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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Estimated fair value of the contracts in the consolidated balance sheets

The Company has not designated any of the foreign exchange contracts outstanding as hedges and has recorded the estimated fair value of the contracts in the consolidated balance sheets as follows:

	March 31,			December 31,
(in thousands)	2013				2012

Asset derivatives
Prepaid expenses and other current assets	$	718			$	296
Other assets		30				20
		748				316
Liability derivatives
Other current liabilities		(155	)			(190	)
Other liabilities		(70	)			(149	)
		(225	)			(339	)

Net fair value	$	523			$	(23	)

Gain (loss) from derivative instruments

For the three months ended March 31, 2013 and 2012, the Company recognized a net gain on its derivative instruments as outlined below:

	Three Months ended
	March 31,
(in thousands)	2013			2012


Foreign exchange contracts- change in fair value	$	549		$	186
Remeasurement of related contract
receivables, billings in excess of
revenue earned, and subcontractor
accruals		(282	)		214

Gain on derivative instruments, net	$	267		$	400

- 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 the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details