Fair Value Measurements and Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at September 30, 2015 and December 31, 2014. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect its placement within the fair value hierarchy.

	September 30, 2015
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	11,181	$	289,062		$	—	$	300,243
Equity securities	—		23,376			—		23,376
Commingled fixed income securities	—		22,668			—		22,668
U.S. Government, federal agencies and municipalities	100,482		19,277			—		119,759
Corporate notes and bonds	—		67,128			—		67,128
Mortgage-backed / asset-backed securities	—		169,601			—		169,601
Derivatives
Foreign exchange contracts	—		2,056			—		2,056
Total assets	$	111,663	$	593,168		$	—	$	704,831
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(4,948	)	$	—	$	(4,948	)
Total liabilities	$	—	$	(4,948	)	$	—	$	(4,948	)

	December 31, 2014
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	505,643	$	193,986		$	—	$	699,629
Equity securities	—		27,409			—		27,409
Commingled fixed income securities	—		24,077			—		24,077
U.S. Government, federal agencies and municipalities	113,974		24,006			—		137,980
Corporate notes and bonds	—		67,448			—		67,448
Mortgage-backed / asset-backed securities	—		156,614			—		156,614
Derivatives
Foreign exchange contracts	—		1,386			—		1,386
Total assets	$	619,617	$	494,926		$	—	$	1,114,543
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(2,988	)	$	—	$	(2,988	)
Total liabilities	$	—	$	(2,988	)	$	—	$	(2,988	)

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale securities at September 30, 2015 and December 31, 2014 consisted of the following:

	September 30, 2015
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
U.S. Government, federal agencies and municipalities	$	118,152	$	2,558	$	(951	)	$	119,759
Corporate notes and bonds	66,537		1,235		(644		)	67,128
Mortgage-backed / asset-backed securities	167,509		2,916		(824		)	169,601
Total	$	352,198	$	6,709	$	(2,419	)	$	356,488

	December 31, 2014
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
U.S. Government, federal agencies and municipalities	$	135,839	$	2,905	$	(764	)	$	137,980
Corporate notes and bonds	66,170		1,569		(291		)	67,448
Mortgage-backed / asset-backed securities	155,330		2,362		(1,078		)	156,614
Total	$	357,339	$	6,836	$	(2,133	)	$	362,042

Available-for-sale Securities

Scheduled maturities of available-for-sale securities at September 30, 2015 were as follows:

	Amortized cost		Estimated fair value
Within 1 year	$	51,583	$	51,641
After 1 year through 5 years	70,799		71,943
After 5 years through 10 years	55,666		56,919
After 10 years	174,150		175,985
Total	$	352,198	$	356,488

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments at September 30, 2015 and December 31, 2014 was as follows:

Designation of Derivatives	Balance Sheet Location	September 30, 2015			December 31, 2014
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	$	245		$	762
	Accounts payable and accrued liabilities:	(451		)	—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	1,811			624
	Accounts payable and accrued liabilities:	(4,497		)	(2,988		)
	Total derivative assets	$	2,056		$	1,386
	Total derivative liabilities	(4,948		)	(2,988		)
	Total net derivative liabilities	$	(2,892	)	$	(1,602	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of cash flow hedging relationships for the three and nine months ended September 30,2015 and 2014:

	Three Months Ended September 30,
	Derivative Gain (Loss) Recognized in AOCL (Effective Portion)					Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)
Derivative Instrument	2015			2014			2015			2014
Foreign exchange contracts	$	(140	)	$	959	Revenue	$	211		$	429
						Cost of sales	(41		)	(42		)
							$	170		$	387
	Nine Months Ended September 30,
	Derivative Gain (Loss) Recognized in AOCL (Effective Portion)					Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCL to Earnings (Effective Portion)
Derivative Instrument	2015			2014			2015			2014
Foreign exchange contracts	$	614		$	1,465	Revenue	$	1,039		$	1,009
						Cost of sales	544			(394		)
							$	1,583		$	615

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of our non-designated derivative instruments for the three and nine months ended September 30,2015 and 2014:

		Three Months Ended September 30,
		Derivative Gain (Loss) Recognized in Earnings
Derivatives Instrument	Location of Derivative Gain (Loss)	2015			2014
Foreign exchange contracts	Selling, general and administrative expense	$	2,138		$	3,131
		Nine Months Ended September 30,
		Derivative Gain (Loss) Recognized in Earnings
Derivatives Instrument	Location of Derivative Gain (Loss)	2015			2014
Foreign exchange contracts	Selling, general and administrative expense	$	(1,437	)	$	(173	)

Fair Value, by Balance Sheet Grouping

The carrying value and estimated fair value of our debt at September 30, 2015 and December 31, 2014 were as follows:

	September 30, 2015		December 31, 2014
Carrying value	$	2,992,146	$	3,252,006
Fair value	$	3,136,917	$	3,440,383