Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.8.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Derivative Instruments
As of December 31, 2017, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships (in thousands except for number of instruments):
                                                 Non- Designated Derivatives Summary
 
Number of Instruments
Sell Notional
Buy Notional
FX Forward Contracts
 
 
 
Sell AUD/Buy USD Fwd Contract
9

$
1,250

$
960

Sell CAD/Buy USD Fwd Contract
14

$
8,750

$
6,864

Total
23

—

$
7,824

Derivative Instruments - Balance Sheets and Income Statement Effects
The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2017 and December 31, 2016 (in thousands):
 
 
Tabular Disclosure of Fair Values of Derivative Instruments
 
 
Derivative Asset
 
Derivative Liabilities
 
 
Fair Value as of:
 
 
December 31,
 
December 31,
 
December 31,
 
December 31,
 
 
2017
 
2016
 
2017
 
2016
Derivatives Not Designated as Hedging Instruments
 
 
 
 
FX Forward Contracts
 
 
 
 
 
 
 
 
Balance Sheet Location
 
Other Assets
 
Other Assets
 
Other Current Liabilities
 
Other Current Liabilities
Sell AUD/Buy USD Fwd Contract
$
—

$
—

$
(9
)
$
—
Sell CAD/Buy USD Fwd Contract
$
—

$
—

$
(61
)
$
—
Total
$
—

$
—

$
(70
)
$
—
 
The table below presents the effect of the Company’s derivative financial instruments on the Income Statement as of December 31, 2017 and December 31, 2016 (in thousands):
 
Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated
as Hedging Instruments for the Twelve Months Ended December 31, 2017 and 2016
Derivatives Not Designated as
Hedging Instruments
Location of Gain or (Loss) Recognized
in Income
 
Amount of Gain or (Loss)
Recognized in Income
 
Twelve Months Ended
December 31,
 
2017
 
2016
Sell AUD/Buy USD Fwd Contract
Other Inc/(Exp)
 
$
(29
)
 
$
(24
)
Sell CAD/Buy USD Fwd Contract
Other Inc/(Exp)
 
(304
)
 
(406
)
Total
 
 
$
(333
)
 
$
(430
)