Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v3.10.0.1
Financial Instruments And Risk Management (Tables)
 9 Months Ended
Sep. 30, 2018
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,
2018
 
December 31,
2017
 
September 30,
2017
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
434,738

 
$
448,448

 
$
390,500

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
289,772

 
231,161

 
181,045

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,
2018
 
December 31,
2017
 
September 30,
2017
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
7,262

 
$
1,648

 
$
1,930

Currency forward contracts
 
Other non-current assets
 
7,963

 
335

 
509

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
584

 
9,336

 
10,152

Currency forward contracts
 
Other long-term liabilities
 
—

 
3,820

 
3,048

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
865

 
683

 
959

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
154

 
1,229

 
407


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,
 
 
2018
 
2017
 
2018
 
2017
Currency Forward and Option Contracts:
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in other comprehensive income or loss, net of tax
—
 
$
866

 
$
(7,535
)
 
$
16,493

 
$
(14,510
)
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
Net sales
 
17

 
—

 
41

 
144

(Loss) gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
Cost of sales
 
(4,192
)
 
1,549

 
(7,796
)
 
2,500

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 recognized in income for amount excluded from effectiveness testing and for the ineffective portion
Net sales
 
4

 
—

 
16

 
5

Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion
Cost of sales
 
1,637

 
1,203

 
5,458

 
2,489

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in income
Other non-operating expense
 
372

 
(634
)
 
2,606

 
(4,045
)