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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2015
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis by Level within Fair Value Hierarchy

Financial assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy, consisted of the following (in thousands), as of:

 

         March 31, 2015  
         Fair Value Measurements
Using Input Types
 
   

Line Item

   Level 1      Level 2      Level 3      Total  

Non-hedging derivative assets:

             

Foreign currency forward contracts

  Prepaid expenses and other current assets    $ 0       $ 2,619       $ 0       $ 2,619   

Non-hedging derivative liabilities:

             

Foreign currency forward contracts

  Accounts payable and accrued expenses    $ 0       $ 29       $ 0       $ 29   

 

         December 31, 2014  
         Fair Value Measurements
Using Input Types
 
   

Line Item

   Level 1      Level 2      Level 3      Total  

Non-hedging derivative assets:

             

Foreign currency forward contracts

  Prepaid expenses and other current assets    $ 0       $ 1,647       $ 0       $ 1,647   

Non-hedging derivative liabilities:

             

Foreign currency forward contracts

  Accounts payable and accrued expenses    $ 0       $ 6       $ 0       $ 6   
Sale Contracts Consisted in Foreign Currency Forward Contracts Outstanding

All foreign currency forward contracts outstanding as of March 31, 2015 were for durations of twelve months or less and consisted of the following sale contracts (in thousands):

 

    Notional Value
Local Currency
    Notional Value
U.S. Dollar
    Fair Value
Gain (Loss)
U.S. Dollar
 

Forward contracts to sell:

        

Australian Dollar

    AUD         985      $ 900      $ 153   

Brazilian Real

    BRL         3,184        1,300        330   

British Pound

    GBP         950        1,600        191   

Canadian Dollar

    CAD         757        700        103   

Chinese Renminbi

    CNY         10,664        1,700        (23

Euro

    EUR         3,534        4,800        998   

Indian Rupee

    INR         19,347        300        (5

Japanese Yen

    JPY         131,508        1,300        202   

Korean Won

    KRW         881,552        850        58   

Mexican Peso

    MXN         4,001        300        39   

Polish Zloty

    PLN         4,980        1,600        290   

Russian Rouble

    RUB         7,323        200        79   

Singapore Dollar

    SGD         500        400        36   

South African Rand

    ZAR         6,769        600        50   

Swedish Krona

    SEK         1,698        250        53   

Swiss Franc

    CHF         268        300        24   

Turkish New Lira

    TRY         230        100        13   

United Arab Emirates Dirham

    AED         738        200        (1
      

 

 

   

 

 

 
$ 17,400    $ 2,590   
      

 

 

   

 

 

 
Changes in Fair Value of Foreign Currency Forward Contracts

Changes in the fair value of our foreign currency forward contracts (in thousands) for the three months ended March 31, 2015 and 2014 were as follows:

 

   

Gain (Loss) on Derivative Instruments Recognized in Income

 
         Three Months Ended
March 31,
 
   

Location

   2015      2014  

Non-hedging derivative instruments:

       

Unrealized gain (loss) on foreign currency forward contracts

  Other income (expense), net    $ 949       $ (40

Realized loss on foreign currency forward contracts

  Other income (expense), net    $ 0       $ (255