DERIVATIVES AND RISK MANAGEMENT (Tables)

9 Months Ended

Oct. 04, 2014

Schedule of outstanding forward contracts

As of October 4, 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	183.9	U.S. dollar	247.8
British pound	29.0	U.S. dollar	47.6
Canadian dollar	35.6	U.S. dollar	32.6
Japanese yen	2,705.0	U.S. dollar	26.5
Australian dollar	16.9	U.S. dollar	15.4
Mexican peso	202.1	U.S. dollar	15.2

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 Third Quarter, Prior Year Quarter, Year To Date Period and Prior Year YTD Period is set forth below (in thousands):

Derivative Contracts Under ASC 815	For the 13 Weeks Ended October 4, 2014			For the 13 Weeks Ended September 28, 2013
Cash flow hedges:
Foreign exchange forward contracts	$	12,411		$	(4,733	)
Interest rate swap	(58		)	(922		)
Net investment hedge	0			0
Total gain (loss) recognized in other comprehensive income (loss), net of taxes	$	12,353		$	(5,655	)

Derivative Contracts Under ASC 815	For the 40 Weeks Ended October 4, 2014			For the 39 Weeks Ended September 28, 2013
Cash flow hedges:
Foreign exchange forward contracts	$	10,424		$	1,055
Interest rate swap	(1,174		)	(922		)
Net investment hedge	257			0
Total gain recognized in other comprehensive income (loss), net of taxes	$	9,507		$	133

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 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 the Third Quarter, Prior Year Quarter, Year To Date Period, and Prior Year YTD Period (in thousands):

	Condensed
	Consolidated		For the 13			For the 13
	Statements of Income		Weeks Ended			Weeks Ended
Derivative Contracts	and Comprehensive		October 4,			September 28,
Under ASC 815	Income Location		2014			2013

Foreign exchange contracts designated as cash flow hedging instruments	Other income-net	Total gain reclassified from other comprehensive income (loss)	$	1,012		$	326

Interest rate swap designated as a cash flow hedging instrument	Interest expense	Total loss reclassified from other comprehensive income (loss)	$	(432	)	$	(290	)

	Condensed
	Consolidated		For the 40			For the 39
	Statements of Income		Weeks Ended			Weeks Ended
Derivative Contracts	and Comprehensive		October 4,			September 28,
Under ASC 815	Income Location		2014			2013

Foreign exchange contracts designated as cash flow hedging instruments	Other income-net	Total (loss) gain reclassified from other comprehensive income (loss)	$	(519	)	$	1,124

Foreign exchange contracts not designated as hedging instruments	Other income-net	Total loss recognized in income	$	(148	)	$	(74	)

Interest rate swap designated as a cash flow hedging instrument	Interest expense	Total loss reclassified from other comprehensive income (loss)	$	(1,335	)	$	(290	)

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

October 4, 2014

December 28, 2013

October 4, 2014

December 28, 2013

Condensed

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

20,016

Prepaid expenses and other current assets

3,289

Accrued expenses-other

198

Accrued expenses-other

7,651

Interest rate swap designated as a cash flow hedging instrument

Prepaid expenses and other current assets

Accrued expenses-other

2,382

Accrued expenses-other

2,783

Foreign exchange contracts designated as cash flow hedging instruments

Intangible and other assets- net

2,920

Intangible and other assets- net

219

Other long-term liabilities

563

Interest rate swap designated as a cash flow hedging instrument

Intangible and other assets- net

2,965

Intangible and other assets- net

4,307

Other long-term liabilities

496

Other long-term liabilities

1,693

Total

25,901

7,815

3,076

12,690