Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Financial Instruments and Fair Value Measurements [Abstract]

Notional Amounts and Fair Values of Derivative Instruments in the Consolidated Balance

The notional amounts and fair values of derivative instruments in the consolidated balance sheets were as follows:

	Notional amounts		(A)	Prepaid expenses and other current assets / other long-term assets			Accrued expenses and other current liabilities
	December 31,			December 31,			December 31,
	2013	2012		2013	2012		2013	2012
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Forward currency contracts	$ 45,000	$ 36,500		$       -		$ 1,800	$ 263	$          -
Fixed price commodity  contracts	1,582	2,436		152		340	-	-
Fair Value Hedge:
Interest rate swap contract	$ 45,000	$ 45,000		$ 793		$ 2,212	$   -	$       -
Derivatives not designated as hedging instruments:
Forward currency  contracts	$ 13,335	$ 12,643		$       -		$      -	$ 18	$ 191
(A)    Notional amounts represent the gross contract / notional amount of the derivatives outstanding.

Amounts Recorded for the Cash Flow Hedges in Other Comprehensive Income (Loss) in Shareholders' Equity and in Net Income

Amounts recorded for the cash flow hedges in other comprehensive income (loss) in shareholders’ equity and in net income for the years ended December 31 were as follows:

								Gain (loss) reclassified from
		Gain (loss) recorded in other						other comprehensive income
		comprehensive income (loss)						(loss) into net income
		2013		2012		2011		2013		2012		2011
Derivatives designated as cash flow hedges:
Forward currency contracts	$	683	$	5,717	$	(7,118)	$	2,746	$	(241)	$	(2,960)
Fixed price commodity contracts		(1,008)		1,389		(4,686)		(820)		(2,515)		(1,122)
Total derivatives designated as cash flow hedges	$	(325)	$	7,106	$	(11,804)	$	1,926	$	(2,756)	$	(4,082)

Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliabilityof the inputs used to determine fair value.

					December 31,	December 31,
					2013	2012
			Fair value estimated using
		Fair value	Level 1 inputs (A)	Level 2 inputs (B)	Level 3 inputs (C)	Fair value
Financial assets carried at fair value:
Interest rate swap contract		$                793	$                    -	$                793	$                    -	$           2,212
Forward currency contracts		-	-	-	-	1,800
Fixed price commodity contracts		152	-	152	-	340
Total financial assets carried at fair value		$                945	$                    -	$                945	$                    -	$           4,352
Financial liabilities carried at fair value:
Forward currency contracts		$                281	$                    -	$                281	$                    -	$              191
Total financial liabilities carried at fair value		$                281	$                    -	$                281	$                    -	$              191
(A)	Fair values estimated using Level 1 inputs, which consist of quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.  The Company did not have any fair value estimates using Level 1 inputs at  December 31, 2013 or 2012.
(B)	Fair values estimated using Level 2 inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly and include among other things, quoted prices for similar assets or liabilities in markets that are active or inactive as well as inputs other than quoted prices that are observable.  For forward currency, fixed price commodity and interest rate swap contracts, inputs include foreign currency exchange rates, commodity indexes and the six-month forward LIBOR.
(C)	Fair values estimated using Level 3 inputs consist of significant unobservable inputs.  The Company did not have any fair value estimates using Level 3 inputs at December 31, 2013 or 2012.