Foreign Currency Exchange Contracts and Hedging

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Foreign Currency Exchange Contracts and Hedging

(9) Foreign Currency Exchange Contracts and Hedging

As of December 31, 2013, the Company had foreign currency forward contracts designated as cash-flow hedges with notional amounts totaling approximately $77,000. These contracts were held by four counterparties and were expected to mature over the next 12 months. At December 31, 2012, the Company had non-designated derivative contracts with notional amounts totaling approximately $19,000, which were comprised of offsetting contracts with the same counterparty and expired in March 2013.

The nonperformance risk of the Company and the counterparties did not have a material impact on the fair value of the derivatives. During the year ended December 31, 2013, the ineffective portion relating to these hedges was immaterial and the hedges remained effective as of December 31, 2013. The effective portion of the gain or loss on the derivative is reported in other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. As of December 31, 2013, the total amount in accumulated other comprehensive loss (see Note 6) was expected to be reclassified into income within the next 15 months.

As of December 31, 2013, the Company had no outstanding non-designated hedges.

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
2013	Foreign Exchange Contracts	$(779)	Net Sales	$17	SG&A	$(11)
2012	Foreign Exchange Contracts	$(1,191)	Net Sales	$617	SG&A	$26

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
2013	Foreign Exchange Contracts	SG&A	$728
2012	Foreign Exchange Contracts	SG&A	$1,030