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FAIR VALUE (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2014, measured at fair value on a recurring basis:
Description
 
Balance as of June 30, 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
 
$
1,008

 
$

 
$
1,008

 
$

Total assets
 
$
1,008

 
$

 
$
1,008

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
1,047

 
$

 
$
1,047

 
$

Commodity contracts
 
499

 

 
499

 

Contingent consideration
 
5,632

 

 

 
5,632

Forward contract
 
20,218

 

 

 
20,218

Deferred compensation
 
22,393

 

 
22,393

 

Total liabilities
 
$
49,789

 
$

 
$
23,939

 
$
25,850

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