Derivative Financial Instruments

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

Note 5 — Derivative Financial Instruments

The Company uses forward contracts to manage its foreign currency needs and exchange risk arising from its assets and liabilities denominated in foreign currencies. While these contracts economically hedge foreign currency risk, they are not designated as hedges for accounting purposes.

The “Transaction and operations support” line in the Consolidated Statements of (Loss) Income includes the following losses (gains) related to assets and liabilities denominated in foreign currencies:

	Three Months Ended June 30,						Six Months Ended June 30,
(Amounts in thousands)	2012			2011			2012			2011
Net realized foreign currency losses (gains)	$	5,630		$	(2,130	)	$	1,144			(8,720	)
Net (gains) losses from the related forward contracts		(5,267	)		4,440			(1,302	)		12,525
Net losses (gains) from foreign currency transactions and related forward contracts	$	363		$	2,310		$	(158	)	$	3,805

At June 30, 2012 and December 31, 2011, the Company had $81.6 million and $65.5 million, respectively, of outstanding notional amounts relating to its forward contracts. At June 30, 2012 and December 31, 2011, the Company reflects the following fair values of derivative forward contract instruments in its Consolidated Balance Sheets:

			Derivative Assets				Derivative Liabilities
(Amounts in thousands)	Balance Sheet Location		June 30, 2012		December 31, 2011		June 30, 2012		December 31, 2011
Forward contracts		Other liabilities	$	1,423	$	—	$	214	$	—
Forward contracts		Other assets	$	—	$	399	$	—	$	46