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FAIR VALUE OF FINANCIAL INSTRUMENT
 9 Months Ended
Sep. 30, 2012
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENT
13.
 FAIR VALUE OF FINANCIAL INSTRUMENTS
 
For assets and liabilities measured at fair value on a recurring and nonrecurring basis, a three-level hierarchy of measurements based upon observable and unobservable inputs is used to arrive at fair value. Observable inputs are developed based on market data obtained from independent sources, while unobservable inputs reflect our assumptions about valuation based on the best information available in the circumstances. Depending on the inputs, we classify each fair value measurement as follows:
 
Level 1—based upon quoted prices for identical instruments in active markets,
 
Level 2—based upon quoted prices for similar instruments, prices for identical or similar instruments in markets that are not active, or model-derived valuations, all of whose significant inputs are observable, and
 
Level 3—based upon one or more significant unobservable inputs.
   
The carrying values of cash and temporary investments, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of their fair values because of the short maturity of these financial instruments.  The carrying values of long-term obligations are reasonable estimates of their fair values based on the rates available for obligations with similar terms and maturities.
 
The fair value of derivative assets and liabilities are measured assuming that the unit of account is an individual derivative transaction and that each derivative could be sold or transferred on a stand-alone basis. We classify within Level 2 our forward foreign currency exchange contracts based upon quoted prices for similar instruments that are actively traded.  For more information regarding derivatives, see Note 14, Derivative Financial Instruments.
 
The following table presents the financial instruments measured at fair value on a recurring basis (in thousands):
                         
   
September 30, 2012
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Current Assets
                        
Derivative financial instruments
                        
 Foreign currency contracts
   $ —     $ 135     $ —     $ 135  
Total assets
   $ —     $ 135     $ —     $ 135  
Current Liabilities
                                
Derivative financial instruments
                                
 Foreign currency contracts
   $ —     $ 135   $ —     $ 135
Total liabilities
   $ —     $ 135   $ —     $ 135
                                 
   
December 31, 2011
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Current Assets
                                
Derivative financial instruments
                                
 Foreign currency contracts
   $ —     $ 43     $ —     $ 43  
Total assets
   $ —     $ 43     $ —     $ 43  
Current Liabilities
                                
Derivative financial instruments
                                
 Foreign currency contracts
   $ —     $ —     $ —     $ —  
Total liabilities
   $ —     $ —     $ —     $ —