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FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Summary of assets and liabilities measured at fair value on a recurring basis
The following table provides a summary of fair value assets and liabilities as of December 31, 2014 measured at fair value on a recurring basis:
Description
 
Balance as of December 31, 2014
 
Quoted Prices in
Active Markets for
Identical Assets or
Liabilities
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs (Level 3)
Assets:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
943

 
$

 
$
943

 
$

Commodity contracts
 
47

 

 
47

 

Net investment contracts
 
1,091

 

 
1,091

 

Total assets
 
$
2,081

 
$

 
$
2,081

 
$

Liabilities:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
4,573

 
$

 
$
4,573

 
$

Commodity contracts
 
69

 

 
69

 

Net investment contracts
 
469

 

 
469

 

Contingent consideration
 
6,912

 

 

 
6,912

Forward contract
 
25,268

 

 

 
25,268

Deferred compensation
 
21,839

 

 
21,839

 

Total liabilities
 
$
59,130

 
$

 
$
26,950

 
$
32,180

The following table provides a summary of fair value assets and liabilities as of December 31, 2013 measured at fair value on a recurring basis:
Description
 
Balance as of December 31, 2013
 
Quoted Prices in
Active Markets for
Identical Assets or
Liabilities
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs (Level 3)
Assets:
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
1,472

 
$

 
$
1,472

 
$

Commodity contracts
 
262

 

 
262

 

Total assets
 
$
1,734

 
$

 
$
1,734

 
$

Liabilities:
 
 

 
 

 
 

 
 

Foreign exchange contracts
 
$
447

 
$

 
$
447

 
$

Commodity contracts

 
47

 

 
47

 

Contingent consideration
 
5,375

 

 

 
5,375

Forward contract
 
16,974

 

 

 
16,974

Deferred compensation
 
20,132

 

 
20,132

 

Total liabilities
 
$
42,975

 
$

 
$
20,626

 
$
22,349