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Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2018
Derivative Financial Instruments |
Derivative Financial Instruments | Note 13 — Derivative Financial Instruments The Company is exposed to financial market risks arising from changes in currency exchange rates. Changes in currency exchange rate changes could affect the Company’s foreign currency denominated monetary assets and liabilities and forecasted cash flows. The Company entered into monthly forward derivative contracts with the intent of mitigating a portion of this risk. The Company only used derivative financial instruments in the context of hedging and not for speculative purposes and had not designated its foreign exchange derivatives as hedges. Accordingly, changes in fair value from these contracts were recorded as “Other, net” in the Company’s Consolidated Statements of Operations. The Company executed derivative transactions with highly rated financial institutions to mitigate counterparty risk. The Company did not have any outstanding derivative contracts at December 31, 2018. A summary of the foreign exchange derivatives outstanding on December 31, 2017 is as follows:
|  | December 31, 2017
|  | Fair Value |  | Maturity Dates |  | Notional Amount
|  | (in thousands)
Foreign currency exchange forwards |  | $ | — |  | January 2018 |  | $ | 622
The following table shows the gains and (losses) from currency exchange derivatives during the years ended December 31, 2018, 2017, and 2016, which are included in “Other, net” in the Consolidated Statements of Operations as well as the weighted average notional amount of derivatives outstanding for each period:
|  | Year ended December 31,
|  | 2018 |  | 2017 |  | 2016
|  |  | Gains (losses) |  | Weighted average notional amount |  |  | Gains (losses) |  | Weighted average notional amount |  |  | Gains (losses) |  | Weighted average notional amount
|  | (in thousands)
Foreign currency exchange forwards |  | $ | 327 |  | 2,869 |  | $ | (6) |  | 314 |  | $ | 219 |  | 7,175

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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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