v2.3.0.15
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2011
Derivative Financial Instruments [Abstract] 
Aggregate Notional Principal Amounts Of Outstanding Derivative Instruments Together With Related Balance Sheet Exposure
     Notional principal amounts (Note a)      Balance sheet exposure asset
(liability) (Note b)		  
     As of
December 31,
2010		      As of
September 30,
2011		      As of
December 31,
2010		     As of
September 30,
2011		  

Foreign exchange forward contracts denominated in:

           

United States Dollars (sell) Indian Rupees (buy)

    $ 1,937,497       $ 1,821,100       $ (19,405 )    $ (82,592 ) 

United States Dollars (sell) Mexican Peso (buy)

      14,400         9,600         510        (511 ) 

United States Dollars (sell) Philippines Peso (buy)

      51,950         44,600         2,210        1,319   

Euro (sell) United States Dollars (buy)

      61,426         79,222         953        1,123   

Euro (sell) Hungarian Forints (buy)

      13,408         12,702         341        (228 ) 

Euro (sell) Romanian Leu (buy)

      55,392         58,388         591        (474 ) 

Japanese Yen (sell) Chinese Renminbi (buy)

      66,970         64,634         (6,930 )      (7,211 ) 

Pound Sterling (sell) United States Dollars (buy)

      71,463         90,012         1,680        2,073   

Australian Dollars (sell) United States Dollars (buy)

      58,577         72,485         (6,287 )      61   
        

 

 

    

 

 

  
         $ (26,337 )    $ (86,440 ) 
        

 

 

    

 

 

  

(a) Notional amounts are key elements of derivative financial instrument agreements, but do not represent the amount exchanged by counterparties and do not measure the Company's exposure to credit or market risks. However, the amounts exchanged are based on the notional amounts and other provisions of the underlying derivative financial instruments agreements.
(b) Balance sheet exposure is denominated in U.S. Dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date.
Fair Value Of Derivative Instruments And Location On Financial Statements
     Cash flow      Non-designated  
     As of December 31,
2010		      As of September 30,
2011		      As of December 31,
2010		      As of September 30,
2011		  

Assets

            

Prepaid expenses and other current assets

    $ 10,186       $ 8,658       $ 1,202       $ —     

Other assets

    $ 26,638       $ 4,353       $ —         $ —     

Liabilities

            

Accrued expenses and other current liabilities

    $ 44,577       $ 24,868       $ 58       $ 12,311   

Other liabilities

    $ 19,728       $ 62,272       $ —         $ —     
Summary Of Gains / Losses Recognized In Accumulated Other Comprehensive Income (Loss)

Derivatives in
Cash Flow
Hedging
Relationships

   Amount of Gain (Loss)
recognized in OCI on
Derivatives (Effective
Portion)		    

Location of
Gain (Loss)
reclassified

from
accumulated
OCI into
Statement of
Income
(Effective
Portion)

   Amount of Gain (Loss) reclassified from
Accumulated OCI into
Statement of Income (Effective Portion)		     Location of
Gain (Loss)
recognized
in Income
on
Derivatives
(Ineffective
Portion and
Amount
excluded
from
Effectiveness
Testing)		   Amount of Gain (Loss)
recognized in income on
Derivative (Ineffective Portion
and Amount excluded from
Effectiveness Testing)		  
  Nine months ended
September 30,		       Three months ended
September 30,		     Nine months ended
September 30,		       Three months
ended
September 30,		     Nine months
ended
September 30,		  
    2010      2011       2010     2011     2010     2011       2010     2011     2010      2011  
Forward foreign exchange contracts   $ 10,466       $ (72,060 )    Revenue   $ (1,142 )    $ (3,070 )    $ (3,183 )    $ (7,307 )    Foreign
exchange
(gains)
losses,
net		   $ —        $ —        $ —         $ —     
       Cost of
revenue		     (15,285 )      2,390        (42,049 )      (15,067 )            
       Selling,
general and
administrative
expenses		     (3,286 )      612        (10,403 )      (3,039 )            
 

 

 

     

 

 

      

 

 

    

 

 

    

 

 

    

 

 

      

 

 

    

 

 

    

 

 

     

 

 

  
  $ 10,466       $ (72,060 )      $ (19,713 )    $ (68 )    $ (55,635 )    $ (25,413 )      $ —        $ —        $ —         $ —     
 

 

 

     

 

 

      

 

 

    

 

 

    

 

 

    

 

 

      

 

 

    

 

 

    

 

 

     

 

 

  

 

Non designated Hedges

 

Derivatives not designated as hedging instruments

    Location of (Gain) Loss
recognized in Income  on
Derivatives		    Amount of (Gain) Loss recognized in
Income on Derivatives		  
      Three months ended
September 30,		      Nine months ended
September 30,		  
          2010     2011      2010     2011  

Forward foreign exchange contracts (Note a)

    Foreign exchange
(gains) losses, net		    $ (1,924 )    $ 9,613         (8,243 )      9,610   

Forward foreign exchange contracts (Note b)

    Foreign exchange
(gains) losses, net		      —          —           (234 )      —     
     

 

 

    

 

 

     

 

 

    

 

 

  
      $ (1,924 )    $ 9,613       $ (8,477 )    $ 9,610   
     

 

 

    

 

 

     

 

 

    

 

 

  

(a) These forward foreign exchange contracts were entered into to hedge the fluctuations in foreign exchange rates for recognized balance sheet items such as receivables including forecasted receivables, and inter-company borrowings, and were not originally designated as hedges under FASB guidance on Derivatives and Hedging. Realized (gains) losses and changes in the fair value of these derivatives are recorded in foreign exchange (gains) losses, net in the Consolidated Statements of Income.
(b) These forward foreign exchange contracts were initially designated as cash flow hedges under FASB guidance on Derivatives and Hedging. The net (gains) losses amounts of $(234) and $0 for the nine months ended September 30, 2010 and 2011 respectively, and the net (gains) losses amounts of $0 and $0 for the three months ended September 30, 2010 and 2011 respectively, include the recognition of losses for certain derivative contracts accounted for within accumulated other comprehensive income (loss). These losses were recognized as certain forecasted transactions are no longer expected to occur and therefore hedge accounting is no longer applied. These amounts represent subsequent realized (gains) losses and changes in the fair value of these derivatives and are recorded in foreign exchange (gains) losses, net in the Consolidated Statements of Income.