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Derivative Financial Instruments | 9 Months Ended
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Sep. 30, 2019
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) losses, net, in the unaudited Condensed Consolidated Statement of Income. The notional amount of open forward contracts was $75.7 million and $72.4 million at September 30, 2019, and December 31, 2018, respectively. The following table presents the unaudited Condensed Consolidated Balance Sheet location and fair value of assets and liabilities associated with derivative financial instruments:
(In thousands) |  | September 30, 2019 |  | December 31, 2018
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange contracts: other current liabilities |  | $ | 559 |  |  | $ | 12 |
Foreign exchange contracts: other current assets |  | 29 |  |  | 488 |
The following table presents the unaudited Condensed Consolidated Statement of Income location and impact of derivative financial instruments:
|  |  |  | Loss Recognized in Income
|  |  |  | Nine Months Ended September 30,
(In thousands) |  | Statement of Income Location |  | 2019 |  | 2018
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange contracts |  | Currency exchange (gains) losses, net |  | $ | 4,647 |  |  | $ | 1,202 |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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