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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value of Financial Instruments  
Schedule of financial instruments measured or disclosed at fair value on a recurring basis

 

 

 
   December 31, 2013  
 
   Total   Level 1   Level 2   Level 3  
 
   (in thousands)
  

Cash and cash equivalents

   $ 34,722   $ 34,722   $ —   $ —  

Restricted cash

     4,124     4,124     —     —  

Notes payable to bank

     —     —     —     —  

Variable interest rate debt

     (26,635 )   —     (26,635 )   —  

Contingent purchase price payment

     (7,500 )   —     —     (7,500 )

Foreign currency forward contracts, net

     (587 )   —     (587 )   —  


 

 
   December 31, 2012  
 
   Total   Level 1   Level 2   Level 3  
 
   (in thousands)
  

Cash and cash equivalents

   $ 26,855   $ 26,855   $ —   $ —  

Restricted cash

     2,634     2,634     —     —  

Notes payable to bank

     (11,500 )   —     (11,500 )   —  

Variable interest rate debt

     (8,489 )   —     (8,489 )   —  

Contingent purchase price payment

     (7,280 )   —     —     (7,280 )

Foreign currency forward contracts, net

     (205 )   —     (205 )   —  
Schedule of significant unobservable inputs

 

 

Unobservable inputs
  Range

Discount rate

   19.0% - 22.0%

Royalty rate

   2.0% - 3.0%

Long term growth rate

   3.0%
Schedule of fair value on Consolidated Balance Sheets of the foreign currency forward contracts

 

 

 
   December 31,  
 
   2013   2012  
 
   (in thousands)
  

Foreign currency forwards designated as hedges:

              

Other current assets

   $ 144   $ 191  

Accrued expenses

     (249 )   (213 )

Foreign currency forwards not designated as hedges:

    
 		    
 		  

Other current assets

     141     284  

Accrued expenses

     (623 )   (467 )
           
​ ​ ​ ​ ​ ​ ​ ​

Foreign currency forwards, net

   $ (587 ) $ (205 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of fair values and classification of our defined benefit plan assets

 

 

 
   December 31, 2013  
 
   Total   Level 1   Level 2   Level 3  
 
   (in thousands)
  

Growth funds(1)

   $ 49,408   $ 49,408   $ —   $ —  

Income funds(2)

     23,925     23,925     —     —  

Growth and income funds(3)

     83,759     —     83,759     —  

Hedge funds(4)

     25,624     —     —     25,624  

Real estate funds

     3,279     731     2,548     —  

Other assets

     1,040     594     446     —  

Cash and cash equivalents

     6,394     6,394     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 193,429   $ 81,052   $ 86,753   $ 25,624  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   


 

 
   December 31, 2012  
 
   Total   Level 1   Level 2   Level 3  
 
   (in thousands)
  

Growth funds(1)

   $ 44,879   $ 43,616   $ 1,263   $ —  

Income funds(2)

     28,473     27,428     1,045     —  

Growth and income funds(3)

     73,186     —     73,186     —  

Hedge funds(4)

     22,615     —     —     22,615  

Real estate funds

     3,300     714     2,586     —  

Other assets

     2,199     1,081     1,118     —  

Cash and cash equivalents

     2,041     2,041     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 176,693   $ 74,880   $ 79,198   $ 22,615  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(1)
Growth funds represent a type of fund containing a diversified portfolio of domestic and international equities with a goal of capital appreciation.

(2)
Income funds represent a type of fund with an emphasis on current income as opposed to capital appreciation. Such funds may contain a variety of domestic and international government and corporate debt obligations, preferred stock, money market instruments and dividend-paying stocks.

(3)
Growth and Income funds represent a type of fund containing a combination of growth and income securities.

(4)
Hedge funds represent a managed portfolio of investments that use advanced investment strategies such as leveraged, long, short and derivative positions in both domestic and international markets with the goal of generating high returns. These funds are subject to quarterly redemptions and advanced notification requirements, as well as the right to delay redemption until sufficient fund liquidity exists.

        
Summary of the changes in the fair value of the defined benefit plans assets classified within Level 3 of the valuation hierarchy

 

 

 
   Year Ended
December 31,		  
 
   2013   2012  
 
   (in thousands)
  

Balance at beginning of period

   $ 22,615   $ 22,523  

Unrealized gain (loss)

     3,067     930  

Realized gain (loss)

     13     448  

Purchases

     —     3,000  

Sales/settlements

     (71 )   (4,286 )
           
​ ​ ​ ​ ​ ​ ​ ​

Balance at end of period

   $ 25,624   $ 22,615  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​