FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

Derivative Instruments and Hedging Activities

The values of our derivative instruments are derived from pricing models using inputs based upon market information, including contractual terms, market prices and yield curves.  The inputs to the valuation pricing models are observable in the market, and as such are generally classified as Level 2 in the fair value hierarchy.

Restructuring Charges

Accrued restructuring costs were valued using a discounted cash flow model.  Significant assumptions used in determining the amount of the estimated liability for closing a facility are the estimated liability for future lease payments on vacant facilities and the discount rate utilized to determine the present value of the future expected cash flows. If the assumptions regarding early termination and the timing and amounts of sublease payments prove to be inaccurate, we may be required to record additional losses, or conversely, a future gain, in the Consolidated Statements of Comprehensive Income (Loss).

In the future, if we sublease for periods that differ from our assumption or if an actual buy-out of a lease differs from our estimate, we may be required to record a gain or loss.  Future cash flows also include estimated property taxes through the remainder of the lease term, which are valued based upon historical tax payments.  Given that the restructuring charges were valued using our internal estimates using a discounted cash flow model, we have classified the accrued restructuring costs as Level 3 in the fair value hierarchy.

Assets Held for Sale

In 2010, we committed to a plan to sell the buildings and land at our closed facilities in Laramie, Wyoming and Greeley, Colorado.  We received estimates of the selling prices of this real estate, and have reduced the value of the buildings and land to fair value, less costs to sell, or approximately $4,102 at December 31, 2011. The measurement of the fair value of the buildings was based upon our third-party real estate broker’s non-binding estimate of fair value using the observable market information regarding sale prices of comparable assets.  During 2012, we committed to sell our Enid, Oklahoma facility, which had a carrying value of $867.  As these inputs to the determination of fair value are based upon non-identical assets and use significant unobservable inputs, we have classified the assets as Level 3 in the fair value hierarchy.

Fair Value Hierarchy

The following tables set forth our assets and liabilities measured at fair value on a recurring basis and a non-recurring basis by level within the fair value hierarchy.  Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

	Assets Measured at Fair Value on a Recurring Basis as of March 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Foreign exchange contracts	$	—	$	292	$	—	$	292
Total fair value of assets measured on a recurring basis	$	—	$	292	$	—	$	292
Liabilities:
Foreign exchange contracts	$	—	$	503	$	—	$	503
Total fair value of liabilities measured on a recurring basis	$	—	$	503	$	—	$	503

	Assets Measured at Fair Value on a Recurring Basis as of December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Foreign exchange contracts	$	—	$	733	$	—	$	733
Total fair value of assets measured on a recurring basis	$	—	$	733	$	—	$	733
Liabilities:
Foreign exchange contracts	$	—	$	253	$	—	$	253
Total fair value of liabilities measured on a recurring basis	$	—	$	253	$	—	$	253

	Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis as of March 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Assets held for sale	$	—	$	—	$	4,969	$	4,969
Total fair value of assets measured on a non-recurring basis	$	—	$	—	$	4,969	$	4,969
Liabilities:
Accrued restructuring costs	$	—	$	—	$	456	$	456
Total fair value of liabilities measured on a non-recurring basis	$	—	$	—	$	456	$	456

	Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis as of December 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Assets held for sale	$	—	$	—	$	4,969	$	4,969
Total fair value of assets measured on a non-recurring basis	$	—	$	—	$	4,969	$	4,969
Liabilities:
Accrued restructuring costs	$	—	$	—	$	957	$	957
Total fair value of liabilities measured on a non-recurring basis	$	—	$	—	$	957	$	957