Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding derivative positions

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

June 30, 2013
Derivative Contract Type	Number of Outstanding Contracts	Notional Amounts		Fair Value Asset (Liability), Net (3)			Balance Sheet Line Item	Unrealized Loss Recorded in OCI
Interest rate swap (1)	1	$	200,000	$	(7,725	)	Other liabilities	$	(4,635	)
Foreign currency forwards (2)	38	24,000		(52		)	Accrued Liabilities	—
Total	39	$	224,000	$	(7,777	)		$	(4,635	)

December 31, 2012
Derivative Contract Type	Number of Outstanding Contracts	Notional Amounts		Fair Value Asset (Liability), Net (3)			Balance Sheet Line Item	Unrealized Loss Recorded in OCI
Interest rate swap (1)	1	$	200,000	$	(10,000	)	Other liabilities	$	(6,010	)
Foreign currency forwards (2)	68	76,100		4			Current assets	—
Total	69	$	276,100	$	(9,996	)		$	(6,010	)

(1) This swap has been designated, and is accounted for, 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 deferred and are recorded in OCI, net of tax effect.

(2) 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 currency. 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 expense, net since the Company does not designate these contracts as hedges for accounting purposes. The majority of the outstanding contracts at June 30, 2013 matured by the end of July 2013.

(3) See Note 11 — Fair Value Disclosures for the determination of the fair value of these instruments.

Schedule of derivative instruments, gain (loss) in statement of financial performance

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					Six Months Ended
	June 30,					June 30,
Amount recorded in:	2013		2012			2013		2012
Interest expense, net (1)	$	1,008	$	903		$	1,947	$	1,750
Other expense (income), net (2)	85		(353		)	158		(599		)
Total expense, net	$	1,093	$	550		$	2,105	$	1,151

(1) Consists of interest expense from an interest rate swap contract.

(2) Consists of realized and unrealized gains and losses on foreign currency forward contracts.