Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of fair value of outstanding derivative contracts recorded as assets

		September 30,		December 31,
Asset Derivatives	Balance Sheet Locations	2013		2012
Derivatives designated as hedging instruments under ASC 815:
Foreign exchange contracts	Other current assets	$	716	$	545
Foreign exchange contracts	Other assets	12		142

Total derivatives designated as hedging instruments under ASC 815		728		687
Derivatives not designated as hedging
instruments under ASC 815:
Foreign exchange contracts	Other current assets	854		433

Total asset derivatives		$	1,582	$	1,120

Schedule of fair value of outstanding derivative contracts recorded as liabilities

		September 30,		December 31,
Liability Derivatives	Balance Sheet Locations	2013		2012
Derivatives designated as hedging instruments under ASC 815:
Foreign exchange contracts	Accounts payable and accrued liabilities	$	366	$	191
Natural gas contracts	Accounts payable and accrued liabilities	69		360
Foreign exchange contracts	Accrued pension and other liabilities	62		61

Total derivatives designated as hedging instruments under ASC 815		497		612
Derivatives not designated as hedging Instruments under ASC 815:
Foreign exchange contracts	Accounts payable and accrued liabilities	33		34

Total liability derivatives		$	530	$	646

Schedule of gross and net amounts of derivative assets and liabilities

The gross and net amounts of derivative assets and liabilities were as follows (in thousands):

	September 30, 2013						December 31, 2012
	Fair Value of Assets			Fair Value of Liabilities			Fair Value of Assets			Fair Value of Liabilities
Gross derivative amounts recognized in the balance sheet	$	1,582		$	530		$	1,120		$	646
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting
Derivatives — foreign currency contracts	(461		)	(461		)	(286		)	(286		)
Net amount	$	1,121		$	69		$	834		$	360

Schedule of changes in accumulated OCI relating to derivative assets and liabilities that qualified for cash flow hedge accounting

	Three Months Ended			Nine Months Ended
	September 30, 2013			September 30, 2013

Accumulated OCI derivative gain or (loss) at July 1, 2013 and January 1, 2013, respectively	$	1,069		$	74
Effective portion of changes in fair value	(355		)	788
Reclassifications from accumulated OCI derivative to earnings	(269		)	(293		)
Foreign currency translation	(11		)	(135		)
Accumulated OCI derivative gain or (loss) at September 30, 2013	$	434		$	434

	Amount of Gain or (Loss)
	Recognized in OCI on Derivatives
	(Effective Portion)
	Three Months Ended
	September 30,
Derivatives in ASC 815 Cash Flow Hedging Relationships:	2013			2012

Foreign Exchange Contracts	$	(336	)	$	(301	)
Natural Gas Contracts	(19		)	67
Total	$	(355	)	$	(234	)

	Amount of Gain or (Loss)
	Recognized in OCI on Derivatives
	(Effective Portion)
	Nine Months Ended
	September 30,
Derivatives in ASC 815 Cash Flow Hedging Relationships:	2013			2012

Foreign Exchange Contracts	$	874		$	131
Natural Gas Contracts	(86		)	(217		)
Total	$	788		$	(86	)

		Amount of Gain or (Loss)
		Reclassified from Accumulated
		OCI in Income (Effective Portion) (1)
	Location of Gain or	Three Months Ended
Derivatives in ASC 815 Cash Flow	(Loss) Recognized in	September 30,
Hedging Relationships:	Income on Derivatives	2013			2012

Foreign Exchange Contracts	Cost of products sold
	(excluding depreciation)	$	339		$	196
Natural Gas Contracts	Cost of products sold
	(excluding depreciation)	(70		)	(385		)
Total		$	269		$	(189	)

		Amount of Gain or (Loss)
		Reclassified from Accumulated
		OCI in Income (Effective Portion) (1)
	Location of Gain or	Nine Months Ended
Derivatives in ASC 815 Cash Flow	(Loss) Recognized in	September 30,
Hedging Relationships:	Income on Derivatives	2013			2012

Foreign Exchange Contracts	Cost of products sold
	(excluding depreciation)	$	769		$	326
Natural Gas Contracts	Cost of products sold
	(excluding depreciation)	(476		)	(1,307		)
Total		$	293		$	(981	)

		Amount of Gain or (Loss)
		Recognized in Income on
		Derivatives (Ineffective
		Portion and Amount
		Excluded from
		Effectiveness Testing) (2)
	Location of Gain or	Three Months Ended
Derivatives in ASC 815 Cash Flow	(Loss) Recognized in	September 30,
Hedging Relationships:	Income on Derivatives	2013		2012

Foreign Exchange Contracts	Other expense — net	$	—	$	(1	)
Total		$	—	$	(1	)

		Amount of Gain or (Loss)
		Recognized in Income on
		Derivatives (Ineffective
		Portion and Amount
		Excluded from
		Effectiveness Testing) (2)
	Location of Gain or	Nine Months Ended
Derivatives in ASC 815 Cash Flow	(Loss) Recognized in	September 30,
Hedging Relationships:	Income on Derivatives	2013		2012

Foreign Exchange Contracts	Other expense — net	$	—	$	(2	)
Total		$	—	$	(2	)

(1) Assuming market rates remain constant with the rates at September 30, 2013, a gain of $0.2 million is expected to be recognized in earnings over the next 12 months.

(2) For the three and nine months ended September 30, 2013 and 2012, the amount of gain (loss) recognized in income was all attributable to the ineffective portion of the hedging relationships.

Schedule of outstanding derivative contracts

	September 30,		December 31,
(in thousands except for mmbtu)	2013		2012
Natural gas contracts (mmbtu)	395,000		235,000
Foreign exchange contracts	$	46,730	$	42,399

Schedule of fair value gains and losses on contracts not qualified for hedge accounting treatment recorded in earnings

		Amount of Gain or (Loss)
		Recognized in Income on
		Derivatives
	Location of Gain or	Three Months Ended
Derivatives Not Designated as	(Loss) Recognized in	September 30,
Hedging Instruments Under ASC 815:	Income on Derivatives	2013		2012

Foreign Exchange Contracts *	Other expense — net	$	152	$	131
Total		$	152	$	131

		Amount of Gain or (Loss)
		Recognized in Income on
		Derivatives
	Location of Gain or	Nine Months Ended
Derivatives Not Designated as	(Loss) Recognized in	September 30,
Hedging Instruments Under ASC 815:	Income on Derivatives	2013		2012

Foreign Exchange Contracts *	Other expense — net	$	833	$	501
Total		$	833	$	501

*As of September 30, 2013 and 2012, these foreign exchange contracts were entered into and settled during the respective periods.