XML 32 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
DERIVATIVES AND HEDGING ACTIVITIES
 12 Months Ended
Dec. 31, 2016
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,		  
     2015      2016  

Derivative assets:

      

Derivatives designated as cash flow hedging instruments:

      

Foreign exchange forward contracts

    $ 9      $ 6  
  

 

 

     

 

 

  

Total

    $ 9      $ 6  
  

 

 

     

 

 

  

 

The Company recorded the fair value of derivative assets in “prepaid expenses and other accounts receivable” 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,  
     2014      2015      2016  

Derivatives designated as cash flow hedging instruments:

         

Foreign exchange option contracts

    $ (389 )     $ 83      $ 67  

Foreign exchange forward contracts

      (41 )       94        91  
  

 

 

     

 

 

     

 

 

  
   $ (430 )     $ 177      $ 158  
  

 

 

     

 

 

     

 

 

  

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

 

     Year ended December 31,  
     2014      2015      2016  

Derivatives designated as cash flow hedging instruments:

         

Foreign exchange option contracts

    $ 337      $ (31 )     $ (67 ) 

Foreign exchange forward contracts

      45        (73 )       (94 ) 
  

 

 

     

 

 

     

 

 

  
   $ 382      $ (104 )     $ (161 ) 
  

 

 

     

 

 

     

 

 

  

The Company recorded in cost of revenues and operating expenses, a net loss of $382, a net gain of $104 and a net gain of $161 during the years ended December 31, 2014, 2015 and 2016, respectively, related to its Hedging Contracts.