XML 68 R44.htm IDEA: XBRL DOCUMENT
v3.19.3

Financial Derivatives and Hedging Activities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
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 2019 |  |  | December 31 2018 |  |  | September 30 2019 |  |  | December 31 2018 |
|  | Prepaid Expenses and Other |  |  | Other |
Balance sheet caption |  | Current Assets |  |  | Current Liabilities |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 7,679 |  |  | $ | 4,381 |  |  | $ | 220 |  |  | $ | 1,548 |
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | $ | 343 |  |  | $ | 103 |  |  | $ | 320 |  |  | $ | 122 |
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 |  |  |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Effective portion – cost of products sold |  |  |  | $ | 1,738 |  |  | $ | (1,344 | ) |  | $ | 3,783 |  |  | $ | (4,939 | )
Ineffective portion – other – net |  |  |  |  | — |  |  |  | 207 |  |  |  | — |  |  |  | (5 | )
Not designated as hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other – net |  |  |  | $ | (511 | ) |  | $ | (477 | ) |  | $ | (483 | ) |  | $ | (1,078 | )
Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss) Before Taxes | A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income (loss), before taxes, is as follows:
In thousands |  | 2019 |  |  | 2018 |
Balance at January 1, |  | $ | 3,004 |  |  | $ | (5,640 | )
Deferred gains on cash flow hedges |  |  | 10,020 |  |  |  | 1,142 |
Reclassified to earnings |  |  | (3,783 | ) |  |  | 4,939 |
Balance at September 30, |  | $ | 9,241 |  |  | $ | 441 |
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, 2019 |  |  | December 31, 2018 |
Derivative |  |  |  |  |  |  |  |
Sell/Buy - sell notional |  |  |  |  |  |  |  |
Philippine Peso / British Pound |  |  | — |  |  |  | 13,140 |
Philippine Peso / Euro |  |  | 6,784 |  |  |  | 16,446 |
Euro / British Pound |  |  | 17,428 |  |  |  | 15,250 |
U.S. Dollar / Euro |  |  | 6,859 |  |  |  | 88 |
U.S. Dollar / Canadian Dollar |  |  | 1,850 |  |  |  | — |
Sell/Buy - buy notional |  |  |  |  |  |  |  |
Euro / Philippine Peso |  |  | 889,778 |  |  |  | 1,069,006 |
British Pound / Philippine Peso |  |  | 1,083,507 |  |  |  | 980,137 |
Euro / U.S. Dollar |  |  | 87,872 |  |  |  | 76,417 |
U.S. Dollar / Canadian Dollar |  |  | 34,934 |  |  |  | 35,154 |
Canadian Dollar / U.S. Dollar |  |  | 1,850 |  |  |  | — |
British Pound / Euro |  |  | — |  |  |  | 216 |
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, 2019 |  |  | December 31, 2018 |
Derivative |  |  |  |  |  |  |  |
Sell/Buy - sell notional |  |  |  |  |  |  |  |
U.S. Dollar / British Pound |  |  | 26,000 |  |  |  | 25,500 |
British Pound / Euro |  |  | 3,000 |  |  |  | 2,000 |
Sell/Buy - buy notional |  |  |  |  |  |  |  |
Euro / U.S. Dollar |  |  | 12,000 |  |  |  | 11,000 |
British Pound / Euro |  |  | 9,000 |  |  |  | 8,000 |

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |