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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2011
Derivatives  
Schedule of fair value positions of derivative instruments

 

 

Hedge Strategy
   Settlement
Period
   Derivative Instrument
   Notional
   Unit
   Mark-to-
Market Prices
   Mark-to-
Market
 

Fair Value Hedge

   2012   Commodity contracts for firm commitment hedging (long)   778   GAL   0.01   $11

 

   2012   Commodity contracts for firm commitment hedging (short)   1,848   GAL   (0.12)   (219)

 

   2012   Commodity contracts for inventory hedging (short)   54,264   GAL   (0.01)   (552)

 

   2012   Commodity contracts for firm commitment hedging (long)   1   MT   11.00   11

 

   2012   Commodity contracts for inventory hedging (short)   75   MT   (3.19)   (239)
                         

 

                       $(988)
                         

Non-Designated

  

2012

  

Commodity contracts (long)

  
95,925		  
GAL		  
0.02		  
$2,238

 

   2012   Commodity contracts (short)   156,443   GAL   0.00   555

 

   2012   Commodity contracts (long)   4,915   MT   4.11   20,196

 

   2012   Commodity contracts (short)   3,598   MT   (4.10)   (14,750)

 

   2013   Commodity contracts (long)   3,385   GAL   0.11   380

 

   2013   Commodity contracts (short)   7,157   GAL   0.10   720

 

   2013   Commodity contracts (long)   68   MT   (13.93)   (947)

 

   2013   Commodity contracts (short)   19   MT   32.16   611

 

   2014   Commodity contracts (long)   3   MT   (45.33)   (136)

 

   2014   Commodity contracts (short)   6   MT   48.33   290

 

   2012   Foreign currency contracts (long)   3,096   CAD   0.00   13

 

   2012   Foreign currency contracts (short)   15,300   CAD   (0.00)   (57)

 

   2012   Foreign currency contracts (long)   3,551,328   CLP   (0.00)   (16)

 

   2012   Foreign currency contracts (long)   389   EUR   (0.03)   (12)

 

   2012   Foreign currency contracts (short)   11,500   EUR   0.00   27

 

   2012   Foreign currency contracts (long)   11,927   GBP   (0.02)   (193)

 

   2012   Foreign currency contracts (short)   55,834   GBP   0.03   1,676

 

   2012   Foreign currency contracts (long)   163,922   MXN   (0.00)   (56)

 

   2012   Foreign currency contracts (short)   81,028   MXN   0.00   5

 

   2012   Foreign currency contracts (long)   2,800   SGD   0.00   8

 

   2012   Foreign currency contracts (long)   724   AUD   0.01   5

 

   2012   Foreign currency contracts (short)   499   AUD   (0.06)   (29)

 

   2012   Foreign currency contracts (long)   9,500   UYU   0.00   4

 

   2013   Foreign currency contracts (long)   9,230   GBP   (0.05)   (461)

 

   2013   Foreign currency contracts (short)   16,665   GBP   0.06   1,062
                         

 

                       $11,133
                         
Schedule of derivative instruments measured at fair value and their locations on the consolidated balance sheet

 

 

 
    
   As of December 31,
 
   Balance Sheet Location
   2011
   2010
 

Derivative assets:

            
             

Derivatives designated as hedging instruments

            

Commodity contracts

   Other current assets   $257   $439

Commodity contracts

   Other current assets   271   —

Commodity contracts

   Accrued expenses and other current liabilities   22   448
         

 

       550   887
         

Derivatives not designated as hedging instruments

            

Commodity contracts

   Other current assets   58,985   11,296

Commodity contracts

   Accrued expenses and other current liabilities   3,231   2,195

Commodity contracts

   Other current assets   200   —

Commodity contracts

   Non-current other assets   2,065   637

Commodity contracts

   Other long-term liabilities   40   —

Foreign currency contracts

   Other current assets   1,912   369

Foreign currency contracts

   Non-current other assets   1,082   —

Foreign currency contracts

   Accrued expenses and other current liabilities   —   92
         

 

       67,515   14,589
         

       $68,065   $15,476
         

Derivative liabilities:

            
             

Derivatives designated as hedging instruments

            

Commodity contracts

   Other current assets   $766   $229

Commodity contracts

   Accrued expenses and other current liabilities   21   2,853

Commodity contracts

   Other current assets   753   —
         

       1,540   3,082
         

Derivatives not designated as hedging instruments

            

Commodity contracts

   Other current assets   37,709   4,001

Commodity contracts

   Accrued expenses and other current liabilities   16,434   9,519

Commodity contracts

   Other current assets   4   —

Commodity contracts

   Other long-term liabilities   1,213   502

Commodity contracts

   Non-current other assets   2   81

Foreign currency contracts

   Other current assets   413   185

Foreign currency contracts

   Non-current other assets   481   —

Foreign currency contracts

   Accrued expenses and other current liabilities   124   389
         

       56,380   14,677
         

 

       $57,920   $17,759
         
Presents the effect and financial statement location of derivative instruments and related hedged items in fair value hedging relationships on consolidated statements of income

 

 

Derivatives
   Location
   Realized and Unrealized Gain (Loss)
 
        For the year ended December 31,
        2011   2010   2009
         
Commodity contracts   Revenue   $11,608   $10,040   $14,117
Commodity contracts   Cost of revenue   (6,926)   (739)   (13,162)
Commodity contracts   Cost of revenue   (26,039)   (12,563)   (19,269)
         
        $(21,357)   $(3,262)   $(18,314)
         

 

Hedged Items
   Location
   Realized and Unrealized Gain (Loss)
 
        For the year ended December 31,
        2011   2010   2009
         
Firm commitments   Revenue   $(12,973)   $(7,494)   $(14,227)
Firm commitments   Cost of revenue   7,771   (797)   12,193
Inventories   Cost of revenue   38,377   21,419   23,105
         
        $33,175   $13,128   $21,071
         
Presents the effect and financial statement location of derivative instruments in cash flow hedging relationships on accumulated other comprehensive income and consolidated statements of income

 

 

Derivatives
   Unrealized
Gain (Loss)
Recorded in
Accumulated Other
Comprehensive
Income
(Effective Portion)
   Location of Realized
Gain (Loss)
(Effective Portion)
   Realized Gain (Loss)
(Effective Portion)
     
For the year ended December 31,   For the year ended December 31,
    2010   2009       2010   2009
             
Foreign currency contracts   $1,799   $(39)   Revenue   $1,107   $(38)
Foreign currency contracts   —   631   Cost of revenue   —   131
Foreign currency contracts   (81)   1,022   Other (expense) income, net   (81)   47
             
    $1,718   $1,614       $1,026   $140
             
Presents the effect and financial statement location of derivative instruments not designated as hedging instruments on consolidated statements of income

 

 

Derivatives
   Location
   Realized and Unrealized Gain (Loss)
 
        For the year ended December 31,
        2011   2010   2009
         
Commodity contracts   Revenue   $14,283   $4,385   $3,590
Commodity contracts   Cost of revenue   3,137   (1,001)   2,087
Foreign currency contracts   Revenue   1,653   —   —
Foreign currency contracts   Other (expense) income, net   (386)   2,536   1,583
         
        $18,687   $5,920   $7,260