DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables demonstrate the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2014 and 2013.

		Three Months Ended September 30,
	Income Statement Location	2014			2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)	$	(2,537	)	$	2,602
	Other operating (income) expense	—			619
Foreign currency option contracts	Other comprehensive income (loss)	(2,227		)	832
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating (income) expense	$	—		$	(360	)
Foreign currency option contracts	Other operating (income) expense	—			(480		)
Interest rate swaps	Interest and miscellaneous (expense) income, net	(1,765		)	2,079
Fuel hedge contracts	Cost of sales (benefit)	(62		)	162

		Nine Months Ended September 30,
	Income Statement Location	2014			2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)	$	(1,868	)	$	1,093
	Other operating (income) expense	—			619
Foreign currency option contracts	Other comprehensive income (loss)	(2,006		)	468
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating (income) expense	$	25		$	(1,786	)
Foreign currency option contracts	Other operating (income) expense	7			1,011
Interest rate swaps	Interest and miscellaneous (expense) income, net	(3,628		)	4,729
Fuel hedge contracts	Cost of sales (benefit)	163			14

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets:

	Notional Amount
	September 30, 2014		December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	$	24,810	$	32,300
Foreign currency option contracts	70,500		38,000
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	$	—	$	1,950
Foreign currency option contracts	—		4,000
Interest rate swaps	180,858		183,851
Fuel hedge contracts (in thousands of barrels)	1		38

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets:

	Location on Balance Sheet	Fair Value Assets (Liabilities) (a)
		September 30, 2014			December 31, 2013
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Prepaid and other current assets	$	—		$	915
	Other current liabilities	(696		)	—
	Other non-current liabilities	(181		)	—
Foreign currency option contracts	Prepaid and other current assets	134			673
	Other assets	89			—
	Other current liabilities	(1,555		)	(214		)
	Other non-current liabilities	(164		)	—
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Prepaid and other current assets	$	—		$	25
Foreign currency option contracts	Prepaid and other current assets	—			8
Interest rate swaps	Other non-current liabilities	(5,519		)	(4,659		)
Fuel hedge contracts	Prepaid and other current assets	—			160
	Other current liabilities	(3		)	—
Total derivative contracts:
Prepaid and other current assets		$	134		$	1,781
Other assets		89			—
Total derivative assets		223			1,781
Other current liabilities		(2,254		)	(214		)
Other non-current liabilities		(5,864		)	(4,659		)
Total derivative liabilities		$	(8,118	)	$	(4,873	)

(a) See Note 11 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.