Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value of Assets Measured on Recurring and Nonrecurring Basis

The following table sets forth by level, within the fair value hierarchy, the Company’s financial assets accounted for at fair value on a recurring and non-recurring basis (cash and cash equivalents, goodwill, trademarks and customer relationships) as of December 31, 2012, and December 31, 2011:

			Fair value measurement on a recurring basis
	Total		Quoted Prices in Activated Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
December 31, 2012
Cash and cash equivalents	$	84,729	$	84,729	$	0	$	0
December 31, 2011
Cash and cash equivalents	$	94,410	$	94,410	$	0	$	0

			Fair value measurement on a non-recurring basis
	Total		Quoted Prices in Activated Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total loss
December 31, 2012
Trademarks and Customer Relationship (1)	$	174,242	$	0	$	0	$	174,242	$	45,052
Goodwill (2)	$	213,629	$	0	$	0	$	213,629	$	327,847
December 31, 2011
Trademarks (3)	$	52,090	$	0	$	0	$	52,090	$	127,692
Goodwill (4)	$	413,231	$	0	$	0	$	413,231	$	930,127

(1) In 2012 trademarks and customer relationships with a carrying amount of $219.3 million were written down to their fair value of $174.2 million, resulting in an impairment charge of $45.1 million, which was included in earnings for the period.

(2) In 2012 goodwill with a carrying amount of $ 541.4 million was written down to its fair value of $213.6 million, resulting in an impairment charge of $327.8 million, which was included in earnings for the period.

(3) In 2011 trademarks with a carrying amount of $174.0 million (excluding currency translation adjustment of $5.8 million) were written down to their fair value of $52.1 million, resulting in an impairment charge of $127.7 million, which was included in earnings for the period.

(4) In 2011 goodwill with a carrying amount of $1,338.2 million (excluding currency translation adjustment of $5.1 million) was written down to its fair value of $413.2 million, resulting in an impairment charge of $930.1 million, which was included in earnings for the period.