Derivative Instruments And Hedging Activities

12 Months Ended

Dec. 31, 2011

Derivative Instruments And Hedging Activities [Abstract]

Derivative Instruments And Hedging Activities

Note 9 – Derivative Instruments and Hedging Activities

The Company is exposed to certain risks related to its ongoing business operations, including market risks related to fluctuation in currency exchange. The Company uses foreign exchange contracts to manage the risk of certain cross-currency business relationships to minimize the impact of currency exchange fluctuations on the Company's earnings and cash flows. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. As of December 31, 2011, the foreign exchange contracts designated as hedging instruments did not have a material impact on the Company's statement of operations, balance sheet or cash flows. Foreign exchange contracts not designated as hedging instruments which primarily pertain to foreign exchange fluctuation risk of intercompany positions, had a notional value of $155 million and $184 million as of December 31, 2011 and 2010, respectively. The settlement of derivative contracts for the years ended December 31, 2011, 2010 and 2009 resulted in a net cash outflow of $4.7 million and $10.2 million and a net cash inflow of $2.0 million, respectively, and is reported with "Total cash provided from operating activities" on the Consolidated Statements of Cash Flows.