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DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2013
DERIVATIVE INSTRUMENTS [Abstract]  
Fair Value of Derivative Instruments Liabilities
The following table sets forth the fair value of the Company’s derivative instruments recorded as liabilities located on the consolidated balance sheet at September 30, 2013 and December 31, 2012 (in thousands):

Liability Derivatives
Balance Sheet Location
 
September 30,
2013
  
December 31,
2012
 
Derivatives designated as hedging instruments under ASC 815:
 
 
  
 
 
 
 
  
 
Foreign currency contracts
Other accrued liabilities
 
$
49
  
$
−
 
Foreign currency contracts
Other long-term liabilities
  
−
   
39
 
Interest rate contracts
Other accrued liabilities
  
−
   
1,486
 
 
 
        
Total derivatives designated as hedging instruments under ASC 815
 
 
$
49
  
$
1,525
 
Total liability derivatives
 
 
$
49
  
$
1,525
 
Cash Flow Hedges
The following table sets forth the location and amount of gains and losses on the Company’s derivative instruments in the consolidated statements of earnings for the three months and nine months ended September 30, 2013 and 2012 (in thousands):
 
Location of Gain (Loss)
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective
Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Reclassified from
Three months ended
 
Three months ended
 
Derivatives in ASC 815 Cash
Accumulated OCI into Income
September 30,
 
September 30,
 
Flow Hedging Relationships:
(Effective Portion)
2013
 
2012
 
2013
 
2012
 
Interest rate contracts
Interest expense
$
─
 
$
1,950
 
$
─
 
$
(2,092
)
 
 
            
Foreign exchange contracts
Cost and sales of operating expenses
 
(20
)
 
110
 
─
  
21
 
 
 
            
Total
 
$
(20
)
$
2,060
 
$
─
 
$
(2,071
)
 
Location of Gain (Loss)
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective
Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Reclassified from
Nine months ended
 
Nine months ended
 
Derivatives in ASC 815 Cash
Accumulated OCI into Income
September 30,
 
September 30,
 
Flow Hedging Relationships:
(Effective Portion)
2013
 
2012
 
2013
 
2012
 
Interest rate contracts
Interest expense
$
1,486
 
$
5,573
 
$
(1,389
)
$
(6,192
)
 
 
            
Foreign exchange contracts
Cost and sales of operating expenses
 
(13
)
 
359
 
─
  
19
 
 
 
            
Total
 
$
1,473
 
$
5,932
 
$
(1,389
)
$
(6,173
)