obligations in their respective currencies or U.S. Dollars. Our  international operations are financed utilizing local credit facilities  denominated in local currencies. Additionally, expenses associated  with these transactions are generally contracted and paid for in the  same local currencies. A 10% unfavorable change in the U.S. Dollar  exchange rate, relative to other functional currencies in which we  operate, would not materially impact our consolidated balance sheet  at September 30, 2013. increases to our customers on a contract-by-contract basis to avoid  a negative effect on our profit margin. While we may do so in the  future, we have not currently entered into any derivative contracts to  hedge our exposure to commodity risk. We continue to experience  price volatility with some of our key raw materials and components.  Fixed-price contracts may limit our ability to pass cost increases to  our customers, thus negatively impacting our earnings. Fluctuations  in commodity prices may have a material impact on our future  earnings and cash flows. During Fiscal 2012, we entered into eight foreign currency forward  contracts to manage the volatility of future cash flows on certain  long-term contracts that are denominated in the British Pound  Sterling. The contracts were designated as cash flow hedges  for accounting purposes. The changes in fair value related to the  effective portion of the hedges are recognized as a component of  accumulated other comprehensive income on our consolidated  balance sheets. At September 30, 2013, all foreign currency forward  contracts have been settled, with no balances recorded on our  consolidated balance sheets related to these transactions. We are also exposed to general market risk and its potential impact  on accounts receivable or costs and estimated earnings in excess of  billings on uncompleted contracts. The amounts recorded may be  at risk if our customers’ ability to pay these obligations is negatively  impacted by economic conditions. Our customers and their industries  are typically EPC firms, oil and gas producers, oil and gas pipelines,  refineries, petrochemical plants, electrical power generators, public  and private utilities, co-generation facilities, mining/metals operations,  pulp and paper plants, transportation authorities, governmental  agencies and other large industrial customers. We maintain ongoing  discussions with customers regarding contract status with respect  to payment status, change orders and billing terms in an effort to  monitor collections of amounts billed. We are subject to market risk from fluctuating market prices of  certain raw materials. While such materials are typically available  from numerous suppliers, commodity raw materials are subject to  price fluctuations. We attempt to pass along such commodity price  Market Risk Commodity Price Risk 23