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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Currency Derivative Contracts Outstanding
As of March 31, 2018 and December 31, 2017, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):
 
 
March 31, 2018
Derivative Contracts
 
Notional Amount
 
Contractual Exchange Rate
 
Settlement Date
Canadian dollar
 
$
5,025

 
1.2935
 
6/15/2018
Euro
 
9,080

 
1.2438
 
6/15/2018
Norwegian krone
 
5,575

 
7.7127
 
6/15/2018
Pound sterling
 
6,105

 
1.4035
 
6/15/2018
 
 
December 31, 2017
Derivative Contracts
 
Notional Amount
 
Contractual Exchange Rate
 
Settlement 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
Impact of Derivatives Contracts on Condensed Consolidated Balance Sheets
The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of March 31, 2018 and December 31, 2017 (in thousands):
Derivatives not Designated as Hedging Instruments
 
Consolidated Balance Sheet Location
 
March 31, 2018
 
December 31, 2017
Foreign currency contracts
 
Accounts receivable, net
 
$
73

 
$
—

Foreign currency contracts
 
Accounts payable and accrued liabilities
 
—

 
(487
)
Impact of Derivatives Contracts on Condensed Consolidated Statements of Operations
The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands):
 
 
 
 
Three Months Ended
 
 
 
 
March 31,
Derivatives not Designated as Hedging Instruments
 
Location of Gain (Loss) Recognized in Income on Derivative Contracts
 
2018
 
2017
Unrealized gain (loss) on foreign currency contracts
 
Other income (expense), net
 
$
561

 
$
(456
)
Realized gain (loss) on foreign currency contracts
 
Other income (expense), net
 
(940
)
 
255

Total net loss on foreign currency contracts
 
 
 
$
(379
)
 
$
(201
)
Schedule of Derivative Assets, Gross and Net Fair Values
The following table presents the gross and net fair values of our derivatives at March 31, 2018 and December 31, 2017 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Gross position - asset / (liability)
 
$
115

 
$
—

 
$
(42
)
 
$
(487
)
Netting adjustment
 
(42
)
 
—

 
42

 
—

Net position - asset / (liability)
 
$
73

 
$
—

 
$
—

 
$
(487
)
Schedule of Derivative Liabilities, Gross and Net Fair Values
The following table presents the gross and net fair values of our derivatives at March 31, 2018 and December 31, 2017 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
March 31, 2018
 
December 31, 2017
 
March 31, 2018
 
December 31, 2017
Gross position - asset / (liability)
 
$
115

 
$
—

 
$
(42
)
 
$
(487
)
Netting adjustment
 
(42
)
 
—

 
42

 
—

Net position - asset / (liability)
 
$
73

 
$
—

 
$
—

 
$
(487
)