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DERIVATIVES (Tables)
12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets
Fair values of derivative instruments in the Company's Consolidated Balance Sheets follow:
 
 
December 31, 2013
 
December 31, 2012
Derivatives by hedge designation
 
Other
Current
Assets
 
Other
Current
Liabilities
 
Other
Current
Assets
 
Other
Current
Liabilities
Designated as hedging instruments:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
706

 
$
219

 
$
352

 
$
325

Not designated as hedging instruments:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
766

 
228

 
510

 
902

Commodity contracts
 
262

 
47

 
731

 

Total derivatives
 
$
1,734

 
$
494

 
$
1,593

 
$
1,227

Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income
The effects of undesignated derivative instruments on the Company's Consolidated Statements of Income for the years ended December 31, 2013 and 2012 consisted of the following:
 
 
 
 
Year Ended December 31,
Derivatives by hedge designation
 
Classification of gains (losses)
 
2013
 
2012
Not designated as hedges:
 
 
 
 
 
 
Foreign exchange contracts
 
Selling, general & administrative expenses
 
$
215

 
$
3,711

Commodity contracts
 
Cost of goods sold
 
2,882

 
(1,117
)
Schedule of effects of designated cash flow hedges on AOCI and the entity's Consolidated Statements of Income
The effects of designated cash flow hedges on AOCI and the Company's Consolidated Statements of Income for the years ended December 31, 2013 and 2012 consisted of the following:
 
 
December 31,
Total gain recognized in AOCI, net of tax
 
2013
 
2012
Foreign exchange contracts
 
$
369

 
$
80

The Company expects a gain of $369 related to existing contracts to be reclassified from AOCI, net of tax, to earnings over the next 12 months as the hedged transactions are realized.
 
 
 
 
Year Ended December 31,
Derivative type
 
Gain (loss) reclassified from AOCI to:
 
2013
 
2012
Foreign exchange contracts
 
Sales
 
$
619

 
$
931

 
 
Cost of goods sold
 
418

 
234

Net investment contracts
 
Selling, general & administrative expenses
 
(67
)