DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the third quarter and nine months ended September 30, 2013:

		September 30, 2013
	Income Statement Location	Three Months Ended			Nine Months Ended
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)	$	2,602		$	1,093
	Other operating income (expense)	(619		)	(619		)
Foreign currency option contracts	Other comprehensive income (loss)	832			468
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating income (expense)	360			1,786
Foreign currency option contracts	Other operating income (expense)	480			(1,011		)
Interest rate swaps	Interest and other miscellaneous income	2,079			4,729
Fuel hedges	Cost of sales - benefit	(162		)	(14		)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets at September 30, 2013:

	September 30, 2013
	Notional Amount (a)
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	$	23,500
Foreign currency option contracts	32,000
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	$	8,650
Foreign currency option contracts	16,000
Interest rate swaps	185,013
Fuel contracts	41

(a) All notional amounts are stated in thousands of dollars except fuel contracts which are denominated in thousands of barrels.

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheet at September 30, 2013:

	September 30, 2013
	Location on Balance Sheet	Fair Value Assets (Liabilities) (a)
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other current liabilities	(9		)
	Other assets	1,101
Foreign currency option contracts	Other current liabilities	(286		)
	Other assets	755
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Prepaid and other current assets	204
Foreign currency option contracts	Other current liabilities	(56		)
	Other assets	200
Interest rate swaps	Other current liabilities	(2,949		)
	Other non-current liabilities	(4,164		)
Fuel contracts	Other current liabilities	(109		)
Total derivative contracts:
Prepaid and other current assets		204
Other assets		2,056
Total derivative assets		$	2,260
Other current liabilities		(3,409		)
Other non-current liabilities		(4,164		)
Total derivative liabilities		$	(7,573	)

(a) See Note 10 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.