XML 91 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2013
Derivative and Other Financial Instrument [Abstract]  
Schedule of Derivative Instruments
The foreign currency financial instrument liabilities at September 30, 2013 and December 31, 2012 are as follows:
 
 
September 30, 2013
 
December 31, 2012
Currency
 
Carrying Amount
 
Notional Amount
 
Carrying Amount
 
Notional Amount
Japanese Yen
 
$
1,532

 
¥150,481
 
$
1,695

 
¥146,991
Pound Sterling
 
23,100

 
£14,270
 
23,047

 
£14,186
Total
 
$
24,632

 
 
 
$
24,742

 
 
Change in Financial Instrument Balance
Information is summarized below for foreign currency financial liabilities and related restricted cash:
Foreign exchange transactions:
 
September 30,
 
 
2013
 
2012
Balance, beginning of year
 
$
24,742

 
$
23,736

Net investment (gains) losses
 
(274
)
 
848

Receipt of dividends, net of interest expense
 
134

 
149

Other
 
30

 

Balance of foreign currency financial instruments liability and related restricted cash, end of period (a)
 
$
24,632

 
$
24,733

(a) The financial instruments payable in foreign currencies are entered into with a counterparty and are considered Level 2 measurements. Carrying value approximates fair value.
Schedule of Outstanding Forward or Future Contracts with Settlement Dates [Table Text Block]
As of September 30, 2013, the Company had the following outstanding future contracts with settlement dates ranging from October to December 2013:
Commodity
Amount
Notional Value
Silver
760,000 ounces
$
16,600

Gold
900 ounces
$
1,200

Copper
400,000 pounds
$
1,300

Tin
45 metric tons
$
1,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
Fair Value of Derivative Instruments in the Consolidated Balance Sheets:
Derivative
 
Balance Sheet Location
 
September 30, 2013
 
December 31, 2012
Foreign currency financial instruments (a)
 
Financial instruments
 
$
24,632

 
$
24,742

Commodity contracts (a), (b)
 
Prepaid and other current assets
 
$
1,397

 
$
(127
)
Commodity contracts (a)
 
Other current liabilities
 
$

 
$
27

Interest rate swap agreement (a)
 
Other current liabilities
 
$
(211
)
 
$

Derivative features of subordinated notes (a)
 
Long-term debt
 
$

 
$
(184
)

(a) Carrying amount equals fair value.
(b) Includes $961 designated as hedging instruments as of September 30, 2013.

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
Effect of derivative instruments on the Consolidated Statements of Operations:
 
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
 
 
2013
 
2012
 
2013
 
2012
Derivative
 
Statement of Operations Location
 
Gain (loss)
 
Gain (loss)
 
Gain (loss)
 
Gain (loss)
Foreign currency financial instruments (a)
 
Net investment gains
 
$
(1,410
)
 
$
(682
)
 
$
274

 
$
(848
)
Commodity contracts (a)
 
Cost of goods sold
 
(1,543
)
 

 
1,083

 

Commodity contracts (b)
 
Realized and unrealized gain on derivatives
 
(351
)
 
(1,036
)
 
1,495

 
(284
)
Interest rate swap agreements (b)
 
Interest expense
 
(161
)
 

 
(265
)
 

Derivative features of subordinated notes (b)
 
Realized and unrealized gain on derivatives
 

 
(98
)
 
(793
)
 
691

Total derivatives
 
 
 
$
(3,465
)
 
$
(1,816
)
 
$
1,794

 
$
(441
)
(a) Designated as hedging instruments.
(b) Not designated as hedging instruments.