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Derivatives and Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2012
Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments | The recorded amounts and estimated fair values of total debt at December 31, excluding the effects of derivative financial instruments, were as follows:
|  | 2012 |  |  | 2011 |
In thousands |  | Recorded Amount |  |  | Fair Value |  |  | Recorded Amount |  |  | Fair Value |
Variable rate debt |  | $ | 427,706 |  |  | $ | 427,706 |  |  | $ | 406,978 |  |  | $ | 406,978 |
Fixed rate debt |  |  | 2,029,669 |  |  |  | 2,081,264 |  |  |  | 902,109 |  |  |  | 954,053 |
Total debt |  | $ | 2,457,375 |  |  | $ | 2,508,970 |  |  | $ | 1,309,087 |  |  | $ | 1,361,031 |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | Financial assets and liabilities measured at fair value on a recurring basis were as follows:
Recurring fair value measurements |  | December 31, 2012 |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Foreign currency contract assets |  | $ | — |  |  | $ | 2,924 |  |  | $ | — |  |  | $ | 2,924 |
Foreign currency contract liabilities |  |  | — |  |  |  | (551 | ) |  |  | — |  |  |  | (551 | )
Deferred compensation plan assets (1) |  |  | 22,394 |  |  |  | — |  |  |  | — |  |  |  | 22,394 |
Total recurring fair value measurements |  | $ | 22,394 |  |  | $ | 2,373 |  |  | $ | — |  |  | $ | 24,767 |
Nonrecurring fair value measurements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade name intangibles (2) |  | $ | — |  |  | $ | — |  |  | $ | 63,700 |  |  | $ | 63,700 |
Recurring fair value measurements |  | December 31, 2011 |
In thousands |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Foreign currency contract assets |  | $ | — |  |  | $ | 242 |  |  | $ | — |  |  | $ | 242 |
Foreign currency contract liabilities |  |  | — |  |  |  | (341 | ) |  |  | — |  |  |  | (341 | )
Interest rate swap liabilities |  |  | — |  |  |  | (8,034 | ) |  |  | — |  |  |  | (8,034 | )
Deferred compensation plan assets (1) |  |  | 22,987 |  |  |  | — |  |  |  | — |  |  |  | 22,987 |
Total recurring fair value measurements |  | $ | 22,987 |  |  | $ | (8,133 | ) |  | $ | — |  |  | $ | 14,854 |
Nonrecurring fair value measurements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (3) |  | $ | — |  |  | $ | — |  |  | $ | 242,800 |  |  | $ | 242,800 |
| (1) | Deferred compensation plan assets include mutual funds and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees. The fair value of these assets was based on quoted market prices in active markets.
| (2) | In the fourth quarter of 2012, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $60.7 million for trade names intangibles. The fair value of trade names is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital.
| (3) | In the fourth quarter of 2011, we completed our annual goodwill impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $200.5 million in a reporting unit part of Water & Fluid Solutions. The fair value of each reporting unit is determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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