Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v2.4.1.9
Financial Instruments And Risk Management (Tables)
3 Months Ended
Mar. 31, 2015
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): 
 
March 31,
2015
 
December 31,
2014
 
March 31,
2014
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
$
106,500

 
$
103,000

 
$
142,500

Currency option contracts
7,000

 

 

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
Currency forward contracts
75,000

 
128,000

 
36,000

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
 
March 31,
2015
 
December 31,
2014
 
March 31,
2014
Derivative instruments designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
$
14,475

 
$
9,993

 
$
2,391

Currency option contracts
 
Prepaid expenses and other current assets
 
132

 

 

Currency forward contracts
 
Other non-current assets
 

 

 
128

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 

 

 
1,017

Currency forward contracts
 
Other long-term liabilities
 

 

 
33

Derivative instruments not designated as cash flow hedges:
 
 
 
 
 
 
 
 
Derivative instruments in asset positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Prepaid expenses and other current assets
 
1,180

 
2,754

 
312

Derivative instruments in liability positions:
 
 
 
 
 
 
 
 
Currency forward contracts
 
Accrued liabilities
 
123

 
924

 


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 March 31,
 
 
 
2015
 
2014
Currency Forward and Option Contracts:
 
 
 
 
 
 
Derivative instruments designated as cash flow hedges:
 
 
 
 
Gain recognized in other comprehensive income or loss
 
 
$
5,582

 
$
704

Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 
Cost of sales
 
2,257

 
809

Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Net sales
 
(15
)
 

Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 
Cost of sales
 
(122
)
 
(22
)
Derivative instruments not designated as cash flow hedges:
 
 
 
 
Gain (loss) recognized in income
 
Other non-operating expense
 
2,936

 
(1,465
)