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Financial Derivatives and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2014
Fair Values of Derivative Instruments | The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:
In thousands |  | September 30 2014 |  |  | December 31 2013 |  |  | September 30 2014 |  |  | December 31 2013 |
Balance sheet caption |  | Prepaid Expenses and Other Current Assets |  |  | Other Current Liabilities |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 2,106 |  |  | $ | — |  |  | $ | 166 |  |  | $ | 1,163 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 10 |  |  | $ | 36 |  |  | $ | 73 |  |  | $ | 46 |
Income or (Loss) from Derivative Instruments Recognized in Results of Operations | The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of income where the results are recorded:
|  | Three months ended September 30 |  |  | Nine months ended September 30 |
In thousands |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Effective portion – cost of products sold |  | $ | (137 | ) |  | $ | (384 | ) |  | $ | (1,227 | ) |  | $ | (641 | )
Ineffective portion – other – net |  |  | 81 |  |  |  | 49 |  |  |  | 181 |  |  |  | 74 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other – net |  | $ | 595 |  |  | $ | (348 | ) |  | $ | 1,792 |  |  | $ | (794 | )
Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income | A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income is as follows:
In thousands |  | 2014 |  |  | 2013 |
Balance at January 1, |  | $ | (1,296 | ) |  | $ | (599 | )
Deferred (losses) gains on cash flow hedges |  |  | 2,223 |  |  |  | (778 | )
Reclassified to earnings |  |  | 1,227 |  |  |  | 641 |
Balance at September 30, |  | $ | 2,154 |  |  | $ | (736 | )
Designated as Hedging [Member] |
Outstanding Derivatives Used to Hedge Foreign Exchange Risks | We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:
In thousands |  | September 30 2014 |  |  | December 31 2013 |
Derivative |  | Buy Notional |
Sell / Buy |  |  |  |  |  |  |  |
Euro / U.S. dollar |  |  | 22,631 |  |  |  | 27,105 |
U.S. dollar / Canadian dollar |  |  | 8,124 |  |  |  | 13,077 |
Euro / Philippine peso |  |  | 439,675 |  |  |  | — |
British Pound / Philippine peso |  |  | 243,310 |  |  |  | — |
Euro / British Pound |  |  | 3,358 |  |  |  | — |
Not Designated as Hedging [Member] |
Outstanding Derivatives Used to Hedge Foreign Exchange Risks | The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:
In thousands |  | September 30 2014 |  |  | December 31 2013 |
Derivative |  | Sell (Buy) Notional |
Sell / Buy |  |  |  |  |  |  |  |
U.S. dollar / British Pound |  |  | 11,000 |  |  |  | 6,000 |
Euro / British Pound |  |  | (9,000 | ) |  |  | (8,000 | )
Euro / British Pound |  |  | 2,000 |  |  |  | 5,000 |
Canadian dollar / U.S. dollar |  |  | 2,000 |  |  |  | 2,000 |
U.S. dollar / Euro |  |  | — |  |  |  | 2,000 |
Euro / U.S. dollar |  |  | — |  |  |  | 9,000 |

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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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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959 + Details
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