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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Primary Net Hedging Positions and Corresponding Fair Values

The following tables provide a summary of the primary net hedging positions and corresponding fair values held as of March 31, 2016 and December 31, 2015:

 

     March 31, 2016  

Currency Hedged (Buy/Sell)

    Gross Notional
Value		      Fair Value(1)
Asset/(Liability)		  

U.S. Dollar/Japanese Yen

    $ 19,664       $ (1,333 ) 

U.S. Dollar/South Korean Won

      26,906         (208 ) 

U.S. Dollar/Euro

      7,600         (286 ) 

U.S. Dollar/U.K. Pound Sterling

      2,950         128   

U.S. Dollar/Taiwan Dollar

      8,676         (7 ) 
  

 

 

     

 

 

  

Total

    $ 65,796       $ (1,706 ) 
  

 

 

     

 

 

  

 

(1) Represents the fair value of the net (liability) asset amount included in the consolidated balance sheet.

 

     December 31, 2015  

Currency Hedged (Buy/Sell)

    Gross Notional
Value		      Fair Value(1)
Asset/(Liability)		  

U.S. Dollar/Japanese Yen

    $ 26,848       $ (136 ) 

U.S. Dollar/South Korean Won

      34,777         915   

U.S. Dollar/Euro

      10,987         19   

U.S. Dollar/U.K. Pound Sterling

      4,587         61   

U.S. Dollar/Taiwan Dollar

      12,790         364   
  

 

 

     

 

 

  

Total

    $ 89,989       $ 1,223   
  

 

 

     

 

 

  

 

(1) Represents the fair value of the net (liability) asset amount included in the consolidated balance sheet.
Summary of Fair Value Amounts of Company's Derivative Instruments

The following table provides a summary of the fair value amounts of the Company’s derivative instruments:

 

Derivatives Designated as Hedging Instruments

    March 31, 2016      December 31, 2015  

Derivative assets:

      

Forward exchange contracts

    $ 487       $ 1,486   

Derivative liabilities:

      

Forward exchange contracts

      (2,193 )       (263 ) 
  

 

 

     

 

 

  

Total net derivative (liabilities) assets designated as hedging instruments(1)

    $ (1,706 )     $ 1,223   
  

 

 

     

 

 

  

 

(1) The derivative asset of $487 and derivative liability of $2,193 are classified in other current assets and other current liabilities in the consolidated balance sheet as of March 31, 2016. The derivative asset of $1,486 and derivative liability of $263 are classified in other current assets and other current liabilities in the consolidated balance sheet as of December 31, 2015. These foreign exchange contracts are subject to a master netting agreement with one financial institution. However, the Company has elected to record these contracts on a gross basis in the balance sheet.
Summary of (Losses) Gains on Derivatives Designated as Hedging Instruments

The following table provides a summary of the (losses) gains on derivatives designated as hedging instruments:

 

     Three Months Ended March 31,  

Derivatives Designated as Cash Flow Hedging Instruments

    2016      2015  

Forward exchange contracts:

      

Net loss recognized in OCI(1)

    $ (3,418 )     $ (2,090 ) 

Net gain reclassified from accumulated OCI into income(2)

    $ 696       $ 1,193   

 

(1) Net change in the fair value of the effective portion classified in OCI.
(2) Effective portion classified in cost of products for the three months ended March 31, 2016 and 2015. The tax effect of the gains or losses reclassified from accumulated OCI into income is immaterial.
Summary of (Losses) Gains on Derivatives Not Designated as Hedging Instruments

The following table provides a summary of the (losses) gains on derivatives not designated as hedging instruments:

 

     Three Months Ended March 31,  

Derivatives Not Designated as Hedging Instruments

    2016      2015  

Forward exchange contracts:

      

Net (loss) gain recognized in income(1)

    $ (565 )     $ 98   

 

(1) The Company enters into foreign exchange contracts to hedge against changes in the balance sheet for certain subsidiaries. These derivatives are not designated as hedging instruments and gains or losses from these derivatives are recorded immediately in selling, general and administrative expenses.