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Financial Instruments And Concentration Of Credit Risk | 12 Months Ended
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Dec. 31, 2015
Financial Instruments And Concentration Of Credit Risk [Abstract] |
Financial Instruments And Concentration Of Credit Risk [Text Block] | Note 11—Financial Instruments and Concentration of Credit Risk The carrying amounts of cash equivalents, accounts and other receivables, accounts payable, accrued liabilities and capital lease and long-term debt obligations and derivative instruments approximate fair value. As of December 31, 2015, the Company’s investments are recorded at fair value. See Note 1(e). The Company uses derivative instruments to manage the variability of foreign currency obligations and interest r ates. The Company does not enter into derivatives for speculative purposes. The forward contracts in place as of December 31, 2015 have not been designated as accounting hedges and, therefore, changes in fair value are recorded within our Consolidated Statements of Income. These foreign currency exchange contracts are not significant as of December 31, 2015. Effective December 31, 2015, we entered into an interest rate swap agreement with a notional amount of $172.5 million to hedge a portion of ou r interest rate exposure on the outstanding borrowings under our Credit Agreement. Under this interest rate swap agreement, we receive variable rate interest rate payments based on the one-month LIBOR rate and pay fixed rate interest payments. The fixed in terest rate for the contract is 1.4935%. The effect of this swap is to convert a portion of our floating rate interest expense to fixed interest rate expense. Based on the terms of the interest rate swap contract and the underlying borrowings outstanding u nder the Credit Agreement, the interest rate contract was determined to be effective, and thus qualifies as a cash flow hedge. As such, any changes in the fair value of the interest rate swap are recorded in other comprehensive income on the accompanying c onsolidated balance sheets until earnings are affected by the variability of cash flows. The fair value of the interest rate swap was $0 as of December 31, 2015 which was its effective date. Financial instruments that subject the Company to credit risk co nsist of cash and cash equivalents, investments and trade accounts receivable. Management maintains the majority of the Company’s cash and cash equivalents with financial institutions. One of the most significant credit risks is the ultimate realization of accounts receivable. This risk is mitigated by (i) sales to well established companies, (ii) ongoing credit evaluation of customers, and (iii) frequent contact with customers, thus enabling management to monitor current changes in business operations and to respond accordingly. Management considers these concentrations of credit risks in establishing our allowance for doubtful accounts and believes these allowances are adequate. The Company had two customers whose gross accounts receivable exceeded 10% of total gross accounts receivable as of December 31, 2015. Our largest customer represented 17% of our total gross accounts receivable and our second largest customer represented 12%.

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