Quarterly report pursuant to Section 13 or 15(d)

Fair Value Of Measurements

v2.3.0.15
Fair Value Of Measurements
 9 Months Ended
Sep. 30, 2011
Fair Value Of Measurements [Abstract]  
Fair Value Of Measurements

NOTE 9.  FAIR VALUE OF MEASUREMENTS

 

We measure certain financial assets and liabilities at fair value on a recurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:

 

Level 1- inputs to the valuation methodology are quoted market prices for identical assets or liabilities in active markets.

 

Level 2- inputs to the valuation methodology include quoted prices in markets that are not active or model inputs that are

               observable either directly or indirectly for substantially the full term of the asset or liability.

 

Level 3- inputs to the valuation methodology are based on prices or valuation techniques that are unobservable.

 

Assets and liabilities measured at fair value on a recurring basis at September 30, 2011 and December 31, 2010 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2011

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

 $                    -

 

 $               700

 

 $                  -

 

 $             700

 

 

 $                    -

 

 $               700

 

 $                  -

 

 $             700

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

 $                    -

 

 $               742

 

 $                  -

 

 $             742

 

 

 $                    -

 

 $               742

 

 $                  -

 

 $             742

 

 

 

 

 

 

 

 

 

 

 

December 31, 2010

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

 $                    -

 

 $            1,346

 

 $                  -

 

 $          1,346

 

 

 $                    -

 

 $            1,346

 

 $                  -

 

 $          1,346

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

  Forward exchange contracts

 

 $                    -

 

 $            1,387

 

 $                  -

 

 $          1,387

 

 

 $                    -

 

 $            1,387

 

 $                  -

 

 $          1,387