MARKETABLE SECURITIES (Notes)

6 Months Ended

Jun. 30, 2013

Schedule of Trading Securities and Other Trading Assets [Line Items]

Marketable Securities [Table Text Block]

MARKETABLE SECURITIES

As of June 30, 2013, the Company held investments in equity securities of $11.7 million classified as trading securities and included in prepaid expenses and other assets in the consolidated balance sheets. These investments are carried at fair value based on quoted market prices and classified as Level 1 in the fair value hierarchy. Cost basis for the Company's equity securities is determined by the specific identification method. Realized and unrealized gains and losses on trading securities are included in other expenses/(income) - net in the Company's consolidated statements of earnings.

The Company did not hold any investments classified as trading securities as of December 31, 2012. During the three months and six months ended June 30, 2013, the Company recognized losses on trading securities of $0.3 million. These investments in trading securities were sold in July 2013 in connection with the payment of the remaining balance of the note payable in connection with the Argentine Acquisition discussed in Note 15.