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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2011
Derivative Financial Instruments [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following table summarizes the fair value of derivative instruments recorded in the consolidated balance sheets as of June 30, 2011 and December 31, 2010 (dollars in thousands):
 
 
June 30, 2011
 
December 31, 2010
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
Liability Derivatives:
 
 
 
 
 
 
 
Derivatives designated as hedges:
 
 
 
 
 
 
 
Interest rate swap agreement
Accrued expenses
 
$
4,271


 
Accrued expenses
 
$
4,202


Interest rate swap agreement
Other long-term liabilities
 
4,151


 
Other long-term liabilities
 
4,917


Total derivatives designated as hedges
 
 
$
8,422


 
 
 
$
9,119


Derivatives not designated as hedges:
 
 
 
 
 
 
 
Cross-currency swap agreement
Accrued expenses
 
$
5,778


 
Accrued expenses
 
$
5,541


Cross-currency swap agreement
Other long-term liabilities
 
7,077


 
Other long-term liabilities
 
2,091


Total derivatives not designated as hedges
 
 
$
12,855


 
 
 
$
7,632


Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The following table shows the effect of the Company’s derivative instrument designated as a cash flow hedge for the three and six months ended June 30, 2011 and 2010 in other comprehensive income/(loss) (OCI) (dollars in thousands):
 
 
Total Cash Flow Hedge
OCI Activity, Net of Tax
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2011
 
2010
 
2011
 
2010
Derivatives Designated as Cash Flow Hedges:
 
 
 
 
 
 
 
Effective portion of changes in fair value recognized in OCI:
 
 
 
 
 
 
 
Interest rate swap agreement
$
(246
)
 
$
(1,219
)
 
$
444


 
$
(1,978
)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following table shows the effect of the Company’s derivative instruments not designated as hedges for the three and six months ended June 30, 2011 in the consolidated statement of operations (dollars in thousands):
 
 
 
 
Amount Recognized in Earnings
 
Location of Amount
Recognized in
Earnings
 
Three Months Ended June 30, 2011
 
Six Months Ended June 30, 2011
Derivative Instruments Not Designated as Hedges:
 
 
 
 
 
Cross-currency swap agreement
Interest (expense)/income
 
$
(1,524
)
 
$
(2,960
)
Cross-currency swap agreement
Other income/(expense), net
 
97


 
119


 
 
 
$
(1,427
)
 
$
(2,841
)