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Financial Instruments and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2012
Fair Value Disclosures [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The notional amounts and fair values of derivative instruments in the condensed consolidated balance sheets are as follows:

 

        Prepaid expenses and other       
        current assets / other  Accrued expenses and other 
  Notional amounts (A)  long-term assets  current liabilities 
  June 30,  December 31,  June 30,  December 31,  June 30,  December 31, 
  2012  2011  2012  2011  2012  2011 
Derivatives designated as hedging                        
instruments:                        
Cash Flow Hedge:                        
Forward currency contracts $64,000  $55,000  $-  $-  $607  $4,158 
Fixed price commodity contracts  3,250   6,500   -   -   1,630   3,564 
Fair Value Hedge:                        
Interest rate swap contract  45,000   45,000   1,832   1,078   -   - 
   112,250   106,500   1,832   1,078   2,237   7,722 
Derivatives not designated as hedging                        
instruments:                        
Forward currency contracts  25,244   25,894   -   2   36   - 
Total derivatives $137,494  $132,394  $1,832  $1,080  $2,273  $7,722 

 

(A) Notional amounts represent the gross contract / notional amount of the derivatives outstanding.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Amounts recorded for the cash flow hedges in other comprehensive income (loss) in shareholders’ equity and in net income (loss) for the three months ended June 30 are as follows:

 

                      Amount of loss  
    Amount of loss     Amount of gain     Amount of loss     reclassified from  
    recorded in     recorded in     reclassified from     other  
    other     other     other     comprehensive  
    comprehensive     comprehensive     comprehensive     income into net  
    loss     income     loss into net loss     income  
    2012     2011     2012     2011  
Derivatives designated as cash flow hedges:                                
Forward currency contracts   $ 1,497     $ -     $ 476     $ -  
Fixed price commodity contracts     1,491       560       741       24  
Total derivatives designated as cash flow hedges   $ 2,988     $ 560     $ 1,217     $ 24  

 

Amounts recorded for the cash flow hedges in other comprehensive income (loss) in shareholders’ equity and in net income for the six months ended June 30 are as follows: 

 

                Amount of loss     Amount of loss  
    Amount of gain     Amount of gain     reclassified from     reclassified from  
    recorded in     recorded in     other     other  
    other     other     comprehensive     comprehensive  
    comprehensive     comprehensive     loss into net     income into net  
    loss     income     income     income  
      2012       2011       2012       2011  
Derivatives designated as cash flow hedges:                                
Forward currency contracts   $ 3,051     $ -     $ 500     $ -  
Fixed price commodity contracts     841       680       1,093       24  
Total derivatives designated as cash flow hedges   $ 3,892     $ 680     $ 1,593     $ 24
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.

 

        June 30,     December 31, 
        2012     2011 
  Fair value estimated using 
  Fair value  Level 1 inputs (A)  Level 2 inputs (B)  Level 3 inputs (C)  Fair value 
Financial assets carried at fair value:               
Interest rate swap contract $1,832  $-  $1,832  $-  $1,078 
Forward currency contracts  -   -   -   -   2 
Total financial assets carried at fair value $1,832  $-  $1,832  $-  $1,080 
Financial liabilities carried at fair value:                    
Forward currency contracts $643  $-  $643  $-  $4,158 
Fixed price commodity contracts  1,630   -   1,630   -   3,564 
Total financial liabilities carried at fair value $2,273  $-  $2,273  $-  $7,722 

 

(A)Fair values estimated using Level 1 inputs, which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The Company did not have any fair value estimates using Level 1 inputs at June 30, 2012 or December 31, 2011.

 

(B)Fair values estimated using Level 2 inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable. For forward currency, commodity hedge and interest rate swap contracts, inputs include foreign currency exchange rates, commodity indexes and the six-month forward LIBOR.

 

(C)Fair values estimated using Level 3 inputs consist of significant unobservable inputs. The Company did not have any fair value estimates using Level 3 inputs at June 30, 2012 or December 31, 2011.