Of The Company's Derivative Instruments And The Line Items On The Consolidated Balance Sheets

The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded as of October 1, 2017 and December 31, 2016 are summarized as follows:



Derivative Assets	Balance Sheet Location	Fair Value at October 1, 2017		Balance Sheet Location	Fair Value at December 31, 2016
		(In thousands)			(In thousands)
Derivative assets not designated as hedging instruments	Prepaid expenses and other current assets	$	1,184	Prepaid expenses and other current assets	$	5,873
Derivative assets designated as hedging instruments	Prepaid expenses and other current assets	1,356		Prepaid expenses and other current assets	2,890
Total		$	2,540		$	8,763



Derivative Liabilities	Balance Sheet Location	Fair Value at October 1, 2017		Balance Sheet Location	Fair Value at December 31, 2016
		(In thousands)			(In thousands)
Derivative liabilities not designated as hedging instruments	Other accrued liabilities	$	5,547	Other accrued liabilities	$	1,002
Derivative liabilities designated as hedging instruments	Other accrued liabilities	6,202		Other accrued liabilities	703
Total		$	11,749		$	1,705

Schedule of Offsetting of Derivative Assets

The following tables set forth the offsetting of derivative assets as of October 1, 2017 and December 31, 2016:



As of October 1, 2017							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of October 1, 2017	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
Bank of America	$	2,038	$	—	$	2,038	$	(2,038	)	$	—	$	—
Wells Fargo	502		—		502		(502		)	—		—
Total	$	2,540	$	—	$	2,540	$	(2,540	)	$	—	$	—



As of December 31, 2016							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of December 31, 2016	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
J.P. Morgan Chase	$	1,492	$	—	$	1,492	$	(442	)	$	—	$	1,050
Wells Fargo	7,271		—		7,271		(1,263		)	—		6,008
Total	$	8,763	$	—	$	8,763	$	(1,705	)	$	—	$	7,058

Schedule of Offsetting of Derivative Liabilities

The following tables set forth the offsetting of derivative liabilities as of October 1, 2017 and December 31, 2016:



As of October 1, 2017							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of October 1, 2017	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
Bank of America	$	11,113	$	—	$	11,113	$	(2,038	)	$	—	$	9,075
Wells Fargo	636		—		636		(502		)	—		134
Total	$	11,749	$	—	$	11,749	$	(2,540	)	$	—	$	9,209



As of December 31, 2016							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
As of December 31, 2016	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts Of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
	(In thousands)
J.P. Morgan Chase	$	442	$	—	$	442	$	(442	)	$	—	$	—
Wells Fargo	1,263		—		1,263		(1,263		)	—		—
Total	$	1,705	$	—	$	1,705	$	(1,705	)	$	—	$	—

Schedule Of Company's Derivative Instruments On Other Comprehensive Income And The Consolidated Statement Of Operations

The pre-tax effects of the Company’s derivative instruments on OCI and the unaudited condensed consolidated statement of operations for the three and nine months ended October 1, 2017 and October 2, 2016 are summarized as follows:



Derivatives Designated as Hedging Instruments	Three Months Ended October 1, 2017
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾			Location of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing	Amount of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(3,538	)	Net revenue	$	(4,401	)	Other income (expense), net	$	528
Foreign currency forward contracts	—			Cost of revenue	19			Other income (expense), net	—
Foreign currency forward contracts	—			Operating expenses	822			Other income (expense), net	—
Total	$	(3,538	)		$	(3,560	)		$	528

_________________________

⁽¹⁾Refer to Note 9, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.



Derivatives Designated as Hedging Instruments	Nine Months Ended October 1, 2017
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾			Location of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing	Amount of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(10,590	)	Net revenue	$	(3,374	)	Other income (expense), net	$	1,196
Foreign currency forward contracts	—			Cost of revenue	5			Other income (expense), net	—
Foreign currency forward contracts	—			Operating expenses	457			Other income (expense), net	—
Total	$	(10,590	)		$	(2,912	)		$	1,196

_________________________

⁽¹⁾Refer to Note 9, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.



Derivatives Designated as Hedging Instruments	Three Months Ended October 2, 2016
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾			Location of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing	Amount of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(417	)	Net revenue	$	(824	)	Other income (expense), net	$	116
Foreign currency forward contracts	—			Cost of revenue	4			Other income (expense), net	—
Foreign currency forward contracts	—			Operating expenses	163			Other income (expense), net	—
Total	$	(417	)		$	(657	)		$	116

_______________________

⁽¹⁾Refer to Note 9, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.



Derivatives Designated as Hedging Instruments	Nine Months Ended October 2, 2016
Derivatives Designated as Hedging Instruments	Gains (Losses) Recognized in OCI - Effective Portion			Location of Gains (Losses) Reclassified from OCI into Income - Effective Portion	Gains (Losses) Reclassified from OCI into Income - Effective Portion⁽¹⁾			Location of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing	Amount of Gains (Losses) Recognized in Income and Excluded from Effectiveness Testing
	(In thousands)
Cash flow hedges:
Foreign currency forward contracts	$	(1,116	)	Net revenue	$	(1,543	)	Other income (expense), net	$	169
Foreign currency forward contracts	—			Cost of revenue	4			Other income (expense), net	—
Foreign currency forward contracts	—			Operating expenses	219			Other income (expense), net	—
Total	$	(1,116	)		$	(1,320	)		$	169

_________________________

⁽¹⁾Refer to Note 9, Stockholders' Equity, which summarizes the accumulated other comprehensive income activity related to derivatives.

Schedule Of Derivatives Not Designated As Hedging Instruments

The effects of the Company’s non-designated hedge included in other income (expense), net in the unaudited condensed consolidated statements of operations for the three and nine months ended October 1, 2017 and October 2, 2016 are as follows:



Derivatives Not Designated as Hedging Instruments	Location of Gains (Losses) Recognized in Income on Derivative	Three Months Ended						Nine Months Ended
Derivatives Not Designated as Hedging Instruments		October 1, 2017			October 2, 2016			October 1, 2017			October 2, 2016
		(In thousands)
Foreign currency forward contracts	Other income (expense), net	$	(1,925	)	$	(493	)	$	(6,171	)	$	(1,252	)