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FAIR VALUE (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities measured at fair value on a recurring basis
The following table provides a summary of assets and liabilities as of June 30, 2013, measured at fair value on a recurring basis:
Description
 
Balance as of June 30, 2013
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
2,216

 
$

 
$
2,216

 
$

Net investment contracts
 
8

 

 
8

 

Commodity contracts
 
638

 

 
638

 

Total assets
 
$
2,862

 
$

 
$
2,862

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
4,842

 
$

 
$
4,842

 
$

Commodity contracts
 
49

 

 
49

 

Contingent consideration
 
5,129

 

 

 
5,129

Deferred compensation
 
18,635

 

 
18,635

 

Total liabilities
 
$
28,655

 
$

 
$
23,526

 
$
5,129

The following table provides a summary of assets and liabilities as of December 31, 2012, measured at fair value on a recurring basis:
Description
 
Balance as of December 31, 2012
 
Quoted Prices
in Active
Markets for
Identical Assets
or Liabilities
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
862

 
$

 
$
862

 
$

Commodity contracts
 
731

 

 
731

 

Total assets
 
$
1,593

 
$

 
$
1,593

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
1,227

 
$

 
$
1,227

 
$

Contingent consideration
 
4,894

 

 

 
4,894

Deferred compensation
 
16,882

 

 
16,882

 

Total liabilities
 
$
23,003

 
$

 
$
18,109

 
$
4,894