XML 33 R30.htm IDEA: XBRL DOCUMENT
v2.4.0.8

DERIVATIVES AND RISK MANAGEMENT (Tables) | 3 Months Ended
--- | ---
Apr. 05, 2014
Derivatives |
Schedule of outstanding forward contracts | As of April 5, 2014, 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 |  | 176.5 |  | U.S. Dollar |  | 238.3 |
British Pound |  | 21.0 |  | U.S. Dollar |  | 33.4 |
Canadian Dollar |  | 30.5 |  | U.S. Dollar |  | 28.5 |
Japanese Yen |  | 2,312.0 |  | U.S. Dollar |  | 23.4 |
Australian Dollar |  | 13.2 |  | U.S. Dollar |  | 11.8 |
Mexican Peso |  | 145.7 |  | U.S. Dollar |  | 11.0 |
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 the First Quarter and Prior Year Quarter is set forth below (in thousands):
|  | For the 14 Weeks |  | For the 13 Weeks |
Derivative Contracts |  | Ended |  | Ended |
Under ASC 815 |  | April 5, 2014 |  | March 30, 2013 |
Cash flow hedges: |  |  |  |  |
Foreign exchange forward contracts |  | $ | (348 | ) | $ | 3,345 |
Interest rate swap |  | (538 | ) | 0 |
Net investment hedge |  | 162 |  | 0 |
Total (loss) gain recognized in other comprehensive loss, net of taxes |  | $ | (724 | ) | $ | 3,345 |
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 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 recorded in other comprehensive 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 the First Quarter and Prior Year Quarter (in thousands):
|  | Condensed |  |  |  |  |  |  |
|  | Consolidated |  |  |  |  |  |  |
|  | Statements of Income |  |  |  |  |  |  |
|  | and Comprehensive |  |  |  | For the 14 Weeks |  | For the 13 Weeks |
Derivative Contracts |  | Income |  |  |  | Ended |  | Ended |
Under ASC 815 |  | Location |  |  |  | April 5, 2014 |  | March 30, 2013 |
Foreign exchange contracts designated as cash flow hedging instruments |  | Other (expense) income-net |  | Total loss reclassified from other comprehensive loss |  | $ | (498 | ) | $ | (46 | )
Foreign exchange contracts not designated as hedging instruments |  | Other (expense) income-net |  | Total loss recognized in income |  | $ | (148 | ) | $ | 0 |
Interest rate swap designated as cash flow hedging instruments |  | Interest expense |  | Total loss reclassified from other comprehensive loss |  | $ | (465 | ) | $ | 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 condensed consolidated balance sheets in which the fair value amounts for these categories of derivative instruments are included (in thousands):
|  | Asset Derivatives |  | Liability Derivatives |
|  | April 5, 2014 |  | December 28, 2013 |  | April 5, 2014 |  | December 28, 2013 |
|  | Condensed |  |  |  | Condensed |  |  |  | Condensed |  |  |  | Condensed |  |  |
|  | Consolidated |  |  |  | Consolidated |  |  |  | Consolidated |  |  |  | Consolidated |  |  |
Derivative Contracts Under |  | Balance |  | Fair |  | Balance |  | Fair |  | Balance |  | Fair |  | Balance |  | Fair |
ASC 815 |  | Sheets Location |  | Value |  | Sheets Location |  | Value |  | Sheets Location |  | Value |  | Sheets Location |  | Value |
Foreign exchange contracts designated as cash flow hedging instruments |  | Prepaid expenses and other current assets |  | $ | 2,279 |  | Prepaid expenses and other current assets |  | $ | 3,289 |  | Accrued expenses- other |  | $ | 5,859 |  | Accrued expenses- other |  | $ | 7,651 |
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 |  | 2,617 |  | Accrued expenses- other |  | 2,783 |
Foreign exchange contracts designated as net investment hedges |  | Prepaid expenses and other current assets |  | 255 |  | Prepaid expenses and other current assets |  | 0 |  | Prepaid expenses and other current assets |  | 0 |  | Prepaid expenses and other current assets |  | 0 |
Foreign exchange contracts designated as cash flow hedging instruments |  | Intangible and other assets- net |  | 218 |  | Intangible and other assets- net |  | 219 |  | Other long-term liabilities |  | 185 |  | Other long-term liabilities |  | 563 |
Interest rate contracts designated as cash flow hedging instruments |  | Intangible and other assets- net |  | 3,658 |  | Intangible and other assets- net |  | 4,307 |  | Other long-term liabilities |  | 1,322 |  | Other long-term liabilities |  | 1,693 |
Total |  |  |  | $ | 6,410 |  |  |  | $ | 7,815 |  |  |  | $ | 9,983 |  |  |  | $ | 12,690 |

X
- Details
Name: | us-gaap_DerivativeLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
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/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 Reference 2: 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=7476318&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration