Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v3.7.0.1
Financial Instruments And Risk Management (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedges, Assets [Abstract]  
Gross Notional Amount Of Outstanding Derivative Instruments
The following table presents the gross notional amount of outstanding derivative instruments (in thousands): 
 
June 30,
2017
 
December 31,
2016
 
June 30,
2016
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
314,000

 
$
206,000

 
$
247,500

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
166,476

 
184,940

 
79,930

Balance Sheet Classification And Fair Value Of Derivative Instruments
The following table presents the balance sheet classification and fair value of derivative instruments (in thousands):
 
 
Balance Sheet Classification
 
June 30,
2017
 
December 31,
2016
 
June 30,
2016
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
1,648

 
$
9,805

 
$
2,228

Currency forward contracts
 
Other non-current assets
 
816

 
1,969

 
1,079

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
3,151

 
106

 
4,169

Currency forward contracts
 
Other long-term liabilities
 
1,665

 
—

 
1,456

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
505

 
1,361

 
458

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
916

 
180

 
3,545


Statement of Operations Effect and Classification of Derivative Instruments
The following table presents the statement of operations effect and classification of derivative instruments (in thousands):
 
 
Statement of
Operations
Classification
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
 
2017
 
2016
 
2017
 
2016
Currency Forward and Option Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Loss recognized in other comprehensive income or loss
 
—
 
$
(5,537
)
 
$
(787
)
 
$
(6,975
)
 
$
(7,925
)
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Net sales
 
—

 
—

 
144

 
161

Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
897

 
171

 
951

 
1,605

Loss reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance
 
Cost of sales
 
—

 
(81
)
 
—

 
(81
)
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Net sales
 
2

 
1

 
5

 
5

Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
492

 
540

 
1,286

 
962

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Loss recognized in income
 
Other non-operating expense
 
(1,723
)
 
(1,887
)
 
(3,411
)
 
(3,441
)