Annual report pursuant to Section 13 and 15(d)

Financial Instruments and Risk Management (Tables)

v2.4.0.6
Financial Instruments and Risk Management (Tables)
 12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Gross Notional Amount of Outstanding Derivatives
The following table presents the gross notional amount of outstanding derivative instruments (in thousands):
 
 
December 31,
 
 
2012
 
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
Currency forward contracts
 
$
70,000

 
$
144,000

Derivative instruments not designated as hedges:
 
 
 
 
Currency forward contracts
 
121,934

 
138,807

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):
 
 
 
 
December 31,
 
 
Balance Sheet Classification
 
2012
 
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
2,147

 
$
6,591

Currency forward contracts
 
Other non-current assets
 
489

 
1,117

Derivative instruments in liability positions:
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
579

 
824

Currency forward contracts
 
Other long-term liabilities
 
—

 
91

Derivative instruments not designated as hedges:
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
4,072

 
645

Derivative instruments in liability positions:
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
743

 
2,962

Effect and Classification of Derivative Instruments
The following table presents the effect and classification of derivative instruments for the years ended December 31, 2012, 2011 and 2010 (in thousands):
 
 
 
 
For the Year Ended
 December 31,
 
 
Statement Of Operations Classification
 
2012
 
2011
 
2010
Currency Forward Contracts:
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain recognized in other comprehensive income, net of tax
 
—
 
$
753

 
$
3,489

 
$
1,167

Gain (Loss) reclassified from accumulated other comprehensive income to income for the effective portion
 
Cost of sales
 
5,908

 
(6,862
)
 
1,789

Gain reclassified from accumulated other comprehensive income 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
 
(40
)
 
(1,889
)
 
(230
)
Derivative instruments not designated as hedges:
 
 
 
 
 
 
 
 
Loss recognized in income
 
Cost of sales
 
—

 
—

 
(130
)
Gain (Loss) recognized in income
 
Selling, general and administrative expense
 
(1,841
)
 
1,216

 
(54
)