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Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Classifications and fair values of derivative instruments

The following table presents the classifications and fair values of our derivative instruments as of September 30, 2012 and December 31, 2011 (in thousands):


Consolidated Balance Sheets
Derivative	Classification	September 30, 2012			December 31, 2011
Average rate currency options and forward contracts	Prepaids and other current assets	$	33		$	—
Interest rate swap	Accrued expenses	$	(88	)	$	(36	)

Mark-to-market impact on earnings

The following table presents the mark-to-market impact on earnings resulting from ICG’s hedging activities for the three- and nine-month periods ended September 30, 2012 and 2011, respectively (in thousands):


Consolidated Statements of Operations
		Three months ended September 30,						Nine months ended September 30,
Derivative	Classification	2012			2011			2012			2011
Average rate currency options and forward contracts	Other income (loss), net	$	45		$	(43	)	$	(78	)	$	(185	)
Interest rate swap	Interest income (expense)	$	(82	)	$	(9	)	$	(52	)	$	(41	)

Financial assets measured at fair value on a recurring basis

The fair value hierarchy of ICG’s financial assets measured at fair value on a recurring basis at September 30, 2012 and December 31, 2011 were as follows (in thousands):


	Asset (liability) as of September 30, 2012			Valuation Technique (Approach)	Level 1		Level 2			Level 3
Cash equivalents (money market accounts and commercial paper investments)	$	51,995		Market	$	51,995	$	—		$	—
Hedges of interest rate risk ⁽¹⁾		(88	)	Market		—		(88	)		—
Acquisition contingent consideration obligations		(461	)	Income		—		—			(461	)

	$	51,446			$	51,995	$	(88	)	$	(461	)


	Asset (liability) as of December 31, 2011			Valuation Technique (Approach)	Level 1		Level 2			Level 3
Cash equivalents (money market accounts and commercial paper investments)	$	111,775		Market	$	111,775	$	—		$	—
Hedges of interest rate risk ⁽¹⁾		(36	)	Market		—		(36	)		—
Acquisition contingent consideration obligations		(1,197	)	Income		—		—			(1,197	)

	$	110,542			$	111,775	$	(36	)	$	(1,197	)

⁽¹⁾

ICG’s respective counterparties under the arrangements provide quarterly statements of market values of those instruments based on significant inputs that are observable or can be derived principally from, or corroborated by, observable market data for substantially the full term of the asset or liability.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

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