XML 64 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Currency Derivative Contracts
As of December 31, 2017 and 2016, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):
 
 
December 31, 2017
 
 
Notional
 
Contractual
 
Settlement
Derivative Contracts
 
Amount
 
Exchange Rate
 
Date
Canadian dollar
 
$
6,226

 
1.2850
 
3/15/2018
Euro
 
5,326

 
1.1836
 
3/15/2018
Norwegian krone
 
6,212

 
8.3704
 
3/15/2018
Pound sterling
 
6,039

 
1.3419
 
3/15/2018


 
 
December 31, 2016
 
 
Notional
 
Contractual
 
Settlement
Derivative Contracts
 
Amount
 
Exchange Rate
 
Date
Canadian dollar
 
$
4,553

 
1.3179
 
3/14/2017
Euro
 
4,753

 
1.0563
 
3/14/2017
Euro
 
2,558

 
1.0659
 
1/13/2017
Norwegian krone
 
3,643

 
8.5101
 
3/14/2017
Pound sterling
 
3,908

 
1.2607
 
3/14/2017
Schedule of Fair Value by Balance Sheet Location
The following table summarizes the location and fair value amounts of all derivative contracts in the consolidated balance sheets as of December 31, 2017 and 2016 (in thousands):
Derivatives not designated as Hedging Instruments
 
Consolidated Balance Sheet Location
 
December 31, 2017
 
December 31, 2016
Foreign currency contracts
 
Accounts receivable, net
 
$
—

 
$
146

Foreign currency contracts
 
Accrued and other current liabilities
 
(487
)
 
—
Impact of Derivative Instruments on the Income Statement
The following table summarize the location and amounts of the unrealized and realized gains and losses on derivative contracts in the consolidated statements of operations as of December 31, 2017, 2016 and 2015 (in thousands):
Derivatives not designated as Hedging Instruments
 
Location of gain (loss) recognized in income on derivative contracts
 
December 31, 2017
 
December 31, 2016
 
December 31, 2015
Unrealized gain (loss) on foreign currency contracts
 
Other income, net
 
$
(634
)
 
$
(64
)
 
$
210

Realized loss on foreign currency contracts
 
Other income, net
 
(1,699
)
 
(296
)
 
—

Total net gain (loss) on foreign currency contracts
 
 
 
$
(2,333
)
 
$
(360
)
 
$
210
Offsetting Assets
The following table presents the gross and net fair values of our derivatives as of December 31, 2017 and 2016 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2017
 
2016
 
2017
 
2016
Gross position - asset / (liability)
 
$
—

 
$
181

 
$
(487
)
 
$
(35
)
Netting adjustment
 
—

 
(35
)
 
—

 
35

Net position - asset / (liability)
 
$
—

 
$
146

 
$
(487
)
 
$
—

 
 
 
 
 
 
 
 
 
Offsetting Liabilities
The following table presents the gross and net fair values of our derivatives as of December 31, 2017 and 2016 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2017
 
2016
 
2017
 
2016
Gross position - asset / (liability)
 
$
—

 
$
181

 
$
(487
)
 
$
(35
)
Netting adjustment
 
—

 
(35
)
 
—

 
35

Net position - asset / (liability)
 
$
—

 
$
146

 
$
(487
)
 
$
—