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Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

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 were as follows:

					Prepaid expenses and other
					current assets / other				Accrued expenses and other
	Notional amounts ^(A)				long-term assets				current liabilities
	September 30,		December 31,		September 30,		December 31,		September 30,		December 31,
	2012		2011		2012		2011		2012		2011
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Forward currency contracts	$	50,250	$	55,000	$	1,709	$	-	$	-	$	4,158
Fixed price commodity contracts		2,625		6,500		33		-		-		3,564

Fair Value Hedge:
Interest rate swap contract		45,000		45,000		2,528		1,078		-		-
		97,875		106,500		4,270		1,078		-		7,722

Derivatives not designated as hedging instruments:
Forward currency contracts		17,532		25,894		-		2		27		-
Total derivatives	$	115,407	$	132,394	$	4,270	$	1,080	$	27	$	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 for the three months ended September 30 were as follows:

						Gain (loss)			Gain (loss)
	Gain (loss)		Gain (loss)			reclassified from			reclassified from
	recorded in		recorded in			other			other
	other		other			comprehensive			comprehensive
	comprehensive		comprehensive			income into net			loss into net
	income		loss			income			income
	2012		2011			2012			2011
Derivatives designated as cash flow hedges:
Forward currency contracts	$	2,301	$	(7,369	)	$	(15	)	$	(981	)
Fixed price commodity contracts		889		(7,468	)		(774	)		(63	)
Total derivatives designated as cash flow hedges	$	3,190	$	(14,837	)	$	(789	)	$	(1,044	)

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

						Gain (loss)			Gain (loss)
	Gain (loss)		Gain (loss)			reclassified from			reclassified from
	recorded in		recorded in			other			other
	other		other			comprehensive			comprehensive
	comprehensive		comprehensive			income into net			loss into net
	income		loss			income			income
	2012		2011			2012			2011
Derivatives designated as cash flow hedges:
Forward currency contracts	$	5,352	$	(7,369	)	$	(515	)	$	(981	)
Fixed price commodity contracts		1,731		(6,788	)		(1,866	)		(87	)
Total derivatives designated as cash flow hedges	$	7,083	$	(14,157	)	$	(2,381	)	$	(1,068	)

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.

					September 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	$	2,528	$	-	$	2,528	$	-	$	1,078
Forward currency contracts		1,709		-		1,709		-		2
Fixed price commodity contracts		33		-		33		-		-

Total financial assets carried at fair value	$	4,270	$	-	$	4,270	$	-	$	1,080

Financial liabilities carried at fair value:
Forward currency contracts	$	27	$	-	$	27	$	-	$	4,158
Fixed price commodity contracts		-		-		-		-		3,564

Total financial liabilities carried at fair value	$	27	$	-	$	27	$	-	$	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 September 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, fixed price commodity 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 September 30, 2012 or December 31, 2011.

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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