Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2013

Assets Measured at Fair Value on a Recurring Basis, Categorized by the Level of Inputs Used in the Valuation

From time to time we enter into various instruments that require fair value measurement, including foreign currency option contracts, interest rate swaps and copper derivative contracts. Assets measured on a recurring basis, categorized by the level of inputs used in the valuation, include:



(Dollars in thousands)	Balance Sheet Location	Carrying amount as of June 30, 2013			Level 1		Level 2			Level 3
Assets
Pension assets (1)		$	156,741		$	106,619	$	33,530		$	16,592
Foreign exchange option contracts	Other current assets	(9		)	—		(9		)	—
Copper derivative instruments	Other current assets	56			—		56			—
Liabilities
Interest rate swap instrument	Other accrued liabilities	(249		)	—		(249		)	—



(Dollars in thousands)	Balance Sheet Location	Carrying amount as of December 31, 2012			Level 1		Level 2			Level 3
Assets
Pension assets (1)		$	143,540		$	98,269	$	29,869		$	15,402
Foreign exchange option contracts	Other current assets	15			—		15			—
Copper derivative instruments	Other current assets	267			—		267			—
Liabilities
Interest rate swap instrument	Other accrued liabilities	(361		)	—		(361		)	—

Reconciliation of Assets Measured at Fair Value on a Recurring Basis using Unobservable Inputs (Level 3)

The reconciliation of our assets measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:



(Dollars in thousands)	Auction Rate Securities
Balance at December 31, 2011	$	25,960
Cash received for redemptions at par	(25,438		)
Reclassified from other comprehensive income	2,723
Reported in earnings	(3,245		)
Balance at June 30, 2012	$	—

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References+ Details

- 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