FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

9 Months Ended

Sep. 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 September 30, 2013 and December 31, 2012:

	September 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	$	479	$	132	$	3,502	$	803
Commodity contracts	—		—		472		21
Interest rate swaps	2,491		551		463		402
Cross currency basis swaps	489		—		47,604		13,373
Total	$	3,459	$	683	$	52,041	$	14,599
Not Designated as Hedges
Foreign exchange forward contracts	$	2,790	$	—	$	2,063	$	—
DIO equity option contracts	—		—		—		137
Interest rate swaps	—		—		88		285
Cross currency basis swaps	1,797		—		4,743		47,294
Total	$	4,587	$	—	$	6,894	$	47,716

	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	1,073		—		1,073		(1,073		)	—		—
Counterparty C	3,483		—		3,483		(3,483		)	—		—
Counterparty D	1,083		—		1,083		(1,083		)	—		—
Counterparty E	—		—		—		—			—		—
Counterparty F	155		—		155		(155		)	—		—
Counterparty G	1,070		—		1,070		(1,070		)	—		—
Counterparty H	—		—		—		—			—		—
All Other	1,865		—		1,865		(472		)	—		1,393
Total Assets	$	8,729	$	—	$	8,729	$	(7,336	)	$	—	$	1,393

							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	$	18,119	$	—	$	18,119	$	—		$	—	$	18,119
Counterparty B	5,858		—		5,858		(1,073		)	—		4,785
Counterparty C	15,077		—		15,077		(3,483		)	—		11,594
Counterparty D	12,642		—		12,642		(1,083		)	—		11,559
Counterparty E	14,052		—		14,052		—			—		14,052
Counterparty F	35,989		—		35,989		(155		)	—		35,834
Counterparty G	2,792		—		2,792		(1,070		)	—		1,722
Counterparty H	9,044		—		9,044		—			—		9,044
All Other	7,677		—		7,677		(472		)	—		7,205
Total Liabilities	$	121,250	$	—	$	121,250	$	(7,336	)	$	—	$	113,914

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		)	—		—
Counterparty G	2,843		—		2,843		(1,057		)	—		1,786
Counterparty H	—		—		—		—			—		—
All Other	4,510		—		4,510		(1,837		)	—		2,673
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
Counterparty G	1,057		—		1,057		(1,057		)	—		—
Counterparty H	7,378		—		7,378		—			—		7,378
All Other	1,178		—		1,178		(1,837		)	—		(659		)
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 September 30, 2013:

Foreign Exchange Forward Contracts	Notional Amounts Maturing in the Year									Fair Value Net Asset (Liability)
(in thousands)	2013			2014			2015			September 30, 2013
Forward sale, 17.7 million Australian dollars	$	10,854		$	5,356		$	778		$	477
Forward purchase, 11.4 million British pounds	(18,485		)	—			—			315
Forward sale, 46.3 million Canadian dollars	14,891			26,127			3,923			327
Forward purchase, 23.2 million Danish kroner	(4,204		)	—			—			(4		)
Forward sale, 159.2 million euros	40,879			149,922			23,137			(2,513		)
Forward sale, 376.6 million Japanese yen	10,238			(6,417		)	—			(1,070		)
Forward sale, 177.5 million Mexican pesos	13,513			—			—			194
Forward purchase, 10.3 million Norwegian kroner	(1,718		)	—			—			(55		)
Forward sale, 17.6 million Polish zlotys	5,635			—			—			(39		)
Forward sale, 3.0 million Singapore dollars	2,385			—			—			21
Forward sale, 7.7 billion South Korean won	7,144			—			—			66
Forward purchase, 1.4 billion Swedish kronor	(115,715		)	(89,865		)	(13,691		)	(554		)
Forward purchase, 57.3 million Swiss francs	(91,982		)	24,108			3,444			(137		)
Forward sale, 10.0 million Taiwanese dollars	337			—			—			5
Total foreign exchange forward contracts	$	(126,228	)	$	109,231		$	17,591		$	(2,967	)

