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Accounts Receivable Factoring
3 Months Ended
Mar. 31, 2012
Accounts Receivable Factoring [Abstract]  
Accounts Receivable Factoring

18. Accounts Receivable Factoring

As a part of its working capital management, the Company sells certain receivables through third party financial institutions without recourse. The amount sold varies each month based on the amount of underlying receivables and cash flow needs of the Company.

At March 31, 2011 and 2012 (excluding the FMEA arrangements discussed below), the Company had $42,595 and $49,790, respectively, outstanding under receivable transfer agreements entered into by various locations. The total amount of accounts receivable factored was $24,736 and $35,043 for the three months ended March 31, 2011 and 2012, respectively. The Company incurred a loss on the sale of receivables of $274 and $403 for the three months ended March 31, 2011 and 2012, respectively. These amounts are recorded in other income, net and interest expense, net of interest income in the condensed consolidated statements of comprehensive income. These are permitted transactions under the Company's credit agreement.

As part of the FMEA joint venture, SPBT had certain factoring arrangements with and without recourse, which are included in the Company's condensed consolidated financial statements.

At March 31, 2012, the Company had $17,552 outstanding under receivable transfer agreements with recourse. The recourse amount is recorded in debt payable within one year. The total amount of accounts receivable factored was $24,539 for the three months ended March 31, 2012. The Company incurred a loss on the sale of receivables of $110 for the three months ended March 31, 2012. These amounts are recorded in other income, net and interest expense, net of interest income in the condensed consolidated statements of comprehensive income.

At March 31, 2012, the Company had $35,888 outstanding under receivable transfer agreements without recourse. The total amount of accounts receivable factored was $57,604 for the three months ended March 31, 2012. The Company incurred a loss on the sale of receivables of $206 for the three months ended March 31, 2012. These amounts are recorded in other income, net and interest expense, net of interest income in the condensed consolidated statements of comprehensive income.