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Derivatives and Risk Management (Tables)

12 Months Ended

Dec. 28, 2013

Derivatives

Schedule of outstanding forward contracts

As of December 28, 2013, the Company had the following outstanding forward contracts that were entered into to hedge the future payments of intercompany inventory transactions (in millions):

Functional Currency					Contract Currency
Type		Amount			Type		Amount
Euro			157.3		U.S. Dollar			209.8
British Pound			20.5		U.S. Dollar			32.2
Canadian Dollar			28.7		U.S. Dollar			27.6
Japanese Yen			2,160.0		U.S. Dollar			22.6
Mexican Peso			208.2		U.S. Dollar			16.0
Australian Dollar			9.9		U.S. Dollar			9.0

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

The effective portion of gains and losses on derivative instruments that was recognized in other comprehensive income (loss), net of taxes during fiscal years 2013 and 2012 was (in thousands):

Derivatives Designated as Cash Flow Hedges Under ASC 815		For the Fiscal Year Ended December 28, 2013			For the Fiscal Year Ended December 29, 2012
Foreign exchange forward contracts		$	(1,391	)	$	426
Interest rate swap			(1,031	)		0
​	​	​	​	​	​	​	​
Total (loss) gain recognized in other comprehensive income (loss) net of taxes		$	(2,422	)	$	426
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Schedule of effective portion of gains and losses on derivative instruments designated and qualifying as cash flow hedges recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings and gains and losses on derivatives not designated as hedging instruments recorded

The following table illustrates the effective portion of gains and losses on derivative instruments designated and qualifying as cash flow hedges recorded in other comprehensive income (loss), net of taxes during the term of the hedging relationship and reclassified into earnings, and gains and losses on derivatives not designated as hedging instruments recorded directly to earnings during fiscal years 2013 and 2012 (in thousands):

Derivative Contracts Under ASC 815		Consolidated Statements of Comprehensive Income Location				For the Fiscal Year Ended December 28, 2013			For the Fiscal Year Ended December 29, 2012
Foreign exchange contracts designated as cash flow hedging instruments		Other income (expense)—net		Total (loss) gain reclassified from other comprehensive income		$	(246	)	$	5,045
​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
Foreign exchange contracts not designated as hedging instruments		Other income (expense)—net		Total gain recognized in income		$	567		$	527
​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
Interest rate swap designated as cash flow hedging instruments		Interest expense		Total loss reclassified from other comprehensive income		$	(925	)	$	0
​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​

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

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 Company's consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):

		Asset Derivatives										Liability Derivatives
		December 28, 2013					December 29, 2012					December 28, 2013					December 29, 2012
Derivative Contracts Under ASC 815		Consolidated Balance Sheets Location		Fair Value			Consolidated Balance Sheets Location		Fair Value			Consolidated Balance Sheets Location		Fair Value			Consolidated Balance Sheets Location		Fair Value
Foreign exchange contracts designated as cash flow hedging instruments		Prepaid expenses and other current assets		$	3,289		Prepaid expenses and other current assets		$	2,336		Accrued expenses—other		$	7,651		Accrued expenses—other		$	4,560
Interest rate contracts designated as cash flow hedging instruments		Prepaid expenses and other current assets			0		Prepaid expenses and other current assets			0		Accrued expenses—other			2,783		Accrued expenses—other			0
Foreign exchange contracts designated as cash flow hedging instruments		Intangible and other assets—net			219		Intangible and other assets—net			240		Other long-term liabilities			563		Other long-term liabilities			582
Interest rate contracts designated as cash flow hedging instruments		Intangible and other assets—net			4,307		Intangible and other assets—net			0		Other long-term liabilities			1,693		Other long-term liabilities			0
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total				$	7,815				$	2,576				$	12,690				$	5,142
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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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-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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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 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=7476318&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

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

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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

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