FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value and Consolidated Balance Sheet Location of the Company's Derivatives

The following tables summarize the fair value and consolidated balance sheet location of the Company’s derivatives at June 30, 2013 and December 31, 2012:

	June 30, 2013
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	2,135	$	477	$	3,948	$	711
Commodity contracts	—		—		1,137		121
Interest rate swaps	745		2,802		543		199
Cross currency basis swaps	14,868		6,563		32,561		—
Total	$	17,748	$	9,842	$	38,189	$	1,031
Not Designated as Hedges
Foreign exchange forward contracts	$	3,040	$	—	$	3,060	$	—
DIO equity option contracts	—		—		—		139
Interest rate swaps	—		—		90		309
Cross currency basis swaps	2,273		2,082		1,446		65,028
Total	$	5,313	$	2,082	$	4,596	$	65,476

	December 31, 2012
(in thousands)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets, Net		Accrued Liabilities		Other Noncurrent Liabilities
Designated as Hedges
Foreign exchange forward contracts	$	2,353	$	65	$	2,243	$	844
Commodity contracts	—		—		95		—
Interest rate swaps	2,192		2,535		525		948
Cross currency basis swaps	8,191		—		97,281		1,588
Total	$	12,736	$	2,600	$	100,144	$	3,380
Not Designated as Hedges
Foreign exchange forward contracts	$	6,652	$	—	$	1,353	$	—
DIO equity option contracts	—		—		—		153
Interest rate swaps	—		—		114		416
Cross currency basis swaps	537		—		40,026		55,858
Total	$	7,189	$	—	$	41,493	$	56,427

Offsetting Derivative Assets and Liabilities [Table Text Block]

							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments			Cash Collateral Received/Pledged		Net Amount
Assets
Derivative contracts
Counterparty A	$	—	$	—	$	—	$	—		$	—	$	—
Counterparty B	5,584		—		5,584		(649		)	—		4,935
Counterparty C	10,098		—		10,098		(10,098		)	—		—
Counterparty D	5,147		—		5,147		(5,147		)	—		—
Counterparty E	2,632		—		2,632		(2,632		)	—		—
Counterparty F	1,663		—		1,663		(1,663		)	—		—
All Other	9,861		—		9,861		(3,587		)	—		6,274
Total Assets	$	34,985	$	—	$	34,985	$	(23,776	)	$	—	$	11,209

							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments			Cash Collateral Received/Pledged		Net Amount
Liabilities
Derivative contracts
Counterparty A	$	13,086	$	—	$	13,086	$	—		$	—	$	13,086
Counterparty B	649		—		649		(649		)	—		—
Counterparty C	16,237		—		16,237		(10,098		)	—		6,139
Counterparty D	11,485		—		11,485		(5,147		)	—		6,338
Counterparty E	21,103		—		21,103		(2,632		)	—		18,471
Counterparty F	34,917		—		34,917		(1,663		)	—		33,254
All Other	11,815		—		11,815		(3,587		)	—		8,228
Total Liabilities	$	109,292	$	—	$	109,292	$	(23,776	)	$	—	$	85,516

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2012:

							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments			Cash Collateral Received/Pledged		Net Amount
Assets
Derivative contracts
Counterparty A	$	—	$	—	$	—	$	—		$	—	$	—
Counterparty B	2,110		—		2,110		(1,142		)	—		968
Counterparty C	9,682		—		9,682		(9,682		)	—		—
Counterparty D	1,618		—		1,618		(1,618		)	—		—
Counterparty E	1,579		—		1,579		(1,579		)	—		—
Counterparty F	183		—		183		(183		)	—		—
All Other	7,353		—		7,353		(2,894		)	—		4,459
Total Assets	$	22,525	$	—	$	22,525	$	(17,098	)	$	—	$	5,427

							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments			Cash Collateral Received/Pledged		Net Amount
Liabilities
Derivative contracts
Counterparty A	$	40,176	$	—	$	40,176	$	—		$	—	$	40,176
Counterparty B	1,142		—		1,142		(1,142		)	—		—
Counterparty C	38,019		—		38,019		(9,682		)	—		28,337
Counterparty D	10,432		—		10,432		(1,618		)	—		8,814
Counterparty E	17,802		—		17,802		(1,579		)	—		16,223
Counterparty F	84,260		—		84,260		(183		)	—		84,077
All Other	9,613		—		9,613		(2,894		)	—		6,719
Total Liabilities	$	201,444	$	—	$	201,444	$	(17,098	)	$	—	$	184,346

Cash Flow Hedging

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the notional amounts and fair value of the Company’s cash flow hedges and non-designated derivatives at June 30, 2013:

Foreign Exchange Forward Contracts	Notional Amounts Maturing in the Year									Fair Value Net Asset (Liability)
(in thousands)	2013			2014			2015			June 30, 2013
Forward sale, 17.9 million Australian dollars	$	12,817		$	4,000		$	140		$	906
Forward purchase, 9.4 million British pounds	(14,300		)	—			—			(149		)
Forward sale, 47.5 million Canadian dollars	24,091			20,441			1,195			1,472
Forward purchase, 21.1 million Danish kroner	(3,695		)	—			—			(31		)
Forward sale, 223.9 million euros	171,979			113,119			6,008			(1,007		)
Forward purchase, 28.1 million Japanese yen	6,053			(6,364		)	—			(2,181		)
Forward sale, 171.6 million Mexican pesos	13,235			—			—			(41		)
Forward purchase, 2.3 million Norwegian kroner	(380		)	—			—			(14		)
Forward sale, 17.2 million Polish zlotys	5,162			—			—			129
Forward sale, 3.0 million Singapore dollars	2,350			—			—			(27		)
Forward sale, 8.0 billion South Korean won	7,021			—			—			(172		)
Forward purchase, 1.4 billion Swedish kronor	(137,501		)	(67,436		)	(3,455		)	(1,079		)
Forward purchase, 51.9 million Swiss francs	(74,044		)	18,822			892			153
Forward sale, 52.0 million Taiwanese dollars	1,737			—			—			(26		)
Total foreign exchange forward contracts	$	14,525		$	82,582		$	4,780		$	(2,067	)

