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Financial Derivatives and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2018
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 | March 31 2018 |  |  | December 31 2017 |  |  | March 31 2018 |  |  | December 31 2017 |
| Prepaid Expenses and Other |  |  | Other |
Balance sheet caption | Current Assets |  |  | Current Liabilities |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
exchange contracts | $ | 138 |  |  | $ | 1,066 |  |  | $ | 5,955 |  |  | $ | 4,787 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
exchange contracts | $ | 276 |  |  | $ | 151 |  |  | $ | 147 |  |  | $ | 43 |
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 |  |  | 2018 |  |  | 2017 |  |
Designated as hedging: |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |
Effective portion – cost of products sold |  |  | $ | (1,959 | ) |  | $ | 931 |  |
Ineffective portion – other – net |  |  |  | (322 | ) |  |  | 50 |  |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |
Forward foreign currency |  |  |  |  |  |  |  |  |  |
exchange contracts: |  |  |  |  |  |  |  |  |  |
Other – net |  |  | $ | 297 |  |  | $ | 21 |  |
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 | 2018 |  |  | 2017 |
Balance at January 1, | $ | (5,640 | ) |  | $ | 1,882 |
Deferred (losses) gains |  |  |  |  |  |  |
on cash flow hedges |  | (4,344 | ) |  |  | (303 | )
Reclassified to earnings |  | 1,959 |  |  |  | (931 | )
Balance at March 31, | $ | (8,025 | ) |  | $ | 648 |
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 2018 |  |  | December 31 2017 |
Derivative |  |  |  |  |  |  |
Sell/Buy - sell notional |  |  |  |  |  |  |
Philippine Peso / British Pound |  | — |  |  |  | 19,047 |
Euro / British Pound |  | 12,887 |  |  |  | 13,586 |
Euro / U.S. Dollar |  | — |  |  |  | 1,048 |
U.S. Dollar / Euro |  | 248 |  |  |  | 946 |
Sell/Buy - buy notional |  |  |  |  |  |  |
Euro / Philippine Peso |  | 902,076 |  |  |  | 890,096 |
British Pound / Philippine Peso |  | 785,659 |  |  |  | 797,496 |
U.S. Dollar / Euro |  | 1,390 |  |  |  | 4,253 |
Euro / U.S. Dollar |  | 64,098 |  |  |  | 60,519 |
U.S. Dollar / Canadian Dollar |  | 32,152 |  |  |  | 32,265 |
British Pound / Euro |  | — |  |  |  | 335 |
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 2018 |  |  | December 31 2017 |
Derivative |  |  |  |  |  |  |
Sell/Buy - sell notional |  |  |  |  |  |  |
U.S. Dollar / Euro |  | - |  |  |  | - |
U.S. Dollar / British Pound |  | 17,500 |  |  |  | 17,500 |
British Pound / Euro |  | 1,000 |  |  |  | 1,000 |
Canadian / U.S. dollar |  | 2,500 |  |  |  | - |
Sell/Buy - buy notional |  |  |  |  |  |  |
Euro / U.S. Dollar |  | 4,000 |  |  |  | 4,500 |
British Pound / Euro |  | 9,000 |  |  |  | 13,000 |

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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=84234895&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 4C -URI http://asc.fasb.org/extlink&oid=84234895&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=84234895&loc=SL5618551-113959 + Details
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