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FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2016
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, 2016, measured at fair value on a recurring basis:
Description
 
Balance as of
March 31, 2016
 
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
 
$
11,089

 
$

 
$
11,089

 
$

Commodity contracts
 
3

 

 
3

 

Total assets
 
$
11,092

 
$

 
$
11,092

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
2,729

 
$

 
$
2,729

 
$

Commodity contracts
 
32

 

 
32

 

Contingent consideration
 
1,761

 

 

 
1,761

Forward contract
 
28,543

 

 

 
28,543

Deferred compensation
 
24,127

 

 
24,127

 

Total liabilities
 
$
57,192

 
$

 
$
26,888

 
$
30,304

The following table provides a summary of assets and liabilities as of December 31, 2015, measured at fair value on a recurring basis:
Description
 
Balance as of December 31, 2015
 
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
 
$
803

 
$

 
$
803

 
$

Commodity contracts
 
40

 

 
40

 

Total assets
 
$
843

 
$

 
$
843

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
3,034

 
$

 
$
3,034

 
$

Commodity contracts
 
8

 

 
8

 

Contingent considerations
 
9,184

 

 

 
9,184

Forward contract
 
26,484

 

 

 
26,484

Deferred compensation
 
23,201

 

 
23,201

 

Total liabilities
 
$
61,911

 
$

 
$
26,243

 
$
35,668