FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2013

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 nonrecurring basis (cash and cash equivalents, goodwill, trademarks and customer relationships) as of March 31, 2013, and December 31, 2012:

			Fair value measurement on recurring basis
	Total		Quoted Prices in Activated Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
March 31, 2013
Cash and cash equivalents	$	44,012	$	44,012	$	0	$	0
December 31, 2012
Cash and cash equivalents	$	84,729	$	84,729	$	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

(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.