Foreign Currency Exchange Rate Risk

3 Months Ended

Mar. 31, 2012

Foreign Currency [Abstract]

Foreign Currency Exchange Rate Risk

Foreign Currency Exchange Rate Risk

The gains and losses related to outstanding derivative instruments recorded in other income are offset by the reciprocal gains and losses from the underlying assets or liabilities which originally gave rise to the exposure. The net amount of these gains and losses for the three months ended March 31,2012 and 2011 were a gain of $1.2 million and a loss of $4.5 million, respectively.

The net notional amounts are used to measure the volume of foreign currency forward contracts and do not represent exposure to foreign currency gains or losses. The table below presents the net notional amounts of the Company’s outstanding foreign currency forward contracts by currency (in thousands):

	March 31, 2012		December 31, 2011
Euro	$	20,805	$	19,640
Swedish kronor	15,980		18,091
British pound sterling	15,856		3,050
Australian dollar	727		609
Danish kroner	—		174
Japanese yen	5,015		3,581
	$	58,383	$	45,145

Note 5. Foreign Currency Exchange Rate Risk - (Continued)

At March 31, 2012, all of the Company’s foreign currency forward contracts had maturities of 45 days or less.