2.2.0.7 false Composition of Certain Financial Statement Items (Policies) 0402 - Disclosure - Composition of Certain Financial Statement Items (Policies) true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 Pure Standard http://www.xbrl.org/2003/instance pure xbrli 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Composition of Certain Financial Statement Items (Policies) [Abstract] 0 life_CompositionOfCertainFinancialStatementItemsPoliciesAbstract life false na duration Composition of Certain Financial Statement Items. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Composition of Certain Financial Statement Items. false 3 Adoption of ASC Topic 820 & its impact 1 life_FairValueOfFinancialInstrumentsPolicyTextBlock life false na duration Adoption of ASC Topic 820 & its impact. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>ASC Topic 820, Fair Value Measurements and Disclosures </i>has redefined fair value and required the Company to establish a framework for measuring fair value and expand disclosures about fair value measurements. The framework requires the valuation of assets and liabilities subject to fair value measurements using a three tiered approach and fair value measurement be classified and disclosed in one of the following three categories: </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     The following table represents the financial instruments measured at fair value on a recurring basis on the financial statements of the Company subject to <i>ASC Topic 820, Fair Value Measurements and Disclosures </i>and the valuation approach applied to each class of financial instruments: </div> </div>    <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><i>Derivative Financial Instruments</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     Some of the Company’s reporting entities conduct a portion of their business in currencies other than the entity’s functional currency. These transactions give rise to receivables and payables that are denominated in currencies other than the entity’s functional currency. The value of these receivables and payables is subject to changes in currency exchange rates from the point in which the transactions are originated until the settlement in cash. Both realized and unrealized gains and losses in the value of these receivables and payables are included in the determination of net income. Net currency exchange gains (loss) recognized on business transactions, net of hedging transactions, were $1.2 million and $(8.3) million for the three months ended June 30, 2010 and June 30, 2009, respectively, and $5.0 million and $(6.8) million for the six months ended June 30, 2010 and June 30, 2009, respectively, and such gains and losses are included in other income/(expense) in the Consolidated Statements of Operations. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     To manage the foreign currency exposure risk, we use derivatives for activities in entities which have receivables and payables denominated in a currency other than the entity’s functional currency. Realized and unrealized gains or losses on the value of financial contracts entered into to hedge the exchange rate exposure of these receivables and payables are also included in the determination of net income as they have not been designated for hedge accounting under <i>ASC Topic 815, Derivatives and Hedging. </i>These contracts, which settle July 2010 through November 2010, effectively fix the exchange rate at which these specific receivables and payables will be settled in, so that gains or losses on the forward contracts offset the gains or losses from changes in the value of the underlying receivables and payables. At June 30, 2010, the Company had a notional principal amount of $977.9 million in foreign currency forward contracts outstanding to hedge currency risk relative to our foreign receivables and payables. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     The Company’s international operating units conduct business in, and have functional currencies that differ from the parent entity, and therefore, the ultimate conversion of these sales to cash in United States dollars is subject to fluctuations in foreign currency. The Company’s intent is to limit this exposure on the Company’s Consolidated Statements of Operations and Consolidated Statements of Cash Flows from changes in currency exchange rates through hedging. Upon entering derivative transactions, when the United States dollar strengthens significantly against foreign currencies, the decline in the United States dollar value of future foreign currency revenue is offset by gains in the value of the forward contracts designated as hedges. Conversely, when the United States dollar weakens, the opposite occurs. The Company’s currency exposures vary, but are primarily concentrated in the euro, British pound sterling, Japanese yen and Canadian dollar. The Company uses foreign currency forward contracts to mitigate foreign currency risk on forecasted foreign currency intercompany sales which are expected to be settled through June 2011. The change in fair value prior to their maturity is accounted for as cash flow hedges, and recorded in other comprehensive income, net of tax, in the Consolidated Balance Sheets according to <i>ASC Topic 815, Derivatives and Hedging</i>. To the extent any portion of the forward contracts is determined to not be an effective hedge, the increase or decrease in value prior to the maturity is recorded in other income/(expense) in the Consolidated Statements of Operations. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     At June 30, 2010, the Company had a notional principal amount of $709.4 million in foreign currency forward contracts outstanding to hedge foreign currency revenue risk under <i>ASC Topic 815, Derivatives and Hedging</i>. During the three and six months ended June 30, 2010, the Company did not have any material losses or gains related to the ineffective portion of its hedging instruments in other expense in the Consolidated Statements of Operations. No hedging relationships were terminated as a result of ineffective hedging or forecasted transactions no longer probable of occurring for foreign currency forward contacts. The Company continuously monitors the probability of forecasted transactions as part of the hedge effectiveness testing. The Company reclasses deferred gains or losses reported in accumulated other comprehensive income into revenue when the consolidated earnings are impacted, which for intercompany sales are when the inventory is sold to a third party. For intercompany sales hedging, the Company uses an inventory turnover ratio for each international operating unit to align the timing of a hedged item and a hedging instrument to impact the Consolidated Statements of Operations during the same reporting period. At June 30, 2010, the Company expects to recognize $19.7 million of net gains on derivative instruments currently classified under accumulated other comprehensive income to revenue offsetting the change in revenue due to foreign currency translation during the next twelve months. </div> </div>  <!-- Begin Block Tagged false false false us-types:textBlockItemType textblock Describes an entity's accounting policies for its derivative instruments and hedging activities. Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations. 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