Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.19.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of outstanding derivatives not designated as hedges in qualifying hedging relationships [Table TextBlock]

As of March 31, 2019, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships (in thousands except for number of instruments):

 

Non-Designated Derivative Summary  
FX Forward Contracts   Number of
Instruments		     Sell Notional     Buy Notional  
Sell AUD/Buy USD Fwd Contract     4     $ 550     $ 395  
Sell CAD/Buy USD Fwd Contract     6     $ 5,000     $ 3,760  
Total     10             $ 4,155  
Schedule of fair value of the Company's derivative financial instruments [Table TextBlock]

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet as of March 31, 2019 and December 31, 2018 (in thousands):

 

    Tabular Disclosure of Fair Values of Derivative Instruments  
    Derivatives Asset     Derivative Liabilities  
          Fair Value as of:        
Derivatives Not Designated as
Hedging Instruments 		      March 31,
2019		     December 31,
2018		     March 31,
2019		     December 31,
2018		  
FX Forward Contracts                        
Balance Sheet Location   Other Assets     Other Assets     Other Current
Liabilities		     Other Current
Liabilities		  
Sell AUD/Buy USD Fwd Contract   $ 6     $ 18     $ (2 )   $ (1 )
Sell CAD/Buy USD Fwd Contract     47       121       (41 )     (4 )
Total   $ 53     $ 139     $ (43 )   $ (5 )
Schedule of Effect of Derivative Instruments on the Income Statement [Table TextBlock]

The table below presents the effect of the Company’s derivative financial instruments on the income statement as of March 31, 2019 and March 31, 2018 (in thousands):          

 

Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated

as Hedging Instruments for the Three Months Ended March 31, 2019 and 2018

 

        Amount of Gain or (Loss)  
Derivatives Not Designated   Location of Gain or (Loss)   Recognized in Income  
as Hedging Instruments      Recognized in Income   Three Months Ended March  31  
        2019     2018  
Sell AUD/Buy USD Fwd Contract   Other inc/(exp)   $ (4 )   $ 11  
Sell CAD/Buy USD Fwd Contract   Other inc/(exp)     (87 )     136  
Total       $ (91 )   $ 147  
Schedule of total fair value classification of derivative transactions [Table TextBlock]

The table below presents the total fair value classification within the fair value hierarchy for the complete portfolio of derivative transactions at March 31, 2019 (in thousands):

 

    Recurring Fair Value Measurements  
    Quoted Prices in Active                                      
    Markets for Identical     Significant Other     Significant Unobservable              
    Assets and Liabilities     Observable Inputs     Inputs        
    at March 31,     at March 31,     at March 31,     Total Fair Value  
    (Level 1)     (Level 2)     (Level 3)     at March 31,  
    2019     2018     2019     2018     2019     2018     2019     2018  
Assets                                                                
Derivative Financial Instruments   $ —     $ —     $ 53     $ 75     $ —     $ —     $ 53     $ 75  
Liabilities                                                                
Derivative Financial Instruments   $ —     $ —     $ (43 )   $ —     $ —     $ —     $ (43 )   $ —