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Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of outstanding derivative positions
The following tables provide information regarding the Company’s outstanding derivatives contracts as of the dates indicated (in thousands, except for number of outstanding contracts):
March 31, 2014
 
 
 
 
 
 
 
 
 
 
Derivative Contract Type
 
Number of
Outstanding
Contracts
 
Notional
Amounts
 
Fair Value
Asset
(Liability), Net (3)
 
Balance
Sheet
Line Item
 
Unrealized
Loss Recorded
in OCI
Interest rate swap (1)
 
1

 
$
200,000

 
$
(5,720
)
 
Other liabilities
 
$
(3,433
)
Foreign currency forwards (2)
 
22

 
10,270

 
(5
)
 
Accrued liabilities
 
—

Total
 
23

 
$
210,270

 
$
(5,725
)
 
 
 
$
(3,433
)
December 31, 2013
 
 
 
 
 
 
 
 
 
 
Derivative Contract Type
 
Number of
Outstanding
Contracts
 
Notional
Amounts
 
Fair Value
Asset
(Liability), Net (3)
 
Balance
Sheet
Line Item
 
Unrealized
Loss Recorded
in OCI
Interest rate swap (1)
 
1

 
$
200,000

 
$
(6,505
)
 
Other liabilities
 
$
(3,903
)
Foreign currency forwards (2)
 
89

 
61,325

 
(60
)
 
Accrued liabilities
 
—

Total
 
90

 
$
261,325

 
$
(6,565
)
 
 
 
$
(3,903
)
 
 
(1)
This swap has been designated, and is accounted for, as a cash flow hedge of the forecasted interest payments on borrowings (see Note 7 — Debt). As a result, changes in fair value of this swap are deferred and are recorded in OCI, net of tax effect.

(2)
The Company has foreign exchange transaction risk since it typically enters into transactions in the normal course of business that are denominated in foreign currencies that differ from the local functional currency. The Company enters into short-term foreign currency forward exchange contracts to offset the economic effects of these foreign currency transaction risks. These forward exchange contracts are accounted for at fair value with realized and unrealized gains and losses recognized in Other expense, net. Substantially all of the contracts outstanding at March 31, 2014 matured by the end of April 2014.

(3)
See Note 11 — Fair Value Disclosures for the determination of the fair value of these instruments.
Schedule of derivative instruments, gain (loss) in statement of financial performance
The following table provides information regarding derivative gains and losses that have been recognized in the Condensed Consolidated Statements of Operations for the periods indicated (in thousands):
 
 
Three Months Ended
 
 
March 31,
Amount recorded in:
 
2014
 
2013
Interest expense, net (1)
 
$
1,004

 
$
940

Other expense (income), net (2)
 
(114
)
 
73

Total expense, net
 
$
890

 
$
1,013

 
(1)
Consists of interest expense from an interest rate swap contract.

(2)
Consists of realized and unrealized gains and losses on foreign currency forward contracts.