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Financial Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2016

Fair Values of Derivative Instruments

Fair Value Measurements 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   2016				December 31 2015				September 30   2016				December 31 2015
	Prepaid Expenses and Other								Other
Balance sheet caption	Current Assets								Current Liabilities
Designated as hedging:
Forward foreign currency
exchange contracts	$	330			$	955			$	958			$	1,545
Not designated as hedging:
Forward foreign currency
exchange contracts	$	172			$	68			$	136			$	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 September 30								Nine months ended September 30
In thousands			2016				2015				2016				2015
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold			$	(347	)		$	1,972			$	(264	)		$	4,595
Ineffective portion – other – net				(69	)			(184	)			(399	)			104
Not designated as hedging:
Forward foreign currency
exchange contracts:
Other – net			$	332			$	621			$	1,396			$	1,028

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 (losses) gains
on cash flow hedges		(200	)			1,100
Reclassified to earnings		264				(4,595	)
Balance at September 30,	$	(114	)		$	(213	)

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   2016				December 31   2015
Derivative
Sell/Buy - sell notional
Euro / British Pound		7,703				10,527
Sell/Buy - buy notional
Euro / Philippine Peso		733,358				758,634
British Pound / Philippine Peso		408,967				542,063
Euro / U.S. Dollar		42,672				51,433
U.S. Dollar / Canadian Dollar		34,143				34,649
U.S. Dollar / Euro		26,774				—

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   2016				December 31   2015
Derivative
Sell/Buy -  sell notional
U.S. Dollar / British Pound		10,500				10,000
British Pound / Euro		2,500				3,500
Sell/Buy - buy notional
Euro / U.S. Dollar		-				12,500
British Pound / Euro		18,500				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=64837297&loc=SL5624171-113959

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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 4C
-URI http://asc.fasb.org/extlink&oid=64837297&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=64837297&loc=SL5618551-113959

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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=64837297&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=64837297&loc=SL5579245-113959

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