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Accumulated Comprehensive Loss
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
Accumulated Comprehensive Loss
Accumulated Comprehensive Loss
The components of accumulated other comprehensive loss is as follows:
 
 
December 31,
 
2012
 
2011
 
2010
 
(In thousands)
Foreign currency translation adjustments
$
2,391

 
$
2,155

 
$
1,540

Deferred loss on cash flow hedge
(6,607
)
 
(7,469
)
 
(8,331
)
Changes in pension benefit obligation recognized in other comprehensive income (loss)
—

 
(1,487
)
 
(401
)
Total accumulated other comprehensive loss
$
(4,216
)
 
$
(6,801
)
 
$
(7,192
)


Cash Flow Hedge
In July 2010, the Company entered into an interest rate swap agreement to protect itself from an increase in the market interest rate on $250 million of 10-year, fixed rate debt with the coupon to be set at market interest rates. The interest rate swap agreement was designated as a cash flow hedge under the guidance for derivatives and hedging. In August 2010, upon issuance of the related fixed-rate debt, the Company terminated and settled the interest rate swap agreement for a cash payment of $8.7 million. The Company recorded the effective portion of this deferred loss as a component of accumulated other comprehensive income (loss). The ineffective portion was calculated at less than $0.1 million and was recognized immediately as a component of earnings under interest expense in the Company’s consolidated statements of income during the year ended December 31, 2010. The effective portion of the deferred loss is being amortized over the term of the related debt as interest expense in the Company’s consolidated statements of income.