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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2012

Carrying Amount And Estimated Fair Value Of Financial Instruments


	March 31, 2012				December 31, 2011
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
(DOLLARS IN THOUSANDS)
Cash and cash equivalents ⁽¹⁾	$	76,526	$	76,526	$	88,279	$	88,279
Credit facilities and bank overdrafts ⁽²⁾		135,068		135,068		158,971		158,971
Long-term debt: ⁽³⁾
Senior notes - 2007		500,000		594,000		500,000		617,000
Senior notes - 2006		225,000		247,000		225,000		250,000

The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:

(1)	The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments.

(2)	The carrying amount of our credit facilities and bank overdrafts approximates fair value as the interest rate is based on current market rates as well as the short maturity of those instruments.

(3)	The fair value of our long-term debt was calculated using discounted cash flows applying current interest rates and current credit spreads based on our own credit risk.

Derivative Instruments Notional Amount Outstanding


(DOLLARS IN THOUSANDS)	March 31, 2012		December 31, 2011
Forward currency contracts	$	120,171	$	147,078
Interest rate swaps	$	100,000	$	100,000

Derivative Instruments Measured At Fair Value


	March 31, 2012
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments			Fair Value of Derivatives Not Designated as Hedging Instruments			Total Fair Value

Derivative assets^(a)
Foreign currency contracts	$	2,949		$	2,563		$	5,512
Interest rate swaps		474			-			474

	$	3,423		$	2,563		$	5,986

Derivative liabilities ^(b)
Foreign currency contracts	$	(3,114	)	$	(2,199	)	$	(5,313	)

	December 31, 2011
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments			Fair Value of Derivatives Not Designated as Hedging Instruments			Total Fair Value

Derivative assets^(a)
Foreign currency contracts	$	9,333		$	5,473		$	14,806
Interest rate swaps		286			-			286

	$	9,619		$	5,473		$	15,092

Derivative liabilities ^(b)
Foreign currency contracts	$	(3,368	)	$	(2,054	)	$	(5,422	)

^(a) Derivative assets are recorded to Prepaid expenses and other current assets in the Consolidated Balance Sheet.

^(b) Derivative liabilities are recorded as Other current liabilities in the Consolidated Balance Sheet.

Derivative Instruments Which Were Not Designated As Hedging Instruments


Derivatives Not Designated as Hedging Instruments	Amount of (Loss) Gain Recognized in Income on Derivative For the three months ended March 31,					Location of (Loss) Gain Recognized in Income on Derivative
	2012		2011

Foreign currency contracts	$	519	$	(9,551	)	Other (income) expense, net

Derivative Instruments Designated As Cash Flow And Net Investment Hedging Instruments


	Amount of (Loss) Gain Recognized in OCI on Derivative (Effective Portion)						Location of (Loss) Gain Reclassified from AOCI into Income (Effective Portion)	Amount of (Loss) Gain Reclassified from Accumulated OCI into Income (Effective Portion)

	For the three months ended March 31,							For the three months ended March 31,
	2012			2011				2012			2011

Derivatives in Cash Flow Hedging Relationships:

Cross currency swap ⁽¹⁾	$	762		$	577		Other (income) expense, net	$	(727	)	$	(525	)
Forward currency contracts		(1,539	)		(2,665	)	Cost of goods sold		(227	)		(997	)

Derivatives in Net Investment Hedging Relationships:

Forward currency contracts		(503	)		(1,451	)	N/A		-			-


Total	$	(1,280	)	$	(3,539	)		$	(954	)	$	(1,522	)

⁽¹⁾ Ten year swap executed in 2003

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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