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Financial Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

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		March 31 2016				December 31 2015				March 31 2016				December 31 2015
		Prepaid Expenses and Other								Other
Balance sheet caption		Current Assets								Current Liabilities
Designated as hedging:
Forward foreign currency exchange contracts		$	1,160			$	955			$	1,416			$	1,545
Not designated as hedging:
Forward foreign currency exchange contracts		$	92			$	68			$	—			$	49

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 March 31
In thousands		2016				2015
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold		$	298			$	873
Ineffective portion – other – net			(403	)			350
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net		$	589			$	720

Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss)

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income (loss) is as follows:

In thousands		2016				2015
Balance at January 1,		$	(178	)		$	3,282
Deferred gains on cash flow hedges			307				4,703
Reclassified to earnings			(298	)			(873	)
Balance at March 31,		$	(169	)		$	7,112

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		March 31 2016				December 31 2015
Derivative
Sell/Buy - sell notional
Euro / British Pound			11,370				10,527
Sell/Buy - buy notional
Euro / Philippine Peso			849,340				758,634
British Pound / Philippine Peso			592,719				542,063
Euro / U.S. Dollar			45,323				51,433
U.S. Dollar / Canadian Dollar			35,056				34,649
U.S. Dollar / Euro			23,580				—

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		March 31 2016				December 31 2015
Derivative
Sell/Buy - sell notional
U.S. Dollar / British Pound			7,000				10,000
British Pound / Euro			3,500				3,500
Sell/Buy - buy notional
Euro / U.S. Dollar			7,500				12,500
British Pound / Euro			10,500				13,500

X

- 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=56946850&loc=SL5624171-113959

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- Definition

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+ References

Reference 1: 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=56946850&loc=SL5624171-113959

Reference 2: 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=56946850&loc=SL5618551-113959

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+ 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=56946850&loc=SL5624163-113959

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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=56946850&loc=SL5579245-113959

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