| Fair Value of Assets and Liabilities Measured on a Recurring Basis |
In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company's financial assets and liabilities that are required to be measured at fair value on a recurring basis, as of September 30, 2011 and December 31, 2010, which are classified as cash and cash equivalents, other current assets, other long-term assets, other current liabilities and other long-term liabilities:
| |
|
Fair Value Measurements |
|
|
Fair Value Measurements |
|
| |
|
at September 30, 2011 |
|
|
at December 31, 2010 |
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| |
|
(in thousands) |
|
|
(in thousands) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents |
|
$ |
220,604 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
220,604 |
|
|
$ |
96,293 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
96,293 |
|
Forward currency contracts |
|
|
- |
|
|
|
1,475 |
|
|
|
- |
|
|
|
1,475 |
|
|
|
- |
|
|
|
6 |
|
|
|
- |
|
|
|
6 |
|
Interest rate cap |
|
|
- |
|
|
|
9 |
|
|
|
- |
|
|
|
9 |
|
|
|
- |
|
|
|
167 |
|
|
|
- |
|
|
|
167 |
|
Investments in rabbi trusts |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
Stock options |
|
|
- |
|
|
|
- |
|
|
|
1,126 |
|
|
|
1,126 |
|
|
|
- |
|
|
|
- |
|
|
|
278 |
|
|
|
278 |
|
Total |
|
$ |
220,604 |
|
|
$ |
1,484 |
|
|
$ |
1,126 |
|
|
$ |
223,214 |
|
|
$ |
99,869 |
|
|
$ |
173 |
|
|
$ |
278 |
|
|
$ |
100,320 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swaps |
|
$ |
- |
|
|
$ |
2,968 |
|
|
$ |
- |
|
|
$ |
2,968 |
|
|
$ |
- |
|
|
$ |
2,119 |
|
|
$ |
- |
|
|
$ |
2,119 |
|
Forward currency contracts |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,769 |
|
|
|
- |
|
|
|
2,769 |
|
Contingent consideration |
|
|
- |
|
|
|
- |
|
|
|
7,806 |
|
|
|
7,806 |
|
|
|
- |
|
|
|
- |
|
|
|
17,894 |
|
|
|
17,894 |
|
Other current liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
|
|
- |
|
|
|
- |
|
|
|
3,576 |
|
Total |
|
$ |
- |
|
|
$ |
2,968 |
|
|
$ |
7,806 |
|
|
$ |
10,774 |
|
|
$ |
3,576 |
|
|
$ |
4,888 |
|
|
$ |
17,894 |
|
|
$ |
26,358 |
|
| |
|
| Fair Value of Assets and Liabilities Measured on Recurring Basis Unobservable Input Reconciliation |
The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities for the nine months ended September 30, 2011:
| |
|
Stock |
|
|
Contingent |
|
| |
|
Options |
|
|
Consideration |
|
| |
|
(in thousands) |
|
Balance as of December 31, 2010 |
|
$ |
278 |
|
|
$ |
(17,894 |
) |
Total gains and losses (realized/unrealized) |
|
|
|
|
|
|
|
|
included in earnings |
|
|
848 |
|
|
|
8,828 |
|
Purchases |
|
|
- |
|
|
|
1,260 |
|
Balance as of September 30, 2011 |
|
$ |
1,126 |
|
|
$ |
(7,806 |
) |
| |
|
|
|
|
|
|
|
|
The amount of total gains and losses for the period |
|
|
|
|
|
|
|
|
included in earnings attributable to the change in |
|
|
|
|
|
|
|
|
unrealized gains or losses relating to assets and |
|
|
|
|
|
|
|
|
liabilities still held at September 30, 2011 |
|
$ |
848 |
|
|
$ |
8,741 |
|
|
| Fair Value of Assets Measured on a Non-recurring Basis |
The following table shows the fair value of the Company's financial assets that have been adjusted to fair value on a non-recurring basis which had a significant impact on the Company's results of operations for the nine months ended September 30, 2011:
| |
|
Fair Value |
|
|
|
|
|
|
|
|
|
| |
|
Measurements |
|
|
|
|
|
|
|
|
|
| |
|
at |
|
Fair Value Measurements Using |
|
Total |
|
Description |
|
September 30, 2011 |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Losses |
|
| |
|
(in thousands) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
|
$ |
5,400 |
|
|
|
$ |
5,400 |
|
|
|
$ |
5,727 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
$ |
5,727 |
|
|