Derivative Instruments

3 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Instruments

In March 2012, the Company entered into an interest rate swap agreement to fix the LIBOR-based variable portion of the interest rate on a total of $100.0 million notional amount of its term loan facility. The swap agreement fixes the LIBOR-based variable portion of the interest rate at 1.80% and expires on June 23, 2016. The Company has designated the swap agreement as a cash flow hedge.

In addition, the Company was party to a $125.0 million notional amount interest rate swap which expired in July 2011 and a second interest rate swap with a notional amount of $75.0 million which expired in the first quarter of 2011. Both of these swaps were associated with the Company's previous term loan facility, but during 2011 neither was designated as a hedging instrument.

As of March 31, 2012 and December 31, 2011, the fair value carrying amount of the Company's derivative instruments is recorded as follows:

		Asset Derivatives				Liability Derivatives
	Balance Sheet Caption	March 31, 2012		December 31, 2011		March 31, 2012		December 31, 2011
		(dollars in thousands)
Derivatives designated as hedging instruments
Interest rate swap	Accrued liabilities	$	—	$	—	$	550	$	—
Interest rate swap	Other long-term liabilities	—		—		110		—
Total derivatives designated as hedging instruments		$	—	$	—	$	660	$	—

The amount of loss recognized in accumulated other comprehensive income and amount reclassified into earnings is summarized as follows:

	Amount of Loss Recognized in AOCI on Derivatives (Effective Portion, net of tax)						Amount of Loss Reclassified from AOCI into Earnings
							Three months ended March 31,
	As of March 31, 2012			As of December 31, 2011		Location of Loss Reclassified from AOCI into Earnings (Effective Portion)	2012		2011
	(dollars in thousands)						(dollars in thousands)
Derivatives designated as hedging instruments
Interest rate swaps	$	(410	)	$	—	Interest expense	$	—	$	(240	)

Over the next 12 months, the Company expects to reclassify approximately $0.6 million of pre-tax deferred losses from accumulated other comprehensive income to interest expense as the related interest payments for the designated interest rate swaps are recognized.

	Amount of Loss Recognized in Earnings on Derivatives
	Three months ended March 31,					Location of Loss Recognized in Earnings on Derivatives
	2012		2011
	(dollars in thousands)
Derivatives not designated as hedging instruments
Interest rate swaps	$	—	$	(10	)	Interest expense

Valuations of the interest rate swap was based on the income approach which uses observable inputs such as interest rate yield curves and forward currency exchange rates. Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2012 are shown below.  

		March 31, 2012
Description	Frequency	Asset / (Liability)			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
		(dollars in thousands)
Interest rate swaps	Recurring	$	(660	)	$	—	$	(660	)	$	—