Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments and the balance sheet lines in which they are recorded

The following table sets forth the fair values of derivative instruments held by the Company as of September 30, 2015 and December 31, 2014 and the balance sheet lines in which they are recorded:

	Fair Value Asset (Liability)
	September 30, 2015			December 31, 2014			Balance Sheet Caption
Foreign currency forward / collar contracts	$	1,182		$	973		Prepaid / Other assets
Foreign currency forward / collar contracts	(505		)	(810		)	Other accrued expenses
Net investment hedge - cross currency swap	(16,285		)	(15,567		)	Accrued expenses

Schedule of net investment hedges in accumulated other comprehensive income (loss)

Amounts recognized in other comprehensive earnings (loss) for the gains (losses) on its net investment hedges were as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Gain on Euro-denominated debt	$	300		$	26,357		$	28,675		$	29,722
Gain (loss) on Swiss franc cross-currency swap	3,331			5,489			(718		)	5,466
Total gain on net investment hedges before tax	3,631			31,846			27,957			35,188
Tax expense	(1,271		)	(11,146		)	(9,785		)	(12,316		)
Net gain on net investment hedges, net of tax	$	2,360		$	20,700		$	18,172		$	22,872

Assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014:

	September 30, 2015						December 31, 2014
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Foreign currency cash flow hedges	$	—	$	1,182	$	—	$	—	$	973	$	—
Liabilities:
Foreign currency cash flow hedges	—		505		—		—		810		—
Net investment hedge derivative	—		16,285		—		—		15,567		—