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Derivative Financial Instruments
 6 Months Ended
Jun. 30, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments [Text Block]
8. Derivative Financial Instruments
 
The effects of derivative instruments on our consolidated financial statements were as follows for the three and six months ended June 30, 2011 and June 30, 2010 (in thousands) (amounts presented exclude any income tax effects and have not been adjusted for the amount attributable to the noncontrolling interest):
 
 Effects of Derivative Instruments on Income and Other Comprehensive Income (Loss)

     
Three Months Ended 
June 30,
 
Six Months Ended 
June 30,
 
Consolidated Statements of Operations Location
 
2011
 
2010
 
2011
 
2010
 
  
   
gain (loss)
 
gain (loss)
 
gain (loss)
 
gain (loss)
 
Derivative not designated as hedging instrument:
   
 
 
 
 
         
Commodity contract
Net Sales
  $ —   $ —   $ (532 ) $ 230  
Derivative designated as hedging instrument:
  
                         
Interest rate contract
Interest expense
    —     —     —     (197 )
  
Net amount recognized in earnings
  $ —   $ —   $ (532 ) $ 33  
 
Effective January 1, 2008, the Company adopted the framework for measuring fair value and the expanded disclosures about fair value measurements. In accordance with these provisions, we have categorized our financial assets and liabilities, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
 
Financial assets and liabilities recorded on the Company’s consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
 
Level 1 — Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access at the measurement date. We currently do not have any Level 1 financial assets or liabilities.
 
Level 2 — Financial assets and liabilities whose values are based on quoted prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets. Level 2 inputs include the following:
 
 
·
Quoted prices for identical or similar assets or liabilities in non-active markets (examples include corporate and municipal bonds which trade infrequently);

 
·
Inputs other than quoted prices that are observable for substantially the full term of the asset or liability (examples include interest rate and currency swaps); and

 
·
Inputs that are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability (examples include certain securities and derivatives).
 
We currently do not have any Level 2 financial assets or liabilities.
 
Level 3 — Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset or liability. We currently do not have any Level 3 financial assets or liabilities.