Interest Rate Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2013		2014		2015		2016		2017 and Beyond		June 30, 2013
Euro	$	614	$	940	$	940	$	940	$	1,175	$	(399	)
Japanese yen	—		126,518		—		—		—		255
Swiss francs	—		—		—		68,801		—		(643		)
Total interest rate swaps	$	614	$	127,458	$	940	$	69,741	$	1,175	$	(787	)

Commodity Swap Contracts	Notional Amounts Maturing in the Year				Fair Value Net  Asset (Liability)
(in thousands)	2013		2014		June 30, 2013
Silver swap - U.S. dollar	$	1,073	$	1,121	$	(956	)
Platinum swap - U.S. dollar	1,016		1,000		(302		)
Total commodity swap contracts	$	2,089	$	2,121	$	(1,258	)

Cross Currency Basis Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2013		2014		2015 and Beyond		June 30, 2013
449.8 million euro at $1.45 pay U.S. dollar three-month LIBOR receive three-month EURIBOR	$	—	$	585,211	$	—	$	(66,473	)
36.0 million euro at $1.32 pay three-month EURIBOR receive U.S. dollar three-month LIBOR	46,841		—		—		882
191.4 million Swiss franc at 0.93 pay Swiss franc three-month LIBOR receive U.S. dollar three-month LIBOR	52,924		105,848		43,805		3,472
Total cross currency basis swap	$	99,765	$	691,059	$	43,805	$	(62,119	)

Fair Value and Consolidated Balance Sheet Location of the Company's Derivatives

The following tables summarize the statements of operations impact of the Company’s cash flow hedges for the three and six months ended June 30, 2013 and 2012:

Three Months Ended June 30, 2013
Derivatives in Cash Flow Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Effective Portion Reclassified from AOCI into Income
Interest rate swaps	$	401		Interest expense	$	(918	)
Foreign exchange forward contracts	(5,324		)	Cost of products sold	631
Foreign exchange forward contracts	(97		)	SG&A expenses	(10		)
Commodity contracts	(1,243		)	Cost of products sold	45
Total	$	(6,263	)		$	(252	)

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

The following tables summarize the statements of operations impact of the Company’s hedges of net investments for the three and six months ended June 30, 2013 and 2012:

Three Months Ended June 30, 2013
Derivatives in Net Investment Hedging
(in thousands)	Gain (Loss) in AOCI			Classification of Gains (Losses)	Gain (Loss) Recognized in Income
Cross currency basis swaps	$	(13,735	)	Interest income	$	1,270
				Interest expense	1,345
Total	$	(13,735	)		$	2,615

Net Investment Hedging [Member]

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the notional amounts and fair value of the Company’s cross currency basis swaps that are designated as hedges of net investments in foreign operations at June 30, 2013:

Cross Currency Basis Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2013		2014		2015		2016		2017 and Beyond		June 30, 2013
432.5 million Swiss franc at 0.95 pay Swiss franc three-month LIBOR receive U.S. dollar three-month LIBOR	$	—	$	85,102	$	59,910	$	105,848	$	206,933	$	6,672
582.0 million euro at $1.27 pay three-month EURIBOR receive U.S. dollar three-month LIBOR	757,269		—		—		—		—		(17,802		)
Total cross currency basis swaps	$	757,269	$	85,102	$	59,910	$	105,848	$	206,933	$	(11,130	)

Fair Value Hedging

Summary of Notional Amounts and Fair Value of the Company's Hedges

The following tables summarize the notional amounts and fair value of the Company’s fair value hedges at June 30, 2013:

Interest Rate Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2014		2015		2016		June 30, 2013
U.S. dollar	$	45,000	$	60,000	$	45,000	$	3,193
Total interest rate swap	$	45,000	$	60,000	$	45,000	$	3,193

The following tables summarize the statements of operations impact of the Company’s hedges of fair value for the three and six months ended June 30, 2013 and 2012:

Derivatives in Fair Value Hedging
	Classification	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2013			2012		2013			2012
Interest rate swaps	Interest expense	$	(151	)	$	646	$	(89	)	$	1,485
Total		$	(151	)	$	646	$	(89	)	$	1,485

Not Designated as Hedging Instrument [Member]

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

The following table summarizes the statements of operations impact of the Company’s hedges not designated as hedging for the three and six months ended June 30, 2013 and 2012:

Derivatives Not Designated as Hedging
	Classification	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	of Gains (Losses)	2013		2012			2013			2012
Foreign exchange forward contracts (a)	Other expense (income), net	$	568	$	(2,545	)	$	3,083		$	306
DIO equity option contracts	Other expense (income), net	45		95			13			(178		)
Interest rate swaps	Interest expense	11		(45		)	21			(87		)
Cross currency basis swaps (a)	Other expense (income), net	24,057		(30,661		)	(1,376		)	(12,116		)
Total		$	24,681	$	(33,156	)	$	1,741		$	(12,075	)