Interest Rate Swaps	Notional Amounts Maturing in the Year										Fair Value Net Asset (Liability)
(in thousands)	2013		2014		2015		2016		2017 and Beyond		September 30, 2013
Euro	$	319	$	977	$	977	$	977	$	1,221	$	(373	)
Japanese yen	—		127,793		—		—		—		217
Swiss francs	—		—		—		71,903		—		(865		)
Total interest rate swaps	$	319	$	128,770	$	977	$	72,880	$	1,221	$	(1,021	)

Commodity Swap Contracts	Notional Amounts Maturing in the Year				Fair Value Net  Asset (Liability)
(in thousands)	2013		2014		September 30, 2013
Silver swap - U.S. dollar	$	615	$	1,279	$	(396	)
Platinum swap - U.S. dollar	514		1,074		(97		)
Total commodity swap contracts	$	1,129	$	2,353	$	(493	)

Cross Currency Basis Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2013		2014		2015 and Beyond		September 30, 2013
449.8 million euro at $1.45 pay U.S. dollar three-month LIBOR receive three-month EURIBOR	$	—	$	608,697	$	—	$	(43,752	)
84.0 million euro at $1.34 pay three-month EURIBOR receive U.S. dollar three-month LIBOR	113,627		—		—		(1,129		)
166.4 million Swiss franc at 0.93 pay Swiss franc three-month LIBOR receive U.S. dollar three-month LIBOR	27,655		110,619		45,780		(5,359		)
Total cross currency basis swap	$	141,282	$	719,316	$	45,780	$	(50,240	)

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 nine months ended September 30, 2013 and 2012:

Three Months Ended September 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	$	(414	)	Interest expense	$	(924	)
Foreign exchange forward contracts	(2,488		)	Cost of products sold	460
Foreign exchange forward contracts	(273		)	SG&A expenses	(27		)
Commodity contracts	457			Cost of products sold	(190		)
Total	$	(2,718	)		$	(681	)

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 nine months ended September 30, 2013 and 2012:

Three Months Ended September 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	$	(49,614	)	Interest income	$	1,331
				Interest expense	755
Total	$	(49,614	)		$	2,086

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 September 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		September 30, 2013
432.5 million Swiss franc at 0.93 pay Swiss franc three-month LIBOR receive U.S. dollar three-month LIBOR	$	—	$	88,938	$	62,611	$	110,619	$	216,261	$	(12,891	)
534.0 million euro at $1.26 pay three-month EURIBOR receive U.S. dollar three-month LIBOR	722,342		—		—		—		—		(47,597		)
Total cross currency basis swaps	$	722,342	$	88,938	$	62,611	$	110,619	$	216,261	$	(60,488	)

Fair Value Hedging

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

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

Derivatives in Fair Value Hedging
	Classification	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	of Gains (Losses)	2013		2012		2013		2012
Interest rate swaps	Interest expense	$	251	$	789	$	163	$	2,274
Total		$	251	$	789	$	163	$	2,274

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

Interest Rate Swap	Notional Amounts Maturing in the Year						Fair Value Net Asset (Liability)
(in thousands)	2014		2015		2016		September 30, 2013
U.S. dollar	$	45,000	$	60,000	$	45,000	$	2,825
Total interest rate swap	$	45,000	$	60,000	$	45,000	$	2,825

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 nine months ended September 30, 2013 and 2012:

Derivatives Not Designated as Hedging
	Classification	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	of Gains (Losses)	2013			2012			2013		2012
Foreign exchange forward contracts (a)	Other expense (income), net	$	3,110		$	(5,033	)	$	6,193	$	(4,727	)
DIO equity option contracts	Other expense (income), net	8			406			20		229
Interest rate swaps	Interest expense	(7		)	(49		)	14		(136		)
Cross currency basis swaps (a)	Other expense (income), net	10,625			8,275			9,250		(3,841		)
Total		$	13,736		$	3,599		$	15,477	$	(8,475	)