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Derivative Instruments (Tables)
3 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of March 31, 2014 and December 31, 2013, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows:
 
 
 
 
Asset / (Liability) Derivatives
 
 
Balance Sheet Caption
 
March 31,
2014
 
December 31,
2013
 
 
 
 
(dollars in thousands)
Derivatives designated as hedging instruments
 
 
 
 
 
 
Interest rate swaps
 
Other assets
 
$
2,300

 
$
2,080

Interest rate swaps
 
Accrued liabilities
 
(620
)
 
(360
)
Foreign currency forward contracts
 
Other assets
 
370

 

Total derivatives designated as hedging instruments
 
 
 
$
2,050

 
$
1,720

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
three months ended March 31, 2014 and 2013:
 
Amount of Income Recognized
in AOCI on Derivative
(Effective Portion, net of tax)
 
 
 
Amount of Income (Loss) Reclassified
from AOCI into Earnings
 
 
 
 
Three months ended
March 31,
 
As of
March 31, 2014
 
As of December 31, 2013
 
Location of Income (Loss) Reclassified from AOCI into Earnings (Effective Portion)
 
2014
 
2013
 
(dollars in thousands)
 
 
 
(dollars in thousands)
Derivatives designated as hedging instruments
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
1,040

 
$
1,060

 
Interest expense
 
$
(240
)
 
$
(10
)
Foreign currency forward contracts
$
330

 
$

 
Cost of sales
 
$
40

 
$

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
 
 
 
 
Amount of Loss Recognized in Earnings on Derivatives
 
 
Location of Loss
Recognized in Earnings on
Derivatives
 
Three months ended March 31,
 
 
 
2014
 
2013
 
 
 
 
(dollars in thousands)
Derivatives not designated as hedging instruments
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
$

 
$
(80
)
Fair Value Measurements, Recurring and Nonrecurring
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, 2014 and December 31, 2013 are shown below.  
 
 
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)
March 31, 2014
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
Recurring
 
$
1,680

 
$

 
$
1,680

 
$

Foreign currency forward contracts
 
Recurring
 
$
370

 
$

 
$
370

 
$

December 31, 2013
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
 
Recurring
 
$
1,720

 
$

 
$
1,720

 
$