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DERIVATIVES AND RISK MANAGEMENT (Tables)

9 Months Ended

Sep. 29, 2012

Derivatives

Schedule of outstanding forward contracts

As of September 29, 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		156,025		U.S. Dollar		203,933
British Pound		17,510		U.S. Dollar		27,658
Japanese Yen		2,056,700		U.S. Dollar		25,923
Mexican Peso		133,680		U.S. Dollar		9,850
Australian Dollar		10,680		U.S. Dollar		10,847
Canadian Dollar		22,310		U.S. Dollar		22,107

As of September 29, 2012, the Company had the following outstanding forward contracts not designated as hedging instruments (in thousands):

Functional Currency				Contract Currency
Type		Amount		Type		Amount
Euro		30,000		U.S. Dollar		39,338

Schedule of effective portion of gains and losses on derivative instruments recognized in other comprehensive income (loss), net of taxes

Derivatives Designated as Cash Flow Hedges Under ASC 815		For the 13 Weeks Ended September 29, 2012			For the 13 Weeks Ended October 1, 2011
Foreign exchange forward contracts		$	(121	)	$	8,444
Total (loss) gain recognized in other comprehensive income (loss), net of taxes		$	(121	)	$	8,444

Derivatives Designated as Cash Flow Hedges Under ASC 815		For the 39 Weeks Ended September 29, 2012			For the 39 Weeks Ended October 1, 2011
Foreign exchange forward contracts		$	3,090		$	(4,685	)
Total gain (loss) recognized in other comprehensive income (loss), net of taxes		$	3,090		$	(4,685	)

Schedule of effective portion of gains and losses on derivative instruments recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings

Foreign Exchange Forward Contracts Under ASC 815		Condensed Consolidated Statements of Comprehensive Income Location				For the 13 Weeks Ended September 29, 2012			For the 13 Weeks Ended October 1, 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		$	1,862		$	(3,541	)

Foreign Exchange Forward Contracts Under ASC 815		Condensed Consolidated Statements of Comprehensive Income Location				For the 39 Weeks Ended September 29, 2012			For the 39 Weeks Ended October 1, 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		$	4,165		$	(9,800	)

Schedule of fair value amounts for derivative instruments as separate asset and liability values on a gross basis and their location on condensed consolidated balance sheets

Asset Derivatives

Liability Derivatives

September 29, 2012

December 31, 2011

September 29, 2012

December 31, 2011

Foreign Exchange

Condensed

Consolidated

Condensed

Consolidated

Contracts Under

Consolidated Balance

Fair

Balance Sheet

Fair

Consolidated Balance

Fair

Balance Sheet

Fair

ASC 815

Sheet Location

Value

Location

Value

Sheet Location

Value

Location

Value

Cash flow hedging instruments

Prepaid expenses and other current assets

$

4,924

Prepaid expenses and other current assets

$

9,719

Accrued expenses- other

$

3,571

Accrued expenses- other

$

3,204

Cash flow hedging instruments

Intangible and other assets- net

208

Intangible and other assets- net

895

Other long-term liabilities

769

Other long-term liabilities

382

Total

$

5,132

$

10,614

$

4,340

$

3,586

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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