XML 64 R13.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Derivative and Hedging Activities | 12 Months Ended
--- | ---
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments and Hedging Activities Disclosure | DERIVATIVES AND HEDGING ACTIVITIES Derivatives Not Designated as Hedging Instruments (Balance Sheet Hedges) The Company’s balance sheet hedges consist of foreign currency forward contracts which mature generally within three months. These forward contracts are carried at fair value and they are used to minimize the short-term impact of foreign currency exchange rate fluctuation on cash and certain trade and inter-company receivables and payables. Changes in the fair value of these foreign currency forward contracts are recognized in “Other expense, net” in the Consolidated Statement of Operations and are largely offset by the changes in the fair value of the assets or liabilities being hedged. The locations and amounts of designated and non-designated derivative instruments’ gains and losses reported in the Company’s A OCI and Consolidated Statements of Operations are as follows (in thousands):
|  |  |  | Year ended December 31,
|  | Financial Statement Location |  | 2019 |  | 2018 |  | 2017
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Gains (losses) recognized in income |  | Other expense, net |  | $ | 1,374 |  |  | $ | (2,325 | ) |  | $ | 155 |
|  | December 31,
|  | 2019 |  | 2018
Derivatives not designated as hedging instruments: |  |  |  |
Purchase |  | $ | 14,806 |  |  | $ | 28,975 |
Sell |  | $ | 2,629 |  |  | $ | — |
The locations and fair value amounts of the Company’s derivative instruments reported in its Consolidated Balance Sheets are as follows (in thousands):
|  |  |  |  | Asset Derivatives
|  |  | Balance Sheet Location |  | December 31, 2019 |  | December 31, 2018
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency contracts |  |  | Prepaid expenses and other current assets |  | $ | 43 |  |  | $ | — |
|  |  |  |  | $ | 43 |  |  | $ | — |
|  |  |  |  | Liability Derivatives
|  |  | Balance Sheet Location |  | December 31, 2019 |  | December 31, 2018
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency contracts |  |  | Accrued and other current liabilities |  | $ | 112 |  |  | $ | 333 |
|  |  |  |  | $ | 112 |  |  | $ | 333 |
Offsetting of Derivative Assets and Liabilities The Company recognizes all derivative instruments on a gross basis in the Consolidated Balance Sheets. However, the arrangements with its counterparties allows for net settlement, which are designed to reduce credit risk by permitting net settlement with the same counterparty. As of December 31, 2019, information related to the offsetting arrangements was as follows (in thousands):
|  | Gross Amounts of Derivatives |  | Gross Amounts of Derivatives Offset in the Consolidated Balance Sheets |  | Net Amounts of Derivatives Presented in the Consolidated Balance Sheets
Derivative assets |  | $ | 43 |  |  | $ | — |  |  | $ | 43 |
Derivative liabilities |  | $ | 112 |  |  | $ | — |  |  | $ | 112 |
In connection with foreign currency derivatives entered in Israel, the Company’s subsidiaries in Israel are required to maintain a compensating balance with their bank at the end of each month. The compensating balance arrangements do not legally restrict the use of cash. As of December 31, 2019 and 2018, the total compensating balance maintained was $1.0 million.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration