Fair Value Measurements and Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at September 30, 2014 and December 31, 2013. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect its placement within the fair value hierarchy.

	September 30, 2014
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	238,103	$	220,814		$	—	$	458,917
Equity securities	—		26,419			—		26,419
Commingled fixed income securities	—		23,853			—		23,853
Debt securities - U.S. and foreign governments, agencies and municipalities	112,511		21,781			—		134,292
Debt securities - corporate	—		65,813			—		65,813
Mortgage-backed / asset-backed securities	—		150,974			—		150,974
Derivatives
Foreign exchange contracts	—		3,090			—		3,090
Total assets	$	350,614	$	512,744		$	—	$	863,358
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(377	)	$	—	$	(377	)
Total liabilities	$	—	$	(377	)	$	—	$	(377	)

	December 31, 2013
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	403,706	$	224,440		$	—	$	628,146
Equity securities	—		26,536			—		26,536
Commingled fixed income securities	—		24,695			—		24,695
Debt securities - U.S. and foreign governments, agencies and municipalities	122,783		17,653			—		140,436
Debt securities - corporate	—		38,264			—		38,264
Mortgage-backed / asset-backed securities	—		164,598			—		164,598
Derivatives
Foreign exchange contracts	—		1,358			—		1,358
Total assets	$	526,489	$	497,544		$	—	$	1,024,033
Liabilities:
Investment securities
Mortgage-backed securities	$	—	$	(4,445	)	$	—	$	(4,445	)
Derivatives
Foreign exchange contracts	—		(3,009		)	—		(3,009		)
Total liabilities	$	—	$	(7,454	)	$	—	$	(7,454	)

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale securities at September 30, 2014 and December 31, 2013 consisted of the following:

	September 30, 2014
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Debt securities - U.S. and foreign governments, agencies and municipalities	$	133,573	$	1,813	$	(1,094	)	$	134,292
Debt securities - corporate	64,761		1,354		(302		)	65,813
Mortgage-backed / asset-backed securities	150,363		1,942		(1,331		)	150,974
Total	$	348,697	$	5,109	$	(2,727	)	$	351,079

	December 31, 2013
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Debt securities - U.S. and foreign governments, agencies and municipalities	$	121,803	$	999	$	(3,372	)	$	119,430
Debt securities - corporate	37,901		935		(572		)	38,264
Mortgage-backed / asset-backed securities	165,664		1,570		(2,636		)	164,598
Total	$	325,368	$	3,504	$	(6,580	)	$	322,292

Available-for-sale Securities

Scheduled maturities of available-for-sale securities at September 30, 2014 were as follows:

	Amortized cost		Estimated fair value
Within 1 year	$	41,708	$	41,807
After 1 year through 5 years	72,219		72,921
After 5 years through 10 years	78,486		78,919
After 10 years	156,284		157,432
Total	$	348,697	$	351,079

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

The fair value of derivative instruments at September 30, 2014 and December 31, 2013 was as follows:

Designation of Derivatives	Balance Sheet Location	September 30, 2014			December 31, 2013
Derivatives designated as hedging instruments	Other current assets and prepayments:
	Foreign exchange contracts	$	871		$	546
	Accounts payable and accrued liabilities:
	Foreign exchange contracts	—			(526		)
Derivatives not designated as hedging instruments	Other current assets and prepayments:
	Foreign exchange contracts	2,219			812
	Accounts payable and accrued liabilities:
	Foreign exchange contracts	(377		)	(2,483		)
	Total derivative assets	$	3,090		$	1,358
	Total derivative liabilities	(377		)	(3,009		)
	Total net derivative liabilities	$	2,713		$	(1,651	)

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of fair value hedging relationships for the three and nine months ended September 30,2013:

		Derivative Gain (Loss) Recognized in Earnings				Hedged Item Expense Recognized in Earnings
Derivative Instrument	Location of Gain (Loss)	Three Months Ended September 30, 2013		Nine Months Ended September 30, 2013		Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
Interest rate swaps	Interest expense	$	863	$	3,631	$	(2,742	)	$	(10,969	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of cash flow hedging relationships for the three and nine months ended September 30,2014 and 2013:

	Three Months Ended September 30,
	Derivative Gain (Loss) Recognized in AOCI (Effective Portion)					Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)
Derivative Instrument	2014		2013				2014			2013
Foreign exchange contracts	$	959	$	(343	)	Revenue	$	429		$	(169	)
						Cost of sales	(42		)	108
							$	387		$	(61	)
	Nine Months Ended September 30,
	Derivative Gain (Loss) Recognized in AOCI (Effective Portion)					Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)
Derivative Instrument	2014		2013				2014			2013
Foreign exchange contracts	$	1,465	$	457		Revenue	$	1,009		$	(922	)
						Cost of sales	(394		)	520
							$	615		$	(402	)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of our non-designated derivative instruments for the three and nine months ended September 30,2014 and 2013:

		Derivative Gain (Loss) Recognized in Earnings
		Three Months Ended September 30,					Nine Months Ended September 30,
Derivatives Instrument	Location of Derivative Gain (Loss)	2014		2013			2014			2013
Foreign exchange contracts	Selling, general and administrative expense	$	3,131	$	(6,798	)	$	(173	)	$	(12,793	)

Fair Value, by Balance Sheet Grouping

The carrying value and estimated fair value of our debt at September 30, 2014 and December 31, 2013 was as follows:

	September 30, 2014		December 31, 2013
Carrying value	$	3,237,876	$	3,346,295
Fair value	$	3,435,197	$	3,539,022