Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2016
Derivative Instruments And Hedging Activities Tables  
Schedule of outstanding derivatives not designated as hedges in qualifying hedging relationships [Table TextBlock]

As of March 31, 2016, the Company had the following outstanding derivatives that were not designated as hedges in qualifying hedging relationships (in thousands):

 

Non-Designated Derivative Summary
 
    Number of Instruments   Sell Notional   Buy Notional
FX Forward Contracts                        
Sell AUD/Buy USD Fwd Contract     3     $ 475     $ 334  
Sell CAD/Buy USD Fwd Contract     3     $ 13,700     $ 10,109  
Total     6             $ 10,443  
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, 2016 and December 31, 2015 (in thousands):

 

    Tabular Disclosure of Fair Values of Derivative Instruments
    Derivatives Asset   Derivative Liabilities
    Fair Value as of:
    March 31,   December 31,   March 31,   December 31,
    2016   2015   2016   2015
Derivatives Not Designated as Hedging Instruments                
FX Forward Contracts                                
Balance Sheet Location   Other Assets     Other Assets     Other Liabilities     Other Liabilities  
Sell AUD/Buy USD Fwd Contract   $ 0     $ 0     $ (26 )   $ 0  
Sell CAD/Buy USD Fwd Contract   $ 0     $ 0     $ (443 )   $ 0  
                                 
Total   $ 0     $ 0     $ (469 )   $ 0  
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, 2016 and March 31, 2015 (in thousands):

 

Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated
as Hedging Instruments for the Three Months Ended March 31, 2016 and 2015
 
Derivatives Not Designated
as Hedging Instruments		   Location of Gain or (Loss) Recognized in Income   Amount of Gain or (Loss) Recognized in Income
        2016   2015
For the three months ended March 31,                    
Sell AUD/Buy USD Fwd Contract   Other Inc/Exp   $ (35 )   $ 0  
Sell CAD/Buy USD Fwd Contract   Other Inc/Exp   $ (545 )   $ 0  
Total       $ (580 )   $ 0  
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, 2016 (in thousands):

 

    Recurring Fair Value Measurements
             
    Quoted Prices in Active Markets for Identical Assets and Liabilities   Significant Other Observable Inputs   Significant Unobservable Inputs
    (Level 1)   (Level 2)   (Level 3)
    March 31,   March 31,   March 31,   March 31,   March 31,   March 31,
    2016   2015   2016   2015   2016   2015
Assets                                                
Derivative Financial Instruments   $ 0     $ 0     $ 0     $ 0     $ 0     $ 0  
Liabilities                                                
Derivative Financial Instruments   $ 0     $ 0     $ (469 )   $ 0     $ 0     $ 0