Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v3.5.0.2
Financial Instruments And Risk Management (Tables)
 9 Months Ended
Sep. 30, 2016
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,
2016
 
December 31,
2015
 
September 30,
2015
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
204,000

 
$
161,000

 
$
133,500

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
189,159

 
113,195

 
81,000

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,
2016
 
December 31,
2015
 
September 30,
2015
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
1,880

 
$
5,394

 
$
2,101

Currency forward contracts
 
Other non-current assets
 
344

 
566

 
309

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
3,295

 
224

 
170

Currency forward contracts
 
Other long-term liabilities
 
559

 
—

 
—

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
99

 
1,328

 
391

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
850

 
1,693

 
489


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,
 
 
 
2016
 
2015
 
2016
 
2015
Currency Forward and Option Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in other comprehensive income or loss
 
—
 
$
(266
)
 
$
789

 
$
(8,191
)
 
$
5,629

Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Net sales
 
(46
)
 
187

 
115

 
187

Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
(784
)
 
8,878

 
821

 
12,825

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

 
—

 
(81
)
 
—

Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Net sales
 
(4
)
 
(3
)
 
1

 
(20
)
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
143

 
84

 
1,105

 
(126
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in income
 
Other non-operating expense
 
(444
)
 
260

 
(3,885
)
 
2,840