XML 55 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments
As part of our currency exchange rate risk management strategy, we may enter into certain derivative foreign currency forward contracts that do not meet the U.S. GAAP criteria for hedge accounting, but which have the impact of partially offsetting certain foreign currency exposures. We account for these forward contracts at fair value and report the related gains or losses in currency exchange gains or losses. The notional amount of open forward contracts was $58.1 million and $60.9 million at March 31, 2015 and December 31, 2014, respectively.
The following table presents the balance sheet location and fair value of assets associated with derivative financial instruments:
(In thousands)
 
March 31, 2015
 
December 31, 2014
Derivatives not designated as hedging instruments:
 
 
 
 
Foreign exchange contracts: Other current liabilities
 
$
1,656

 
$
395


The following table presents the income statement location and impact of derivative financial instruments:
 
 
 
 
Loss
Recognized in Income
 
 
 
 
Three Months Ended March 31,
(In thousands)
 
Income Statement
Location
 
2015
 
2014
Derivatives not designated as hedging instruments:
 
 
 
 
Foreign exchange contracts
 
Currency exchange losses, net
 
$
2,268

 
$
805