Hedging Activities and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Schedule Of Notional Amounts, Fair Values And Classification Of The Company's Outstanding Derivatives By Risk Category And Instrument Type

The following tables summarize the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Condensed Consolidated Balance Sheets:

	September 30, 2012
	Balance Sheet Location	Notional Amount (1)		Asset Derivatives Fair Value (1)		Liability Derivatives Fair Value (1)
Derivatives designated as hedging instruments
Interest rate swap contracts	Other liabilities	$	200,000	$	—	$	728
Derivatives not designated as hedging instruments
Foreign currency forwards	Other current assets	$	35,221	$	652	$	—
Foreign currency forwards	Accrued liabilities	$	14,035	$	8	$	238

	December 31, 2011
	Balance Sheet Location	Notional Amount (1)		Asset Derivatives Fair Value (1)		Liability Derivatives Fair Value (1)
Derivatives designated as hedging instruments
Interest rate swap contracts	Other liabilities	$	75,920	$	—	$	855
Derivatives not designated as hedging instruments
Foreign currency forwards	Other current assets	$	14,138	$	43	$	—
Foreign currency forwards	Accrued liabilities	$	228,338	$	150	$	2,029

(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

Gains and losses on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Operations for the three and nine-month periods ended September 30, 2012 and 2011, respectively, are as presented in the table below:

	Three Months  Ended September 30,						Nine Months  Ended September 30,
	2012			2011			2012			2011
Interest rate swap contracts (1)
Gain or (loss) recognized in AOCI on derivatives (effective portion)	$	(356	)	$	(174	)	$	(600	)	$	(344	)
Gain or (loss) reclassified from AOCI into income (effective portion)		(170	)		(257	)		(702	)		(808	)
Gain or (loss) recognized in income on derivatives (ineffective portion and amount excluded from effectiveness testing)		(1	)		(2	)		—			(3	)

(1) Losses on derivatives reclassified from accumulated other comprehensive income (“AOCI”) into income (effective portion) were included in “Interest expense” in the Condensed Consolidated Statements of Operations.

Gains and Losses on Forward Currency Contracts Outstanding and Total Net Foreign Currency Gains and Losses

The Company’s gains and (losses) on forward currency contracts outstanding and total net foreign currency gains and (losses) for the three and nine-month periods ended September 30, 2012 and 2011 were as follows:

	Three Months  Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Foreign currency forward contracts gains	$	738		$	2,747		$	684		$	742
Total net foreign currency gains(1)		(94	)		(25	)		(1,245	)		(2,614	)

(1) See Note 13 “Supplemental Information”

Gains and Losses Net of Income Tax Associated with Changes in Fair Value of Euro Term Loan and Net Balance of Such Gains and Losses Included in Accumulated Other Comprehensive Income

The Company’s gains and (losses), net of income tax, associated with changes in the fair value of this debt for the three and nine-month periods ended September 30, 2012 and 2011, and the net balance of such gains and (losses) included in accumulated other comprehensive income at September 30, 2012 and 2011 were as follows:

	Three Months  Ended September 30,					Nine Months Ended September 30,
	2012			2011		2012			2011
Gain (loss), net of income tax, recorded through other comprehensive income	$	(403	)	$	1,955	$	183		$	1,638
Balance included in accumulated other comprehensive income at September 30, 2012							(2,167	)		(3,495	)

Summary Of Fair Value Hierarchy For Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2012:

	Level 1		Level 2		Level 3		Total
Financial Assets
Foreign currency forwards (1)	$	—	$	660	$	—	$	660
Trading securities held in deferred compensation plan (2)		8,755		—		—		8,755
Total	$	8,755	$	660	$	—	$	9,415
Financial Liabilities
Foreign currency forwards (1)	$	—	$	238	$	—	$	238
Interest rate swaps (3)		—		728		—		728
Phantom stock plan (4)		—		4,569		—		4,569
Deferred compensation plan (5)		8,755		—		—		8,755
Total	$	8,755	$	5,535	$	—	$	14,290

(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 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 September 30, 2012. 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.