Other (Expense) Income, Net

3 Months Ended

Mar. 31, 2012

Other (Expense) Income, Net [Abstract]

Other (Expense) Income, Net

NOTE 10 — OTHER (EXPENSE) INCOME, NET

Other (expense) income, net consists of the following (in thousands):

	Three Months Ended March 31
	2012			2011
Interest income	$	525		$	537
Interest expense		(1,131	)		(980	)
Foreign currency gains, net (1)		1,557			3,103
Foreign currency contracts losses, net (2)		(1,743	)		(1,613	)
Other (expense) income		(82	)		109
Total other (expense) income, net	$	(874	)	$	1,156

(1) Our foreign currency gains, net are predominantly attributable to the re-measurement gains or losses on our net balances of monetary assets and liabilities in our foreign subsidiaries which were primarily denominated in the Euro, and to a lesser extent, the British Pound and Canadian Dollar. The foreign currency re-measurement adjustments to these balance sheet items are calculated by comparing the currency spot rates at the end of a month to the spot rates at the end of the previous month.

(2) Relates to changes in fair value of our forward foreign currency contracts not designated as hedging instruments. See Note 15 — Derivative Instruments for further details.