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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2018
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 December 31, 2018 and 2017:

 

     December 31, 2018  

Currency Hedged (Buy/Sell)

    Gross  Notional
Value		      Fair Value(1)  

U.S. Dollar/Japanese Yen

    $ 43,770      $ (478 ) 

U.S. Dollar/South Korean Won

      59,149        570  

U.S. Dollar/Euro

      23,515        688  

U.S. Dollar/U.K. Pound Sterling

      11,827        323  

U.S. Dollar/Taiwan Dollar

      21,133        214  
  

 

 

     

 

 

  

Total

    $ 159,394      $ 1,317  
  

 

 

     

 

 

  

 

     December 31, 2017  

Currency Hedged (Buy/Sell)

    Gross  Notional
Value		      Fair Value(1)  

U.S. Dollar/Japanese Yen

    $ 70,175      $ (233 ) 

U.S. Dollar/South Korean Won

      79,672        (3,799 ) 

U.S. Dollar/Euro

      26,140        (1,047 ) 

U.S. Dollar/U.K. Pound Sterling

      12,104        (337 ) 

U.S. Dollar/Taiwan Dollar

      20,831        (614 ) 
  

 

 

     

 

 

  

Total

    $ 208,922      $ (6,030 ) 
  

 

 

     

 

 

  

 

(1)

Represents the receivable (payable) 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:

 

     Years Ended December 31,  

Derivatives Designated as Hedging Instruments

            2018                      2017          

Derivative assets:

      

Forward exchange contracts(1)

    $ 2,485      $ 168  

Foreign currency interest rate hedge(2)

      6,083        6,179  

Derivative liabilities:

      

Forward exchange contracts(1)

      (1,168 )       (6,198 ) 
  

 

 

     

 

 

  

Total net derivative asset designated as hedging instruments

    $ 7,400      $ 149  
  

 

 

     

 

 

  

 

(1)

The derivative asset of $2,485 and derivative liability of $1,168 related to the forward foreign exchange contracts are classified in other current assets and other current liabilities in the consolidated balance sheet as of December 31, 2018. The derivative asset of $168 and derivative liability of $6,198 related to the forward foreign exchange contracts are classified in other current assets and other current liabilities in the consolidated balance sheet as of December 31, 2017. These forward 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.
(2)

The foreign currency interest rate hedge asset of $6,083 and $6,179 is classified in other assets in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.
Summary of Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments

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

 

     Years Ended December 31,  

Derivatives Designated as Cash Flow Hedging Instruments

    2018      2017      2016  

Forward exchange contracts:

         

Net gain (loss) recognized in OCI(1)

    $ 6,289      $ (6,036 )     $ 5,914  

Net loss reclassified from OCI into income(2)

    $ (3,367 )     $ (2,685 )     $ (1,414 ) 

 

(1)

Net change in the fair value of the effective portion classified in OCI.
(2)

Effective portion classified as cost of products.
Summary of Losses on Derivatives Not Designated as Cash Flow Hedging Instruments

The following table provides a summary of losses on derivatives not designated as cash flow hedging instruments:

 

     Years Ended December 31,  

Derivatives Not Designated as Hedging Instruments

        2018              2017              2016      

Forward exchange contracts:

         

Net gain (loss) recognized in income (1)

    $ 105      $ (3,416 )     $ (31 ) 

 

(1)

The Company enters into forward foreign exchange contracts to hedge against changes in the balance sheet for certain subsidiaries to mitigate the risk associated with certain foreign currency transactions in the ordinary course of business. These derivatives are not designated as cash flow hedging instruments and gains or losses from these derivatives are recorded immediately in other expense, net in 2018 and 2017.