Derivative Instruments, Hedging Activities and Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

Derivative Instruments, Hedging Activities And Fair Value Disclosure [Abstract]

Schedule of fair value of outstanding derivative contracts

The fair values of outstanding derivative contracts recorded as assets and liabilities on the Condensed Consolidated Balance Sheets at September 30, 2013 and December 31, 2012 were as follows:

	Asset Derivatives			Liability Derivatives
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
September 30, 2013
Derivatives designated as hedging instruments:
Cross currency interest rate swaps	Other current assets	$	166	Other current liabilities	$	—
Cross currency interest rate swaps	Other assets	31,801		Other liabilities	12,378
Foreign currency forward exchange contracts	Other current assets	—		Other current liabilities	18
Total derivatives designated as hedging instruments		$	31,967		$	12,396
Derivatives not designated as hedging instruments:
Foreign currency forward exchange contracts	Other current assets	$	789	Other current liabilities	$	3,001

	Asset Derivatives			Liability Derivatives
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
December 31, 2012
Derivatives designated as hedging instruments:
Cross currency interest rate swaps	Other assets	$	39,058	Other liabilities	$	14,346
Derivatives not designated as hedging instruments:
Foreign currency forward exchange contracts	Other current assets	$	853	Other current liabilities	$	1,775

Schedule of effect of derivative instruments

The effect of derivative instruments on the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income for the three and nine months endedSeptember 30, 2013 and 2012 was as follows:

Derivatives Designated as Hedging Instruments

(In thousands)	Amount of  Gain (Loss) Recognized in Other Comprehensive Income  (“OCI”)  on Derivative - Effective  Portion			Location of Gain (Loss) Reclassified from Accumulated OCI into Income - Effective Portion	Amount of Gain (Loss) Reclassified  from Accumulated OCI into  Income - Effective  Portion			Location of Gain (Loss) Recognized  in Income on  Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing	Amount of  Gain (Loss)  Recognized  in Income  on Derivative - Ineffective  Portion and  Amount Excluded from Effectiveness  Testing
Three Months Ended September 30, 2013:
Foreign currency forward exchange contracts	$	(18	)	Cost of services and products sold	$	(9	)	Cost of services and products sold	$	(6	)
Cross currency interest rate swaps	(2,824		)		—			Cost of services and products sold	(19,620		)	(a)
	$	(2,842	)		$	(9	)		$	(19,626	)
Three Months Ended September 30, 2012:
Foreign currency forward exchange contracts	$	(137	)	Cost of services and products sold	$	2			$	—
Cross currency interest rate swaps	(865		)		—			Cost of services and products sold	(17,485		)	(a)
	$	(1,002	)		$	2			$	(17,485	)

(a)  These gains (losses) offset foreign currency fluctuation effects on the debt principal.

(In thousands)	Amount of  Gain (Loss)Recognized in  Other Comprehensive Income  (“OCI”)  on Derivative - Effective  Portion			Location of Gain (Loss) Reclassified from Accumulated OCI into Income - Effective Portion	Amount of Gain (Loss) Reclassified  from Accumulated  OCI into  Income - Effective  Portion			Location of Gain (Loss) Recognized  in Income on  Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing	Amount of  Gain (Loss)  Recognized  in Income  on Derivative - Ineffective  Portion and  Amount Excluded from Effectiveness  Testing
Nine Months Ended September 30, 2013:
Foreign currency forward exchange contracts	$	(18	)	Cost of services and products sold	$	(9	)	Cost of services and products sold	$	(6	)
Cross currency interest rate swaps	(3,057		)		—			Cost of services and products sold	(2,749		)	(a)
	$	(3,075	)		$	(9	)		$	(2,755	)
Nine Months Ended September 30, 2012:
Foreign currency forward exchange contracts	$	(320	)	Cost of services and products sold	$	258			$	—
Cross currency interest rate swaps	2,914				—			Cost of services and products sold	(8,740		)	(a)
	$	2,594			$	258			$	(8,740	)

(a)  These gains (losses) offset foreign currency fluctuation effects on the debt principal.

Derivatives Not Designated as Hedging Instruments

	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative for the Three Months Ended September 30 (a)
(In thousands)		2013			2012
Foreign currency forward exchange contracts	Cost of services and products sold	$	(5,076	)	$	(3,186	)

(a)  These gains (losses) offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.

	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative for the Nine Months Ended September 30 (a)
(In thousands)		2013			2012
Foreign currency forward exchange contracts	Cost of services and products sold	$	(7,125	)	$	(681	)

(a)  These gains (losses) offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.

Summary of notional amount of foreign currency exchange contracts and cross-currency interest rate swaps

The following table indicates the contractual amounts of the Company's cross currency interest rate swaps at September 30, 2013:

			Interest Rates
(In millions)	Contractual Amount		Receive	Pay
Maturing 2018	$	250.0	Fixed U.S. dollar rate	Fixed euro rate
Maturing 2020	220.0		Fixed U.S. dollar rate	Fixed British pound sterling rate
Maturing 2013 through 2017	10.9		Floating U.S. dollar rate	Fixed rupee rate

The following tables summarize, by major currency, the contractual amounts of the Company’s foreign currency forward exchange contracts in U.S. dollars at September 30, 2013 and December 31, 2012.  The “Buy” amounts represent the U.S. dollar equivalent of commitments to purchase foreign currencies, and the “Sell” amounts represent the U.S. dollar equivalent of commitments to sell foreign currencies.  The recognized gains and losses offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.

Contracted Amounts of Foreign Currency Forward Exchange Contracts Outstanding at September 30, 2013:

(In thousands)	Type	U.S. Dollar Equivalent		Maturity	Recognized Gain (Loss)
British pounds sterling	Sell	$	25,998	October 2013	$	(534	)
British pounds sterling	Buy	8,035		October 2013	50
Euros	Sell	184,091		October 2013 through January 2014	(1,870		)
Euros	Buy	128,023		October 2103 through March 2014	170
Other currencies	Sell	5,590		October 2013 through July 2014	(16		)
Other currencies	Buy	10,932		October 2013 through February 2014	(30		)
Total		$	362,669		$	(2,230	)

Contracted Amounts of Foreign Currency Forward Exchange Contracts Outstanding at December 31, 2012:

(In thousands)	Type	U.S. Dollar Equivalent		Maturity	Recognized Gain (Loss)
British pounds sterling	Sell	$	—		$	—
British pounds sterling	Buy	6,141		January 2013 through February 2013	58
Euros	Sell	264,234		January 2013 through March 2013	(1,082		)
Euros	Buy	116,618		January 2013 through February 2013	187
Other currencies	Sell	2,811		January 2013 through March 2013	(15		)
Other currencies	Buy	44,291		January 2013	(71		)
Total		$	434,095		$	(923	)

Schedule of fair value of financial instruments

The following table indicates the fair value hierarchy of the financial instruments of the Company at September 30, 2013 and December 31, 2012:

Level 2 Fair Value Measurements

(In thousands)	September 30 2013		December 31 2012
Assets
Foreign currency forward exchange contracts	$	789	$	853
Cross currency interest rate swaps	31,967		39,058
Liabilities
Foreign currency forward exchange contracts	3,019		1,775
Cross currency interest rate swaps	12,378		14,346