Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v2.4.0.8
Financial Instruments And Risk Management (Tables)
 9 Months Ended
Sep. 30, 2014
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,
2014
 
December 31,
2013
 
September 30,
2013
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
103,000

 
$
99,000

 
$
84,500

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
62,837

 
109,000

 
65,900

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,
2014
 
December 31,
2013
 
September 30,
2013
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
5,986

 
$
1,936

 
$
1,526

Currency forward contracts
 
Other non-current assets
 
—

 
24

 
—

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

 
872

 
573

Currency forward contracts
 
Other long-term liabilities
 
—

 
95

 
—

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
2,708

 
2,956

 
403

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

 
280

 
26


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,
 
 
 
2014
 
2013
 
2014
 
2013
Currency Forward Contracts:
 
 
 
 
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain (loss) recognized in other comprehensive income or loss
 
—
 
$
5,404

 
$
(951
)
 
$
5,474

 
$
1,929

Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
556

 
3,217

 
2,055

 
4,843

Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Net sales
 
(13
)
 
—

 
(13
)
 
—

Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
(120
)
 
8

 
(328
)
 
(37
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Gain recognized in income
 
Other non-operating income (expense)
 
5,368

 
137

 
3,397

 
6,149