XML 63 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Foreign Currency Derivative Contracts
As of December 31, 2018 and 2017, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):
 
 
December 31, 2018
 
 
Notional
 
Contractual
 
Settlement
Derivative Contracts
 
Amount
 
Exchange Rate
 
Date
Canadian dollar
 
$
2,248

 
1.3343
 
3/18/2019
Euro
 
6,967

 
1.1421
 
3/18/2019
Norwegian krone
 
7,713

 
8.5566
 
3/18/2019
Pound sterling
 
16,452

 
1.2655
 
3/18/2019


 
 
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
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, 2018 and 2017 (in thousands):
Derivatives not designated as Hedging Instruments
 
Consolidated Balance Sheet Location
 
December 31, 2018
 
December 31, 2017
Foreign currency contracts
 
Accounts payable and accrued liabilities
 
$
(101
)
 
$
(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, 2018, 2017 and 2016 (in thousands):
Derivatives not designated as Hedging Instruments
 
Location of gain (loss) recognized in income on derivative contracts
 
December 31, 2018
 
December 31, 2017
 
December 31, 2016
Unrealized gain (loss) on foreign currency contracts
 
Other income, net
 
$
386

 
$
(634
)
 
$
(64
)
Realized gain (loss) on foreign currency contracts
 
Other income, net
 
1,661

 
(1,699
)
 
(296
)
Total net gain (loss) on foreign currency contracts
 
 
 
$
2,047

 
$
(2,333
)
 
$
(360
)
Offsetting Assets
The following table presents the gross and net fair values of our derivatives as of December 31, 2018 and 2017 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2018
 
2017
 
2018
 
2017
Gross position - asset / (liability)
 
$
113

 
$
—

 
$
(214
)
 
$
(487
)
Netting adjustment
 
(113
)
 
—

 
113

 
—

Net position - asset / (liability)
 
$
—

 
$
—

 
$
(101
)
 
$
(487
)
 
 
 
 
 
 
 
 
 
Offsetting Liabilities
The following table presents the gross and net fair values of our derivatives as of December 31, 2018 and 2017 (in thousands):
 
 
Derivative Asset Positions
 
Derivative Liability Positions
 
 
December 31,
 
December 31,
 
 
2018
 
2017
 
2018
 
2017
Gross position - asset / (liability)
 
$
113

 
$
—

 
$
(214
)
 
$
(487
)
Netting adjustment
 
(113
)
 
—

 
113

 
—

Net position - asset / (liability)
 
$
—

 
$
—

 
$
(101
)
 
$
(487
)