DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables demonstrate the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2015 and 2014.



		Three Months Ended September 30,
	Income Statement Location	2015			2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive (loss) income		($289	)		($2,537	)
Foreign currency option contracts	Other comprehensive (loss) income	(788		)	(2,227		)
Interest rate swaps	Other comprehensive (loss) income	(13,644		)	—

Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other comprehensive (loss) income	1,151			—
Foreign currency option contracts	Other comprehensive (loss) income	2,084			—

Derivatives not designated as hedging instruments:
Foreign currency option contracts	Other operating (income) expense	847			—
Interest rate swaps	Interest income and miscellaneous (expense), net	(1,650		)	(1,765		)
Fuel hedge contracts	Cost of sales (benefit)	—			(62		)



		Nine Months Ended September 30,
	Income Statement Location	2015			2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive (loss) income		($2,597	)		($1,868	)
Foreign currency option contracts	Other comprehensive (loss) income	(4,127		)	(2,006		)
Interest rate swaps	Other comprehensive (loss) income	(13,644		)	—

Derivatives designated as net investment hedges:
Foreign currency exchange contract	Other comprehensive (loss) income	4,258			—
Foreign currency option contracts	Other comprehensive (loss) income	2,084			—

Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating (income) expense	—			25
Foreign currency option contracts	Other operating (income) expense	1,394			7
Interest rate swaps	Interest and miscellaneous (expense) income, net	4,923			(3,628		)
Fuel hedge contracts	Cost of sales (benefit)	—			163

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets:



	Notional Amount
	September 30, 2015		December 31, 2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts		$25,840		$28,540
Foreign currency option contracts	129,100		79,400
Interest rate swaps	350,000		—

Derivatives designated as net investment hedges:
Foreign currency exchange contract	22,320		27,419
Foreign currency option contracts	308,647		—

Derivative not designated as a hedging instrument:
Interest rate swaps	121,163		161,968

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets:



	Location on Balance Sheet	Fair Value Assets / (Liabilities) (a)
		September 30, 2015			December 31, 2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Prepaid and other current assets		$24			$132
	Other assets	—			59
	Other current liabilities	(2,677		)	(272		)
	Other non-current liabilities	(1,087		)	—
Foreign currency option contracts	Prepaid and other current assets	127			299
	Other assets	218			198
	Other current liabilities	(4,222		)	(1,439		)
	Other non-current liabilities	(907		)	(196		)
Interest rate swaps	Other non-current liabilities	(13,644		)	—

Derivatives designated as net investment hedges:
Foreign currency exchange contract	Prepaid and other current assets	4,035			—
	Other current liabilities	—			(223		)
Foreign currency option contracts	Prepaid and other current assets	3,640			—
	Other current liabilities	(1,556		)	—

Derivative not designated as a hedging instrument:
Interest rate swaps	Other non-current liabilities	(8,733		)	(7,247		)

Total derivative contracts:
Prepaid and other current assets			$7,826			$431
Other assets		218			257
Total derivative assets			$8,044			$688

Other current liabilities		(8,455		)	(1,934		)
Other non-current liabilities		(24,371		)	(7,443		)
Total derivative liabilities			($32,826	)		($9,377	)


(a)	See Note 10 — Fair Value Measurements for further information on the fair value of the Company’s derivatives including their classification within the fair value hierarchy.