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Derivatives and Hedging Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

The following table summarizes the fair value of derivative instruments as recorded in the Company’s condensed consolidated statements of financial condition (in thousands):

	June 30, 2018						December 31, 2017
	Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Derivatives designated as hedging instruments:
Foreign currency exchange contracts	Other assets		$	377			Other assets		$	1,912
Foreign currency exchange contracts	Other liabilities		(633		)		Other liabilities		—
Interest rate swap agreements	Other assets		10				Other liabilities		(7		)
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other assets		658				Other assets		—
Foreign currency exchange contracts	Other liabilities		(6,578		)		Other liabilities		(1,110		)
Interest rate cap contracts	Other assets		2,191				Other assets		3,922

Schedule of Effects of Derivatives in Cash Flow Hedging

The following table summarizes the effects of derivatives in cash flow hedging relationships designated as hedging instruments on the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2018 and 2017 (in thousands):

Derivatives Designated as Hedging Instruments		Gain or (Loss) Recognized in OCI								Location of Gain or (Loss) Reclassified from OCI into Income		Gain or (Loss) Reclassified from OCI into Income
		Three Months Ended  June 30,										Three Months Ended  June 30,
		2018				2017						2018				2017
Foreign currency exchange contracts		$	(967	)		$	1,146			Salaries and employee benefits		$	434			$	297
Foreign currency exchange contracts		(76		)		160				General and administrative expenses		35				27
Interest rate swap agreements		(21		)		14				Interest expense		8				33

Derivatives Designated as Hedging Instruments		Gain or (Loss) Recognized in OCI								Location of Gain or (Loss) Reclassified from OCI into Income		Gain or (Loss) Reclassified from OCI into Income
		Six Months Ended  June 30,										Six Months Ended  June 30,
		2018				2017						2018				2017
Foreign currency exchange contracts		$	(1,074	)		$	1,735			Salaries and employee benefits		$	983			$	472
Foreign currency exchange contracts		(76		)		240				General and administrative expenses		35				41
Interest rate swap agreements		(12		)		19				Interest expense		25				110

The following table summarizes the effects of derivatives in cash flow hedging relationships not designated as hedging instruments on the Company’s condensed consolidated statements of operations for the three and six months ended June 30, 2018 and 2017 (in thousands):

Derivatives Not Designated as Hedging Instruments		Location of Gain or (Loss) Recognized in Income on Derivative		Amount of Gain or (Loss) Recognized in Income on Derivative
				Three Months Ended  June 30,								Six Months Ended  June 30,
				2018				2017				2018				2017
Foreign currency exchange contracts		Other (expense) income		$	(6,174	)		$	2,875			$	(6,940	)		$	2,623
Interest rate cap contracts		Interest expense		(1,628		)		—				(1,716		)		—
Interest rate swap agreements		Interest expense		—				33				—				110

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- References

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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