Fair Value (Tables)

12 Months Ended

Dec. 31, 2013

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands):


	Fair Value Measurements at December 31, 2013 Using:
	Balance at		Quoted Prices in Active Markets For Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	December 31, 2013		Level (1)		Level (2)		Level (3)
Assets:
Money market funds and open-end mutual funds included in “Cash and cash equivalents” ⁽¹⁾	$	50,627	$	50,627	$	—	$	—
Money market funds and open-end mutual funds in “Deferred charges and other assets” ⁽¹⁾		11		11		—		—
Foreign currency forward and option contracts ⁽²⁾		2,240		—		2,240		—
Equity investments held in a rabbi trust for the Deferred Compensation Plan ⁽³⁾		5,251		5,251		—		—
Debt investments held in a rabbi trust for the Deferred Compensation Plan ⁽³⁾		1,170		1,170		—		—
Guaranteed investment certificates ⁽⁴⁾		80		—		80		—

	$	59,379	$	57,059	$	2,320	$	—

Liabilities:
Long-term debt ⁽⁵⁾	$	98,000	$	—	$	98,000	$	—
Foreign currency forward and option contracts ⁽⁶⁾		5,063		—		5,063		—

	$	103,063	$	—	$	103,063	$	—

⁽¹⁾	In the accompanying Consolidated Balance Sheet.

⁽²⁾	Included in “Other current assets” in the accompanying Consolidated Balance Sheet. See Note 12, Financial Derivatives.

⁽³⁾	Included in “Other current assets” in the accompanying Consolidated Balance Sheet. See Note 13, Investments Held in Rabbi Trust.

⁽⁴⁾	Included in “Deferred charges and other assets” in the accompanying Consolidated Balance Sheet.

⁽⁵⁾	The carrying value of long-term debt approximates its estimated fair value as it re-prices at varying interest rates. See Note 20, Borrowings.

⁽⁶⁾	Included in “Other accrued expenses and current liabilities” in the accompanying Consolidated Balance Sheet. See Note 12, Financial Derivatives.

The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands):


	Fair Value Measurements at December 31, 2012 Using:
	Balance at		Quoted Prices in Active Markets For Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	December 31, 2012		Level (1)		Level (2)		Level (3)
Assets:
Money market funds and open-end mutual funds included in “Cash and cash equivalents” ⁽¹⁾	$	7,598	$	7,598	$	—	$	—
Money market funds and open-end mutual funds in “Deferred charges and other assets” ⁽¹⁾		11		11		—		—
Foreign currency forward and option contracts ⁽²⁾		1,994		—		1,994		—
Foreign currency forward and option contracts ⁽³⁾		14		—		14		—
Equity investments held in a rabbi trust for the Deferred Compensation Plan ⁽⁴⁾		3,212		3,212		—		—
Debt investments held in a rabbi trust for the Deferred Compensation Plan ⁽⁴⁾		2,049		2,049		—		—
Guaranteed investment certificates ⁽⁵⁾		80		—		80		—

	$	14,958	$	12,870	$	2,088	$	—

Liabilities:
Long-term debt ⁽⁶⁾	$	91,000	$	—	$	91,000	$	—
Foreign currency forward and option contracts ⁽⁷⁾		974		—		974		—

	$	91,974	$	—	$	91,974	$	—

⁽¹⁾	In the accompanying Consolidated Balance Sheet.

⁽²⁾	Included in “Other current assets” in the accompanying Consolidated Balance Sheet. See Note 12, Financial Derivatives.

⁽³⁾	Included in “Deferred charges and other assets” in the accompanying Consolidated Balance Sheet. See Note 12, Financial Derivatives.

⁽⁴⁾	Included in “Other current assets” in the accompanying Consolidated Balance Sheet. See Note 13, Investments Held in Rabbi Trust.

⁽⁵⁾	Included in “Deferred charges and other assets” in the accompanying Consolidated Balance Sheet.

⁽⁶⁾	The carrying value of long-term debt approximates its estimated fair value as it re-prices at varying interest rates. See Note 20, Borrowings.

⁽⁷⁾	Included in “Other accrued expenses and current liabilities” in the accompanying Consolidated Balance Sheet. See Note 12, Financial Derivatives.

Impairment Losses Related to Nonrecurring Fair Value Measurements of Certain Assets

The following table summarizes the total impairment losses related to nonrecurring fair value measurements of certain assets (no liabilities) subject to the requirements of ASC 820 (in thousands) (none in 2013):


	Total Impairment (Loss)
	Years Ended December 31,
	2012			2011
Americas:
Property and equipment, net ⁽¹⁾	$	(355	)	$	(1,244	)
EMEA:
Property and equipment, net ⁽¹⁾		—			(474	)

		(355	)		(1,718	)
Discontinued Operations:
EMEA — Property and equipment, net ^{(1), (2)}		—			(843	)

	$	(355	)	$	(2,561	)

⁽¹⁾	See Note 1, Overview and Summary of Significant Accounting Policies, for additional information regarding the fair value measurement as outlined in Property and Equipment.

⁽²⁾	See Note 3, Discontinued Operations, for additional information regarding the impairments related to discontinued operations.