Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v2.4.0.8
Financial Instruments And Risk Management (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedges, Assets [Abstract]  
Gross Notional Amount Of Outstanding Derivative Instruments
The following table presents the gross notional amount of outstanding derivative instruments (in thousands): 
 
June 30,
2013
 
December 31,
2012
 
June 30,
2012
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
71,500

 
$
70,000

 
$
78,250

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
77,000

 
121,934

 
117,584

Balance Sheet Classification And Fair Value Of Derivative Instruments
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands):
 
 
Balance Sheet Classification
 
June 30,
2013
 
December 31,
2012
 
June 30,
2012
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
2,516

 
$
2,147

 
$
3,993

Currency forward contracts
 
Other non-current assets
 
343

 
489

 
—

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
262

 
579

 
225

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
1,855

 
4,072

 
3,553

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
460

 
743

 
1,675


Effect And Classification Of Derivative Instruments
The following table presents the effect and classification of derivative instruments (in thousands):
 
 
Statement of
Operations
Classification
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2013
 
2012
 
2013
 
2012
Currency Forward Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain recognized in other comprehensive income or loss
 
—
 
$
727

 
$
1,763

 
$
2,880

 
$
593

Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
766

 
481

 
1,626

 
792

Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance
 
Cost of sales
 
—

 
—

 
—

 
441

Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
(2
)
 
(95
)
 
(45
)
 
(4
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain recognized in income
 
Other non-operating expense
 
2,663

 
—

 
6,012

 
—

Loss recognized in income
 
Selling, general and administrative expense
 
—

 
(3,480
)
 
—

 
(6,253
)