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Financial Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2014
Fair Values of Derivative Instruments | The following table summarizes the fair values of derivative instruments as of December 31 for the year indicated and the line items in the accompanying consolidated balance sheets where the instruments are recorded:
|  | December 31 |  |  | December 31 |
In thousands |  |  | 2014 |  |  |  | 2013 |  |  |  | 2014 |  |  |  | 2013 |
Balance sheet caption |  |  | Prepaid Expenses and Other Current Assets |  |  |  | Other Current Liabilities |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 3,106 |  |  | $ | – |  |  |  | $394 |  |  | $ | 1,163 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 70 |  |  | $ | 36 |  |  |  | $161 |  |  | $ | 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 consolidated statements of income where the results are recorded:
|  | Year ended December 31 |
In thousands |  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Effective portion – cost of products sold |  | $ | (655 | ) |  | $ | (945 | ) |  | $ | 2,183 |
Ineffective portion – other – net |  |  | 184 |  |  |  | 38 |  |  |  | 311 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Other – net |  | $ | 1,599 |  |  | $ | (455 | ) |  | $ | (696 | )
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 |  |  | 3,923 |  |  |  | (1,642 | )
Reclassified to earnings |  |  | 655 |  |  |  | 945 |
Balance at December 31, |  | $ | 3,282 |  |  | $ | (1,296 | )
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:
|  | December 31 |
In thousands |  |  | 2014 |  |  |  | 2013 |
Derivative |  |  | Sell (Buy) Notional |
Sell / Buy |  |  |  |  |  |  |  |
Euro / U.S. dollar |  |  | (32,527 | ) |  |  | (27,105 | )
U.S. dollar / Canadian dollar |  |  | (10,036 | ) |  |  | (13,077 | )
Euro / Philippine peso |  |  | (523,313 | ) |  |  | – |
British Pound / Philippine peso |  |  | (260,535 | ) |  |  | – |
Euro / British Pound |  |  | 4,592 |  |  |  | – |
Not Designated as Hedging [Member] |
Outstanding Derivatives Used to Hedge Foreign Exchange Risks |
|  | December 31 |
In thousands |  |  | 2014 |  |  |  | 2013 |
Derivative |  |  | Sell (Buy) Notional |
Sell / Buy |  |  |  |  |  |  |  |
U.S. dollar / British Pound |  |  | 9,000 |  |  |  | 6,000 |
Euro / British Pound |  |  | (3,000 | ) |  |  | (8,000 | )
Euro / British Pound |  |  | 2,000 |  |  |  | 5,000 |
Canadian dollar / U.S. dollar |  |  | – |  |  |  | 2,000 |
U.S. dollar / Euro |  |  | 4,000 |  |  |  | 2,000 |
Euro / U.S. dollar |  |  | – |  |  |  | 9,000 |

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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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