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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2013
Interest Rate Swap Contracts

Information on the interest rate swap contracts is as follows:

 

Contract Type

  

Contract Term

 

  

Notional
Value

 

  

Hedged Instruments

 

  

Fixed
Rate

 

 

Variable Rate

 

  

Rate
Cap

 

Swap

  

 

June 30, 2014

  

  

$

8,000

  

  

 

US Term Note

  

  

 

1.27

 

 

3 month LIBOR

  

  

 

  

Swap

  

 

June 30, 2014

  

  

$

8,000

  

  

 

US Term Note

  

  

 

1.27

 

 

3 month LIBOR

  

  

 

  

Cap

  

 

March 31, 2016

  

  

14,250

  

  

 

W.E.T. Term Note

  

  

 

  

 

 

3 month EURIBOR

  

  

 

2.75

  

 

Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Balance Sheet

Information related to the recurring fair value measurement of derivative instruments in our consolidated balance sheet as of December 31, 2013 is as follows:

 

 

  

 

  

 

  

Asset Derivatives

 

  

Liability Derivatives

 

 

Net Asset/
(Liabilities)

 

 

  

Hedge Designation

  

Fair Value
Hierarchy

  

Balance Sheet
Location

 

  

Fair
Value

 

  

Balance Sheet
Location

  

Fair
Value

 

 

CRS

  

Not a hedge

  

Level 2

  

 

 

 

  

 

 

 

  

Current
liabilities

  

$

(2,471

)

 

 

 

 

 

  

 

  

 

  

 

 

 

  

 

 

 

  

Non current
liabilities

  

 

(9,358

)

 

 

 

 

Total CRS

  

 

  

 

  

 

 

 

  

 

 

 

  

 

  

$

(11,829

)

 

$

(11,829

Foreign currency derivatives

  

 

Not a hedge

  

 

Level 2

  

 

 

Current assets

  

  

$

1

  

  

 

  

 

 

 

 

$

1

 

Foreign currency derivatives

  

Not a hedge

  

Level 2

  

 

Current assets

  

  

$

66

  

  

 

  

 

 

 

 

$

66

  

Non current assets

  

 

  

 

  

 

 

 

  

 

1,969

  

  

 

  

 

 

 

 

$

1,969

  

Total foreign currency derivatives

  

 

  

 

  

 

 

 

  

$

2,036

  

  

 

  

 

 

 

 

$

2,036

  

Interest rate swap derivatives

  

Cash flow hedge

  

Level 2

  

 

 

 

  

 

 

 

  

Current
liabilities

  

$

(81

)

 

$

(81

Information related to the recurring fair value measurement of derivative instruments in our consolidated balance sheet as of December 31, 2012 is as follows:

 

 

  

 

  

 

  

Asset Derivatives

 

  

Liability Derivatives

 

 

Net Asset/
(Liabilities)

 

 

  

Hedge Designation

  

Fair Value
Hierarchy

  

Balance Sheet
Location

 

  

Fair
Value

 

  

Balance Sheet
Location

  

Fair
Value

 

 

CRS

  

Not a hedge

  

Level 2

  

 

 

 

  

 

 

 

  

Current
liabilities

  

$

(2,631

)

 

 

 

 

 

  

 

  

 

  

 

 

 

  

 

 

 

  

Non current
liabilities

  

 

(13,245

)

 

 

 

 

Total CRS

  

 

  

 

  

 

 

 

  

 

 

 

  

 

  

$

(15,876

)

 

$

(15,876

Foreign currency derivatives

  

Not a hedge

  

Level 2

  

 

Current assets

  

  

$

3

  

  

Current
liabilities

  

$

(471

)

 

$

(468

Foreign currency derivatives

  

Not a hedge

  

Level 2

  

 

Current assets

  

  

$

157

  

  

 

  

 

 

 

 

$

157

  

Non current assets

  

 

  

 

  

 

 

 

  

 

4,141

  

  

 

  

 

 

 

 

$

4,141

  

Total foreign currency derivatives

  

 

  

 

  

 

 

 

  

$

4,301

  

  

 

  

$

(471

)

 

$

3,830

  

Interest rate swap derivatives

  

Cash flow hedge

  

Level 2

  

 

 

 

  

 

 

 

  

Current
liabilities

  

$

(224

)

 

$

(224

 

Information Relate to Effect of Derivative Instruments on Our Consolidated Statements of Income

Information related to the effect of derivative instruments on our consolidated statements of income is as follows:

 

 

  

Location

  

Year
Ended
December 31,
2013

 

 

Year
Ended
December 31,
2012

 

Foreign currency derivatives

  

Revaluation of derivatives

  

$

(1,329

 

 

(3,926

 

  

Foreign currency gain (loss)

  

 

(761

 

 

1,875

  

Total foreign currency derivatives

  

 

  

$

(2,090

 

$

(2,051

CRS

  

Revaluation of derivatives

  

$

2,335

  

 

$

1,491

 

Commodity derivatives

  

Revaluation of derivatives

  

$

  

 

$

143

 

Interest Rate Swap

  

Interest Expense

  

$

(2

 

$

(57

 

  

Other Comprehensive Income

  

 

143

 

 

 

(18