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DERIVATIVES AND RISK MANAGEMENT (Details) $ in Thousands, € in Millions, ¥ in Millions, £ in Millions, MXN in Millions, CAD in Millions, AUD in Millions |  | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | ---
Mar. 20, 2015 | Jul. 04, 2015 USD ($) | Jul. 05, 2014 USD ($) | Jul. 04, 2015 USD ($) | Jul. 05, 2014 USD ($) | Jul. 04, 2015 MXN | Jul. 04, 2015 JPY (¥) | Jul. 04, 2015 GBP (£) | Jul. 04, 2015 EUR (€) | Jul. 04, 2015 CAD | Jul. 04, 2015 AUD | Jul. 04, 2015 USD ($) | Mar. 09, 2015 USD ($)
DERIVATIVES AND RISK MANAGEMENT |  |  |  |  |  |  |  |  |  |  |  |  |
Maximum period of future intercompany purchases |  |  |  | 24 months |  |  |  |  |  |  |  |  |
Forecasted purchases to manage fluctuations (as a percent) |  |  |  |  |  | 85.00% | 85.00% | 85.00% | 85.00% | 85.00% | 85.00% | 85.00% |
Hedges resulted ineffectiveness |  | $ 0 | $ 0 | $ 0 | $ 0 |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Gains or losses reclassified into earnings |  | 54,648 | 52,517 | 92,718 | 118,860 |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Term of interest rate swap agreement | 10 years |  |  |  |  |  |  |  |  |  |  |  |
Derivatives Designated as Cash Flow Hedges | Amount Reclassified from AOCI |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Gains or losses reclassified into earnings |  | 0 | 0 | 0 | 0 |  |  |  |  |  |  |  |
U.S. term loan |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  |  |  |  |  |  |  |  | $ 231,300
Forward contracts | Net Investment Hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged amount | € |  |  |  |  |  |  |  |  | € 25.0 |  |  |  |
Forward contracts | Designated as cash flow hedges | Euro |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  |  |  | € 209.3 |  |  | $ 250,200 |
Forward contracts | Designated as cash flow hedges | British pound |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  |  | £ 41.9 |  |  |  | 65,900 |
Forward contracts | Designated as cash flow hedges | Canadian dollar |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  |  |  |  | CAD 51.5 |  | 42,900 |
Forward contracts | Designated as cash flow hedges | Japanese yen |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  | ¥ 3,788.1 |  |  |  |  | 32,700 |
Forward contracts | Designated as cash flow hedges | Mexican peso |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  | MXN 306.6 |  |  |  |  |  | 19,900 |
Forward contracts | Designated as cash flow hedges | Australian dollar |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Notional amount |  |  |  |  |  |  |  |  |  |  | AUD 19.0 | $ 14,700 |
Forward contracts | Not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Total gain recognized in income |  | $ (9) | $ 0 | $ 80 | $ (148) |  |  |  |  |  |  |  |
Interest rate swap | Designated as cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Term of interest rate swap agreement |  |  |  | 5 years |  |  |  |  |  |  |  |  |
Fixed interest rate swap (as a percent) |  |  |  |  |  | 1.288% | 1.288% | 1.288% | 1.288% | 1.288% | 1.288% | 1.288% |
Description of base rate |  |  |  | 1-month London Interbank Offer Rate ("LIBOR") based variable rate |  |  |  |  |  |  |  |  |
Total gain recognized in income |  |  |  | $ 3,300 |  |  |  |  |  |  |  |  |
S Keren Watch Group (SKWG) | Forward contracts | Not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of derivative |  |  |  |  |  |  |  |  |  |  |  | $ 100 |
Consolidated leverage ratio (the Ratio) less than 1.00 to 1.00 | Interest rate swap | Designated as cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Applicable margin based on the Company's consolidated leverage ratio (as a percent) |  |  |  | 1.25% |  |  |  |  |  |  |  |  |
Consolidated leverage ratio used to calculate variable rate of debt (as a percent) |  |  |  |  |  | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
Consolidated leverage ratio (the Ratio) greater than 2.00 to 1.00 | Interest rate swap | Designated as cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |
Applicable margin based on the Company's consolidated leverage ratio (as a percent) |  |  |  | 2.00% |  |  |  |  |  |  |  |  |
Consolidated leverage ratio used to calculate variable rate of debt (as a percent) |  |  |  |  |  | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |

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