Foreign Currency Exchange Contracts and Hedging

12 Months Ended

Dec. 31, 2011

Foreign Currency Exchange Contracts and Hedging

Foreign Currency Exchange Contracts and Hedging

(11) Foreign Currency Exchange Contracts and Hedging

        As of December 31, 2011, the Company's total hedging contracts had notional amounts totaling approximately $66,000, held by one counterparty. At December 31, 2011, the outstanding contracts were expected to mature over the next 12 months.

        The nonperformance risk of the Company and the counterparty did not have a material impact on the fair value of the derivatives. During the year ended December 31, 2011, the ineffective portion relating to these hedges was immaterial and the hedges remained effective as of December 31, 2011. As of December 31, 2011, the total amount in accumulated other comprehensive (loss) income (see note 7) was expected to be reclassified into income within the next 15 months.

        The following tables summarize the effect of derivative instruments on the consolidated financial statements:

For the Year Ended December 31,	Derivatives in Designated Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Location of Amount Excluded from Effectiveness Testing	Gain (Loss) from Amount Excluded from Effectiveness Testing
2011	Foreign Exchange Contracts	$(1,376)	Net Sales	$125	SG&A	$(260)
2010	Foreign Exchange Contracts	$  2,566	Net Sales	—	SG&A	$(133)

For the Year Ended December 31,	Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives
2011	Foreign Exchange Contracts	SG&A	$(541)
2010	Foreign Exchange Contracts	SG&A	$  (95)