Derivative Financial Instruments

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Financial Instruments

Foreign Currency Exchange Rate Contracts

In general, the gains and losses related to the Company's foreign currency exchange rate contracts recorded in other income, net are offset by the reciprocal gains and losses from the underlying assets or liabilities which originally gave rise to the exposure. The net gains for the three months ended March 31, 2016 were $7.0 million. The net losses for the three months ended March 31, 2015 were $4.0 million.

The following table provides volume information about the Company's foreign currency exchange rate contracts. The table below presents the net notional amounts of the Company's outstanding foreign currency forward contracts in United States dollar equivalent amounts (in thousands):

	March 31, 2016		December 31, 2015
Swedish kronor	$	75,098	$	59,198
Canadian dollar	14,226		10,799
British pound sterling	13,640		10,203
Euro	12,448		281
Brazilian real	5,898		6,440
Japanese yen	4,586		2,124
Australian dollar	2,152		2,342
Other	440		526
	$	128,488	$	91,913

At March 31, 2016, the Company’s foreign currency forward contracts, in general, had maturities of three months or less.

Note 5. Derivative Financial Instruments - (Continued)

Foreign Currency Exchange Rate Contracts - (Continued)

The carrying amount of the foreign currency forward contracts included in the Consolidated Balance Sheets are as follows (in thousands):

	March 31, 2016				December 31, 2015
	Other current assets		Other current liabilities		Other current assets		Other current liabilities
Foreign currency forward contracts	$	5,167	$	1,118	$	767	$	1,314

Interest Rate Swap Contracts

At March 31, 2016, the effective interest rate on the Company's term loan was 2.49 percent. As of March 31, 2016, the following interest rate swaps were outstanding:

Contract Date	Notional Amount (in millions)		Fixed Rate		Effective Date	Maturity Date
March 15, 2013	$	52.5	1.02	%	April 5, 2013	March 31, 2019
March 29, 2013	$	52.5	0.97	%	April 5, 2013	March 31, 2019

The net fair value carrying amount of the Company's interest rate swaps was a liability of $0.6 million of $0.4 million has been recorded in other current liabilities and $0.2 million has been recorded to other long-term liabilities in the Consolidated Balance Sheet as of March 31, 2016.