Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2011

Outstanding Derivatives Contracts

The following tables provide information regarding the Company’s outstanding derivatives contracts (in thousands, except for number of outstanding contracts):

June 30, 2011
Derivative Contract Type	Number of Outstanding Contracts		Contract Notional Amounts		Fair Value Asset (Liability) (4)			Balance Sheet Line Item	Unrealized Loss Recorded in OCI
Interest Rate Swap (1)		1	$	200,000	$	(4,988	)	Accrued liabilities	$	(3,000	)
Interest Rate Swaps (2)		2		92,250		(1,556	)	Accrued liabilities		—
Foreign Currency Forwards (3)		18		83,500		(331	)	Accrued Liabilities		—
Total		21	$	375,750	$	(6,875	)		$	(3,000	)
December 31, 2010
Derivative Contract Type	Number of Outstanding Contracts		Contract Notional Amounts		Fair Value Asset (Liability) (4)			Balance Sheet Line Item	Unrealized Loss Recorded in OCI (1)
Interest Rate Swap (1)		1	$	200,000	$	(2,101	)	Other liabilities	$	(1,261	)
Interest Rate Swaps (2)		2		147,750		(3,966	)	Other liabilities		—
Foreign Currency Forwards (3)		63		250,220		618		Other current assets		—
Total		66	$	597,970	$	(5,449	)		$	(1,261	)

(1)	The Company entered into this swap on December 22, 2010. The Company designated and accounts for this swap as a cash flow hedge of the forecasted interest payments on borrowings (see Note 7 — Debt). As a result, changes in fair value of this swap are recognized in Other Comprehensive Income (“OCI”), net of tax.
(2)	Changes in fair value of these swaps are recognized in earnings. Both swaps mature in January 2012.
(3)	The Company has foreign exchange transaction risk since it typically enters into transactions in the normal course of business that are denominated in foreign currencies that differ from the local functional currencies. The Company enters into short-term foreign currency forward exchange contracts to offset the economic effects of these foreign currency transaction risks. These contracts are accounted for at fair value with realized and unrealized gains and losses recognized in Other income (expense), net since the Company does not designate these contracts as hedges for accounting purposes. All of the outstanding contracts at June 30, 2011 matured by the end of July 2011.
(4)	See Note 11 — Fair Value Disclosures for the determination of the fair value of these instruments.

Derivative Gains and Losses that have been Recognized in the Condensed Consolidated Statements of Operations

The following table provides information regarding derivative gains and losses that have been recognized in the Condensed Consolidated Statements of Operations for the periods indicated (in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
Amount recorded in:	2011		2010			2011		2010
Interest expense, net (1)	$	1,040	$	1,875		$	2,078	$	4,318
Other expense (income), net (2)		676		(2,184	)		3,770		(2,910	)
Total expense (income), net	$	1,716	$	(309	)	$	5,848	$	1,408

(1)	Includes interest expense (income) recorded on the Company’s interest rate swap contracts.
(2)	Includes realized and unrealized gains and losses on foreign currency forward contracts.