Financial Derivative Instruments

9 Months Ended

Sep. 30, 2012

Financial Derivative Instruments

12. Financial Derivative Instruments

The Company uses forward foreign exchange contracts as cash flow hedges to offset risks related to foreign currency transactions. These transactions primarily relate to non-functional currency denominated monetary assets, inter-company funding loans and inter-company accounts receivable.

The fair value of our derivative positions in the Consolidated Balance Sheets at September 30, 2012 and December 31, 2011 are as follows:

	September 30, 2012
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		2,208		October 2012		14
Foreign currency exchange forwards	Accrued expenses and other current liabilities		82,329		October 2012		(531	)
Total Derivative Instruments		$	84,537			$	(517	)
	December 31, 2011
	Component of	Notional Amount		Maturity Dates		Fair Value
Designated as Hedges under ASC 815
None		$	—			$	—
Not Designated as Hedges under ASC 815
Foreign currency exchange forwards	Prepaid and other		52,373		January through February 2012		215
Total Derivative Instruments		$	52,373			$	215

The amounts of unrealized and realized net gains and changes in the fair value of our derivative positions are as follows:

	Location of Realized and Unrealized Net Gain (Loss)  and Changes in the Fair Value of Forward Contracts		Amount of Realized and Unrealized Net Gain (Loss) and  Changes in the Fair Value of Forward Contracts
			Three Months Ended September 30,					Nine Months Ended September 30,
			2012		2011			2012		2011
Foreign currency exchange forwards		Interest and other, net	$	1,146	$	(222	)	$	1,419	$	(54	)