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Derivative Instruments And Hedging Strategies (Tables)
 6 Months Ended
Jun. 30, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values Of Derivative Instruments
The fair values of the Company’s derivative instruments as of June 30, 2012 were as follows (in thousands): 
 
Derivative
Asset
 
Derivative
Liability
Derivatives designated as hedging instruments:
 
 
 
Interest rate swap agreements (cash flow hedges)
$
—

 
$
4,135

 
—

 
4,135

Derivatives not designated as hedging instruments:
 
 
 
Options on equities and equity indices
326

 
2,719

Forward currency exchange, option and future contracts
307

 
746

Interest rate swap agreements
—

 
2,866

Commodity swap, option and future contracts:
 
 
 
Exchange traded
1,485

 
5,160

Non-exchange traded
4,800

 
467

 
6,918

 
11,958

 
$
6,918

 
$
16,093
Recognized Gains (Losses) On Derivative Instruments Designated As Fair Value Hedges
The Company recognized gains (losses) on derivative instruments designated as fair value hedges for the six months ended June 30 as follows (in thousands):
 
Derivative losses, net
 
2012
 
2011
Forward currency exchange contracts, effective and ineffective portions
$
—

 
$
6,484

Decrease in fair value of hedged items included in property and equipment corresponding to effective portion of derivative gains
—

 
(6,522
)
 
$
—

 
$
(38
)
Recognized Gains (Losses) On Derivative Instruments Designated As Cash Flow Hedges
The Company recognized gains (losses) on derivative instruments designated as cash flow hedges for the six months ended June 30 as follows (in thousands): 
 
Other comprehensive income (loss)
 
Derivative losses, net
 
2012
 
2011
 
2012
 
2011
Interest rate swap agreements, effective portion
$
(747
)
 
$
(2,294
)
 
$
—

 
$
—

Interest rate swap agreements, ineffective portion
—

 
—

 
(19
)
 
(27
)
Reclassification of derivative losses to interest expense or equity in earnings of 50% or less owned companies
1,591

 
851

 
—

 
—

 
$
844

 
$
(1,443
)
 
$
(19
)
 
$
(27
)
Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments
The Company recognized gains (losses) on derivative instruments not designated as hedging instruments for the six months ended June 30 as follows (in thousands):
 
Derivative losses, net
 
2012
 
2011
Options on equities and equity indices
$
(910
)
 
$
332

Forward currency exchange, option and future contracts
373

 
1,812

Interest rate swap agreements
(542
)
 
(1,276
)
Commodity swap, option and future contracts:
 
 
 
Exchange traded
(1,456
)
 
(3,547
)
Non-exchange traded
1,922

 
250

U.S. Treasury notes, rate-locks and bond future and option contracts
—

 
(7,425
)
 
$
(613
)
 
$
(9,854
)