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Derivatives (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Currency Derivative Contracts Outstanding

As of September 30, 2019 and December 31, 2018, we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands):

		September 30, 2019
Derivative Contracts		Notional Amount				Contractual Exchange Rate		Settlement Date
Canadian dollar		$	1,362			1.3220		12/16/2019
Euro		7,457				1.1130		12/16/2019
Norwegian krone		10,254				8.9717		12/16/2019
Pound sterling		16,089				1.2377		12/16/2019

		December 31, 2018
Derivative Contracts		Notional Amount				Contractual Exchange Rate		Settlement 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

Impact of Derivative 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 September 30, 2019 and December 31, 2018 (in thousands):

Derivatives not Designated as Hedging Instruments		Consolidated Balance Sheet Location		September 30, 2019				December 31, 2018
Foreign currency contracts		Accounts receivables, net		$	248			$	—
Foreign currency contracts		Accounts payable and accrued liabilities		—				(101		)

Impact of Derivative 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								Nine Months Ended
				September 30,								September 30,
Derivatives not Designated as Hedging Instruments		Location of Gain (Loss) Recognized in Income on Derivative Contracts		2019				2018				2019				2018
Unrealized gain (loss) on foreign currency contracts		Other income, net		$	553			$	(323	)		$	349			$	442
Realized gain on foreign currency contracts		Other income, net		1,059				447				1,471				572
Total net gain on foreign currency contracts				$	1,612			$	124			$	1,820			$	1,014

Schedule of Derivative Assets, Gross and Net Fair Values

The following table presents the gross and net fair values of our derivatives at September 30, 2019 and December 31, 2018 (in thousands):

		Derivative Asset Positions								Derivative Liability Positions
		September 30, 2019				December 31, 2018				September 30, 2019				December 31, 2018
Gross position - asset / (liability)		$	248			$	113			$	—			$	(214	)
Netting adjustment		—				(113		)		—				113
Net position - asset / (liability)		$	248			$	—			$	—			$	(101	)

Schedule of Derivative Liabilities, Gross and Net Fair Values

The following table presents the gross and net fair values of our derivatives at September 30, 2019 and December 31, 2018 (in thousands):

		Derivative Asset Positions								Derivative Liability Positions
		September 30, 2019				December 31, 2018				September 30, 2019				December 31, 2018
Gross position - asset / (liability)		$	248			$	113			$	—			$	(214	)
Netting adjustment		—				(113		)		—				113
Net position - asset / (liability)		$	248			$	—			$	—			$	(101	)

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