Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v3.8.0.1
Financial Instruments And Risk Management (Tables)
 9 Months Ended
Sep. 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): 
 
September 30,
2017
 
December 31,
2016
 
September 30,
2016
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
390,500

 
$
206,000

 
$
204,000

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
181,045

 
184,940

 
189,159

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
 
September 30,
2017
 
December 31,
2016
 
September 30,
2016
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
1,930

 
$
9,805

 
$
1,880

Currency forward contracts
 
Other non-current assets
 
509

 
1,969

 
344

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
10,152

 
106

 
3,295

Currency forward contracts
 
Other long-term liabilities
 
3,048

 
—

 
559

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
959

 
1,361

 
99

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
407

 
180

 
850


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 September 30,
 
Nine Months Ended September 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, net of tax
 
—
 
$
(7,535
)
 
$
(266
)
 
$
(14,510
)
 
$
(8,191
)
Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Net sales
 
—

 
(46
)
 
144

 
115

Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
1,549

 
(784
)
 
2,500

 
821

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

 
—

 
—

 
(81
)
Loss reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance
 
Other non-operating expense
 
(178
)
 
—

 
(178
)
 
—

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

 
(4
)
 
5

 
1

Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
1,203

 
143

 
2,489

 
1,105

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Loss recognized in income
 
Other non-operating expense
 
(634
)
 
(444
)
 
(4,045
)
 
(3,885
)