FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2015

Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input

The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at March 31, 2015 and December 31, 2014, which are classified as “Cash and cash equivalents,” “Prepaid expenses and other current assets, net,” “Other noncurrent assets, net,” “Accrued liabilities,” and “Other noncurrent liabilities” in the Consolidated Balance Sheets. Financial assets and liabilities that are recorded at fair value as of the balance sheet date are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	March 31, 2015
(in thousands)	Total		Level 1		Level 2		Level 3

Assets
Interest rate swaps	$	808	$	—	$	808	$	—
Cross currency basis swaps	700		—		700		—
Foreign exchange forward contracts	72,963		—		72,963		—
DIO Corporation convertible bonds	93,394		—		—		93,394
Total assets	$	167,865	$	—	$	74,471	$	93,394

Liabilities
Interest rate swaps	$	2,353	$	—	$	2,353	$	—
Commodity contracts	169		—		169		—
Foreign exchange forward contracts	6,875		—		6,875		—
Long-term debt	45,474		—		45,474		—
DIO equity option contracts	97		—		—		97
Total liabilities	$	54,968	$	—	$	54,871	$	97



	December 31, 2014
(in thousands)	Total		Level 1		Level 2		Level 3

Assets
Interest rate swaps	$	752	$	—	$	752	$	—
Cross currency basis swaps	2,683		—		2,683		—
Foreign exchange forward contracts	45,376		—		45,376		—
DIO Corporation convertible bonds	57,698		—		—		57,698
Total assets	$	106,509	$	—	$	48,811	$	57,698

Liabilities
Interest rate swaps	$	1,144	$	—	$	1,144	$	—
Commodity contracts	233		—		233		—
Foreign exchange forward contracts	9,211		—		9,211		—
Long-term debt	106,023		—		106,023		—
DIO equity option contracts	115		—		—		115
Total liabilities	$	116,726	$	—	$	116,611	$	115

Reconciliation of the Company's Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Level 3):

The following table presents a rollforward of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:



(in thousands)	DIO Corporation Convertible Bonds			DIO Equity Options Contracts

Balance at December 31, 2014	$	57,698		$	(115	)
Unrealized gain:
Reported in AOCI, pretax	44,499			5
Effects of exchange rate changes	(8,803		)	13
Balance at March 31, 2015	$	93,394		$	(97	)

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details