Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Derivative Instruments

As of December 31, 2018, 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 Derivatives Summary

 

(in thousands except for number of instruments)   Number of
Instruments		   Sell
Notional		   Buy
Notional
FX Forward Contracts                        
Sell AUD/Buy USD Fwd Contract     8     $ 1,000     $ 724  
Sell CAD/Buy USD Fwd Contract     10     $ 6,550     $ 4,940  
Total     18       —       $ 5,664  
Derivative Instruments - Balance Sheets and Income Statement Effects

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 December 31, 2018 and December 31, 2017 (in thousands):

 

    Tabular Disclosure of Fair Values of Derivative Instruments
    Derivative Asset   Derivative Liabilities
    Fair Value as of:
    December 31,   December 31,   December 31,   December 31,
    2018   2017   2018   2017
Derivatives Not Designated as Hedging Instruments                
FX Forward Contracts                                
Balance Sheet Location     Other Assets       Other Assets       Other Current Liabilities       Other Current Liabilities  
Sell AUD/Buy USD Fwd Contract   $ 18     $ —         (1 )   $ (9 )
Sell CAD/Buy USD Fwd Contract   $ 121     $ —         (4 )   $ (61 )
Total   $ 139     $ —         (5 )   $ (70 )

 

The table below presents the effect of the Company’s derivative financial instruments on the Income Statement as of December 31, 2018 and December 31, 2017 (in thousands):

 

Effect of Derivative Instruments on the Income Statement for Derivatives Not Designated
as Hedging Instruments for the Twelve Months Ended December 31, 2018 and 2017

 

Derivatives Not Designated as
Hedging Instruments		   Location of
Gain or (Loss)
Recognized
in Income		   Amount of Gain or (Loss)
Recognized in Income
Twelve Months Ended
December 31,
        2018   2017
Sell AUD/Buy USD Fwd Contract   Other Inc/(Exp)   $ 67     $ (29 )
Sell CAD/Buy USD Fwd Contract   Other Inc/(Exp)     423       (304 )
Total       $ 490     $ (333 )