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FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2014
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 March 31, 2014, measured at fair value on a recurring basis:
Description
 
Balance as of
March 31, 2014
 
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
 
$
1,472

 
$

 
$
1,472

 
$

Commodity contracts
 
358

 

 
358

 

Total assets
 
$
1,830

 
$

 
$
1,830

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
1,808

 
$

 
$
1,808

 
$

Commodity contracts
 
13

 

 
13

 

Contingent consideration
 
5,502

 

 

 
5,502

Forward contract
 
18,925

 

 

 
18,925

Deferred compensation
 
22,018

 

 
22,018

 

Total liabilities
 
$
48,266

 
$

 
$
23,839

 
$
24,427

The following table provides a summary of assets and liabilities as of December 31, 2013, measured at fair value on a recurring basis:
Description
 
Balance as of December 31, 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
 
$
1,472

 
$

 
$
1,472

 
$

Commodity contracts
 
262

 

 
262

 

Total assets
 
$
1,734

 
$

 
$
1,734

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
447

 
$

 
$
447

 
$

Commodity contracts
 
47

 

 
47

 

Contingent consideration
 
5,375

 

 

 
5,375

Forward contract
 
16,974

 

 

 
16,974

Deferred compensation
 
20,132

 

 
20,132

 

Total liabilities
 
$
42,975

 
$

 
$
20,626

 
$
22,349