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)
 9 Months Ended
Sep. 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): 
 
September 30,
2012
 
December 31,
2011
 
September 30,
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
97,925

 
$
144,000

 
$
156,025

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
89,462

 
138,807

 
63,210

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
 
September 30,
2012
 
December 31,
2011
 
September 30,
2011
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
2,170

 
$
6,591

 
$
7,449

Currency forward contracts
 
Other non-current assets
 
—

 
1,117

 
—

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
580

 
824

 
1,124

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
 
$
582

 
$
645

 
$
908

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
1,640

 
2,962

 
1,461


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 September 30,
 
Nine Months Ended September 30,
 
 
 
2012
 
2011
 
2012
 
2011
Currency Forward Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in other comprehensive income or loss
 
—
 
$
(736
)
 
$
7,973

 
$
(143
)
 
$
2,379

Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
3,219

 
(4,568
)
 
4,011

 
(5,436
)
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
 
(12
)
 
(940
)
 
(16
)
 
(1,586
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in income
 
Selling, general and administrative expense
 
(881
)
 
(1,541
)
 
(7,134
)
 
3,218