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DERIVATIVES AND RISK MANAGEMENT (Tables)
 6 Months Ended
Jun. 30, 2012
Schedule Of Foreign Currency Forward Hedge Contracts

counterparties that would allow for net settlement. As of June 30, 2012, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in thousands):

 

Functional Currency

     

Contract Currency

  

Type

    Amount     

Type

    Amount  

Euro

      149,025       U.S. Dollar      198,179   

British Pound

      16,600       U.S. Dollar      26,219   

Japanese Yen

      2,297,700       U.S. Dollar      28,512   

Mexican Peso

      159,663       U.S. Dollar      11,750   

Australian Dollar

      10,150       U.S. Dollar      10,197   

Canadian Dollar

      20,070       U.S. Dollar      19,908   
Schedule Of Foreign Exchange Contracts Recognized In AOCI

The effective portion of gains and losses on derivative instruments that was recognized in other comprehensive (loss) income, net of taxes during the Second Quarter and the Prior Year Quarter, Year To Date Period and the Prior Year YTD Period is set forth below (in thousands):

 

Derivatives Designated as Cash

Flow Hedges Under ASC 815

   For the 13 Weeks Ended
June 30, 2012		     For the 13 Weeks Ended
July 2, 2011		  

Foreign exchange forward contracts

   $ 3,708      $ (6,036 ) 
 

 

 

    

 

 

  

Total gain (loss) recognized in other comprehensive (loss) income, net of taxes

   $ 3,708      $ (6,036 ) 
 

 

 

    

 

 

  

 

Derivatives Designated as Cash

Flow Hedges Under ASC 815

    For the 26 Weeks Ended
June 30, 2012		      For the 26 Weeks Ended
July 2, 2011		  

Foreign exchange forward contracts

    $ 3,211       $ (13,129 ) 
  

 

 

     

 

 

  

Total gain (loss) recognized in other comprehensive (loss) income, net of taxes

    $ 3,211       $ (13,129 ) 
  

 

 

     

 

 

  
Schedule Of Effective Portion Of Gains And Losses On Derivative Instruments Designated And Qualifying As Cash Flow Hedges

The following table illustrates the effective portion of gains and losses on derivative instruments recorded in other comprehensive (loss) income, net of taxes during the term of the hedging relationship and reclassified into earnings during the Second Quarter, Prior Year Quarter, Year To Date Period, and Prior Year YTD Period (in thousands):

 

Foreign Exchange Forward

Contracts Under ASC 815

   

Condensed
Consolidated
Statements of
Comprehensive
Income
Location

         For the 13 Weeks Ended
June 30, 2012		      For the 13 Weeks Ended
July 2, 2011		  

Cash flow hedging instruments

   

Other income (expense) -net

   

Total gain/(loss) reclassified from other comprehensive income (loss), net of taxes into income, net of taxes

      
         $ 1,451       $ (4,013 ) 
        

 

 

     

 

 

  

 

Foreign Exchange Forward

Contracts Under ASC 815

   

Condensed
Consolidated
Statements of
Comprehensive
Income Location

         For the 26 Weeks Ended
June 30, 2012		      For the 26 Weeks Ended
July 2, 2011		  

Cash flow hedging instruments

    Other income (expense) - net   

Total gain/(loss) reclassified from other comprehensive income (loss), net of taxes into income, net of taxes

      
         $ 2,303       $ (6,259 ) 
        

 

 

     

 

 

  
Schedule Of Fair Value Of Balance Sheet Derivatives

The following table discloses the fair value amounts for the Company’s derivative instruments as separate asset and liability values, presents the fair value of derivative instruments on a gross basis, and identifies the line items in the condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):

 

    

Asset Derivatives

     

Liability Derivatives

  
    

June 30, 2012

     

December 31, 2011

     

June 30, 2012

     

December 31, 2011

  

Foreign exchange
contracts under
ASC 815

   

Condensed
Consolidated Balance
Sheet Location

    Fair
Value		     

Consolidated
Balance Sheet
Location

    Fair
Value		     

Condensed
Consolidated Balance
Sheet Location

    Fair
Value		     

Consolidated

Balance Sheet
Location

    Fair
Value		  

Cash flow hedging instruments

   

Prepaid expenses and other current assets

    $ 9,571      

Prepaid expenses and other current assets

    $ 9,719      

Accrued expenses- other

    $ 1,235      

Accrued expenses- other

    $ 3,204   

Cash flow hedging instruments

   

Intangible and other assets-net

      790      

Intangible and other assets-net

      895      

Other long-term liabilities

      129      

Other long-term liabilities

      382   
     

 

 

        

 

 

        

 

 

        

 

 

  

Total

       $ 10,361          $ 10,614          $ 1,364          $ 3,586