Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair-Value Measurements [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table presents the fair-value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis:

	Total fair value		Quoted prices in active markets	Significant other observable inputs
(in thousands)			(Level 1)	(Level 2)
Fair Value at March 31, 2013
Assets:
Cash equivalents	$26,095		$26,095	$ -
Common stock of foreign public company	543		543	-
Liabilities:
Interest rate swap	(4,261	)	-	(4,261	)
Fair Value at December 31, 2012
Assets:
Cash equivalents	$33,171		$33,171	$ -
Common stock of foreign public company	562		562	-
Liabilities:
Interest rate swap	(4,718	)	-	(4,718	)

Schedule of Fair Value of Derivative Instruments

Fair value amounts of derivative instruments were as follows:

(in thousands)	Balance sheet caption	March 31, 2013	December 31, 2012
Liability Derivatives
Derivatives designated as hedging instruments:
Interest rate swap	Other noncurrent liabilities	($4,261)	($4,718)
Total liability derivatives		($4,261)	($4,718)
Total derivatives		($4,261)	($4,718)

Schedule of (Losses)/Gains on Changes in Fair Value of Derivative Instruments

Gains/(losses) on changes in fair value of derivative instruments were as follows:

	Three months ended March 31,
(in thousands)	2013	2012
Derivatives designated as hedging instruments
Interest rate swap 1	$279	($211)
Derivatives not designated as hedging instruments
Forward exchange options 2	-	(1)

1 Unrealized losses are recognized in Other comprehensive income, net of tax. This derivative was a 100% effective hedge of interest rate cash flow risk for the quarter ended March 31, 2013.

2 Gains/(losses) are recognized in Other expense, net.