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Fair Value Measurements
 12 Months Ended
Dec. 31, 2015
Fair Value Measurements

(4) Fair Value Measurements

As of December 31, 2015, there were no financial assets or liabilities measured at fair value on a recurring basis. As of December 31, 2014, 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:

 

          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   

The fair value of our foreign currency forward contracts is determined using Level 2 observable market inputs to extrapolate forward points to be added to or subtracted from the closing market spot rate on the reporting date, and then discounted to present value.

 

Changes in the fair value of our foreign currency forward contracts during 2015, 2014, and 2013 were as follows (in thousands):

 

          Years Ended December 31,  
    

Location

    2015      2014      2013  

Non-hedging derivative instruments:

            

Unrealized (loss) gain on foreign currency forward contracts

    Other income (expense), net    $ (1,641 )     $ 1,682       $ (41 ) 

Realized gain (loss) on foreign currency forward contracts

    Other income (expense), net    $ 2,129       $ (562 )     $ (629 ) 

The “unrealized (loss) gain on foreign currency forward contracts” line item in the above table includes both the unrealized fair value gains and losses on outstanding foreign currency forward contracts and the reversal of previous period unrealized gains and losses upon the settlement of foreign currency forward contracts. There were no foreign currency forward contracts outstanding as of December 31, 2015. There were no transfers among the levels within the fair value hierarchy during the years ended December 31, 2015, 2014, and 2013. As of December 31, 2015 and December 31, 2014, the Company had no assets or liabilities that were required to be measured at fair value on a non-recurring basis.