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DERIVATIVES AND HEDGING ACTIVITIES
 12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES AND HEDGING ACTIVITIES

NOTE 9: DERIVATIVES AND HEDGING ACTIVITIES

The fair value of the Company’s outstanding derivative instruments is as follows:

 

     As at December 31,  
       2014          2015    

Derivative assets:

      

Derivatives designated as cash flow hedging instruments:

      

Foreign exchange forward contracts

    $ —         $ 9   
  

 

 

     

 

 

  

Total

    $ —         $ 9   
  

 

 

     

 

 

  

Derivative liabilities:

      

Derivatives designated as cash flow hedging instruments:

      

Foreign exchange option contracts

    $ 52       $ —     

Foreign exchange forward contracts

      12         —     
  

 

 

     

 

 

  

Total

    $ 64       $ —     
  

 

 

     

 

 

  

 

The Company recorded the fair value of derivative assets in “prepaid expenses and other accounts receivable” and the fair value of derivative liabilities in “accrued expenses and other payables” on the Company’s consolidated balance sheets.

The increase (decrease) in unrealized gains (losses) recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows:

 

     Year ended December 31,  
     2013      2014      2015  

Derivatives designated as cash flow hedging instruments:

         

Foreign exchange option contracts

    $ 108       $ (389 )     $ 83   

Foreign exchange forward contracts

      175         (41 )       94   
  

 

 

     

 

 

     

 

 

  
   $ 283       $ (430 )     $ 177   
  

 

 

     

 

 

     

 

 

  

The net (gains) losses reclassified from “accumulated other comprehensive income (loss)” into income, are as follows:

 

     Year ended December 31,  
     2013      2014      2015  

Derivatives designated as cash flow hedging instruments:

         

Foreign exchange option contracts

    $ (266 )     $ 337       $ (31 ) 

Foreign exchange forward contracts

      (249 )       45         (73 ) 
  

 

 

     

 

 

     

 

 

  
   $ (515 )     $ 382       $ (104 ) 
  

 

 

     

 

 

     

 

 

  

The Company recorded in cost of revenues and operating expenses, a net gain of $515, a net loss of $382 and a net gain of $104 during the years ended December 31, 2013, 2014 and 2015, respectively, related to its Hedging Contracts. In addition, the Company recorded in financial income, net, a net gain of $112 during the year ended December 31, 2013, related to derivatives not qualified as hedging instruments. There were no derivatives not qualified as hedging instruments during 2014 and 2015.