Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities

Schedule of notional amount of foreign currency forward contracts

		Notional Amount
Foreign Currency		March 31, 2012		December 31, 2011
Australian Dollar	$	33,102	$	17,169
British Pound		40,980		53,764
Canadian Dollar		84,425		67,281
Euro		791,522		714,446
Japanese Yen		36,864		606,538
Swiss Franc		43,882		49,182
Total	$	1,030,775	$	1,508,380

Schedule of fair value and balance sheet location of derivative instruments

	March 31, 2012
	Asset Derivatives				Liability Derivatives
	Balance Sheet				Balance Sheet
Instrument	Location	Fair Value			Location	Fair Value
Foreign currency forward contracts designated as hedging instruments*	Other current assets Other current liabilities Other non-current assets Other non-current liabilities	$		36,811 606 5,837 83	Other current assets Other current liabilities Other non-current assets Other non-current liabilities	$	16,331 1,663 2,757 2,934
Foreign currency forward contracts not designated as hedging  instruments*	Other current assets Other current liabilities Other non-current assets	55,574 349 19,045			Other current assets Other current liabilities Other non-current assets	8,411 7,478 15,757
Total		$		118,305		$	55,331
	December 31, 2011
	Asset Derivatives				Liability Derivatives
	Balance Sheet				Balance Sheet
Instrument	Location	Fair Value			Location	Fair Value
Foreign currency forward contracts designated as hedging instruments*	Other current assets Other current liabilities Other non-current liabilities	$	68,889 129 -		Other current assets Other current liabilities Other non-current liabilities	$		32,430 3,940 24,832
Foreign currency forward contracts not designated as hedging instruments*	Other current assets Other current liabilities Other non-current assets	66,639 2,462 36,684			Other current assets Other current liabilities Other non-current assets	10,395 22,289 32,356
		$	174,803			$		126,242
Total

*Derivative instruments in this category are subject to master netting arrangements and are presented on a net basis in the Consolidated Balance Sheets in accordance with ASC 210-20.

Schedule of effect of derivative instruments designated as hedging instruments on Consolidated Statements of Income

		March 31, 2012
		Amount of Gain/(Loss) Recognized in OCI on Derivative		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income		Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	Location of Gain/(Loss) Recognized in Income on Derivative		Amount of Gain/(Loss) Recognized in Income on Derivative
Instrument		(Effective Portion)		(Effective Portion)		(Effective Portion)	(Ineffective Portion and Amount Excluded  From Effectiveness Testing)		(Ineffective Portion  and Amount Excluded From Effectiveness Testing)
Foreign currency forward contracts	$	23,534	(1)	Net product sales	$	19,056	Other income, net	$	(1,878)	(2)

(1)Gains of $27,612 are expected to be reclassified from Accumulated OCI into operations in the next 12 months.

(2)The amount of net losses recognized in income represents $4,445 in losses related to the ineffective portion of the hedging relationships and $2,567 of gains related to amounts excluded from the assessment of hedge effectiveness.

		March 31, 2011
		Amount of Gain/(Loss) Recognized in OCI on Derivative	Location of Gain/(Loss) Reclassified from Accumulated OCI into Income		Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	Location of Gain/(Loss) Recognized in Income on Derivative		Amount of Gain/(Loss) Recognized in Income on Derivative
Instrument		(Effective Portion)	(Effective Portion)		(Effective Portion)	(Amount Excluded From Effectiveness Testing)		(Amount Excluded From Effectiveness Testing)
Foreign currency forward contracts	$	(25,955)	Net product sales	$	4,569	Other income, net	$	3,160	(1)
Interest rate swaps		-	Interest expense	$	984

(1)The amount of net gain recognized in income represents $80 in losses related to the ineffective portion of the hedging relationships and $3,240 of gains related to amounts excluded from the assessment of hedge effectiveness.

Schedule of effect of derivative instruments not designated as hedging instruments on Consolidated Statements of Income

	Location of Gain (Loss)	Amount of Gain (Loss)
	Recognized in Income	Recognized in Income on Derivative March 31,
Instrument	on Derivative	2012		2011
Foreign currency forward contracts	Other income, net	$	(7,883)	$	(28,951)