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Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS A. FAIR VALUE OF DERIVATIVE INSTRUMENTS Derivative financial instruments are presented as other assets or other payables. For asset derivatives and liability derivatives, the fair value of the Company’s outstanding derivative instruments as of December 31, 2013 and December 31, 2012 is summarized below:
| Asset Derivatives (*) |  | Liability Derivatives (**)
| December 31, 2013 |  | December 31, 2012 |  | December 31, 2013 |  | December 31, 2012
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Foreign exchange contracts | $ | 3,589 |  |  | $ | 21,100 |  |  | $ | 3,924 |  |  | $ | 3,095 |
Cross-currency interest rate swaps | 58,154 |  |  | 22,415 |  |  | — |  |  | — |
| 61,743 |  |  | 43,515 |  |  | 3,924 |  |  | 3,095 |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
Foreign exchange contracts | 1,411 |  |  | 3,638 |  |  | 842 |  |  | 1,897 |
| $ | 1,411 |  |  | $ | 3,638 |  |  | $ | 842 |  |  | $ | 1,897 |
(*) Presented as part of other receivables and long term other receivables. (**) Presented as part of other payables and long term other payables. B. EFFECT ON CASH FLOW HEDGING The effect of derivative instruments on cash flow hedging and the relationship between income and other comprehensive income for the years ended December 31, 2013 and December 31, 2012 is summarized below:
| Gain (Loss) Recognized in Other Comprehensive Income on Effective- Portion of Derivative, net |  | Gain (loss) on Effective Portion of Derivative Reclassified from Accumulated Other Comprehensive Income (*) |  | Ineffective Portion of Gain (loss) of Derivative and Amount Excluded from Effectiveness Testing Recognized in Income (**)
| December 31, 2013 |  | December 31, 2012 |  | December 31, 2013 |  | December 31, 2012 |  | December 31, 2013 |  | December 31, 2012
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | $ | 13,491 |  |  | $ | 12,277 |  |  | $ | (30,591 | ) |  | $ | (15,831 | ) |  | $ | (688 | ) |  | $ | 180 |
(*) Presented as part of revenues/cost of sales (**) Presented as part of financial income (expenses), net Note 19 - DERIVATIVE FINANCIAL INSTRUMENTS (Cont.) C. NET EFFECT OF CROSS-CURRENCY SWAPS The annual net effect of the cross-currency swaps was approximately $44,836 of gain, of which approximately $33,963 was offset against exchange rate difference, related to Series A Notes and long term loans are approximately $10,873 was offset against interest expenses. D. FORWARD CONTRACTS The notional amounts of outstanding foreign exchange forward contracts at December 31, 2013 and December 31, 2012, is summarized below:
| Forward contracts
| Buy |  | Sell
| December 31, |  | December 31,
| 2013 |  | 2012 |  | 2013 |  | 2012
Euro | $ | 60,076 |  |  | $ | 60,665 |  |  | $ | 142,451 |  |  | $ | 131,696 |
GBP | 22,432 |  |  | 45,262 |  |  | 19,545 |  |  | 28,268 |
NIS | 20,400 |  |  | 386,017 |  |  | — |  |  | — |
Other | 32,087 |  |  | 4,344 |  |  | 4,682 |  |  | 14,871 |
| $ | 134,995 |  |  | $ | 496,288 |  |  | $ | 166,678 |  |  | $ | 174,835 |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959 Reference 20: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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