Hedging Activities and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Hedging Activities and Fair Value Measurements

Schedule of Notional Amounts, Fair Values and Classification of the Company's Outstanding Derivatives by Risk Category and Instrument Type


	June 30, 2011
	Balance Sheet Location	Notional Amount ⁽¹⁾		Asset Derivatives Fair Value ⁽¹⁾		Liability Derivatives Fair Value ⁽¹⁾
Derivatives designated as hedging instruments under FASB ASC 815
Interest rate swap contracts	Other liabilities	$	79,002	$	—	$	1,172

Derivatives not designated as hedging instruments under FASB ASC 815
Foreign currency forwards	Current assets	$	10,389	$	620	$	—
Foreign currency forwards	Current liabilities	$	87,788	$	499	$	2,774


	December 31, 2010
	Balance Sheet Location	Notional Amount ⁽¹⁾		Asset Derivatives Fair Value ⁽¹⁾		Liability Derivatives Fair Value ⁽¹⁾
Derivatives designated as hedging instruments under FASB ASC 815
Interest rate swap contracts	Other liabilities	$	76,742	$	—	$	1,560

Derivatives not designated as hedging instruments under FASB ASC 815
Foreign currency forwards	Accrued liabilities	$	113,871	$	709	$	1,884

(1)

Notional amounts represent the gross contract amounts of the outstanding derivatives excluding the total notional amount of positions that have been effectively closed through offsetting positions. The net gains and net losses associated with positions that have been effectively closed through offsetting positions but not yet settled are included in the asset and liability derivatives fair value columns, respectively.

Schedule of Gains and Losses on Derivatives Designated as Cash Flow Hedges


	Three Months Ended June 30,						Six Months Ended June 30,
Interest rate swap contracts ⁽¹⁾	2011			2010			2011			2010

Amount of gain or (loss) recognized in AOCI on derivatives (effective portion)	$	(292	)	$	(825	)	$	(170	)	$	(1,912	)
Amount of gain or (loss) reclassified from AOCI into income (effective portion)		(269	)		(330	)		(551	)		(711	)
Amount of gain or (loss) recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)		—			(5	)		(1	)		(5	)

(1)	Losses on derivatives reclassified from accumulated other comprehensive income ("AOCI") into income (effective portion) were included in the interest expense line on the face of the Condensed Consolidated Statements of Operations.

Schedule of Gains and (Losses) on Forward Currency Contracts Outstanding and Total Net Foreign Currency Gains and (Losses)


	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010

Foreign currency forward contracts	$	(1,586	)	$	2,188		$	(2,005	)	$	5,360
Total net foreign currency (losses) and gains ⁽¹⁾		(1,344	)		(373	)		(2,589	)		628

(1)	See Note 13 "Supplemental Information"

Schedule of Gains and (Losses), Net of Income Tax, Associated With Changes in the Fair Value of Debt


	Three Months Ended June 30,					Six Months Ended June 30,
	2011			2010		2011			2010

(Loss) gain, net of income tax, recorded through other comprehensive income	$	(317	)	$	1,566	$	(317	)	$	2,637
Balance included in accumulated other comprehensive income at June 30							(5,450	)		(2,809	)

Summary of Fair Value Hierarchy of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis


	Level 1		Level 2		Level 3		Total
Financial Assets
Foreign currency forwards ⁽¹⁾	$	—	$	1,119	$	—	$	1,119
Trading securities held in deferred compensation plan ⁽²⁾		6,334		—		—		6,334

Total	$	6,334	$	1,119	$	—	$	7,453


Financial Liabilities
Foreign currency forwards ⁽¹⁾	$	—	$	2,774	$	—	$	2,774
Interest rate swaps ⁽³⁾		—		1,172		—		1,172
Phantom stock plan ⁽⁴⁾		—		6,069		—		6,069
Deferred compensation plan ⁽⁵⁾		6,334		—		—		6,334

Total	$	6,334	$	10,015	$	—	$	16,349

(1)	Based on internally-developed models that use as their basis readily observable market parameters such as current spot and forward rates, and the LIBOR index.

(2)	Based on the observable price of publicly traded mutual funds which, in accordance with FASB ASC 710, Compensation – General, are classified as "Trading" securities and accounted for using the mark-to-market method.

(3)	Measured as the present value of all expected future cash flows based on the LIBOR-based swap yield curve as of June 30, 2011. The present value calculation uses discount rates that have been adjusted to reflect the credit quality of the Company and its counterparties.

(4)	Based on the price of the Company's common stock.

(5)	Based on the fair value of the investments in the deferred compensation plan.

- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

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+ Details

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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