Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v2.4.0.6
Financial Instruments And Risk Management (Tables)
 6 Months Ended
Jun. 30, 2012
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,
2012
 
December 31,
2011
 
June 30,
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
78,250

 
$
144,000

 
$
157,725

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
117,584

 
138,807

 
73,625

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,
2012
 
December 31,
2011
 
June 30,
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
3,993

 
$
6,591

 
$
108

Currency forward contracts
 
Other non-current assets
 
—

 
1,117

 
—

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
225

 
824

 
5,750

Currency forward contracts
 
Other long-term liabilities
 
—

 
91

 
—

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
3,553

 
$
645

 
$
110

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
1,675

 
2,962

 
1,931


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,
 
 
 
2012
 
2011
 
2012
 
2011
Currency Forward Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Gain (loss) recognized in other comprehensive income or loss
 
—
 
$
1,763

 
$
(2,651
)
 
$
593

 
$
(5,594
)
Gain (loss) reclassified from accumulated other comprehensive income or loss to income or loss for the effective portion
 
Cost of sales
 
481

 
(500
)
 
792

 
(868
)
Gain reclassified from accumulated other comprehensive income or loss to income or loss as a result of cash flow hedge discontinuance
 
Cost of sales
 
—

 
—

 
441

 
—

Loss recognized in income or loss for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
(95
)
 
(457
)
 
(4
)
 
(646
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Gain (loss) recognized in income or loss
 
SG&A
 
(3,480
)
 
97

 
(6,253
)
 
4,759