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Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments and Fair Value Measurements [Abstract]

Notional Amounts and Fair Values of Derivative Instruments in the Consolidated Balance

The notional amounts and fair values of derivative instruments in the consolidated balance sheets were as follows:



					Accrued expenses and
	Notional amounts (A)				other current liabilities
	December 31,		December 31,		December 31,		December 31,
	2017		2016		2017		2016
Derivatives designated as hedging instruments:
Cash flow hedges:
Forward currency contracts	$                 9,143		$                 5,699		$                    221		$                      28
Derivatives not designated as hedging instruments:
Forward currency contracts	$                 1,486		$                 1,601		$                      48		$                        3



(A) Notional amounts represent the gross contract / notional amount of the derivatives outstanding.



Amounts Recorded for the Cash Flow Hedges in Other Comprehensive Income (Loss) in Shareholders' Equity and in Net Income



Gross amounts recorded for the cash flow hedges in other comprehensive loss in shareholders’ equity and in net income for the years ended December 31 were as follows:


								Gain (loss) reclassified from
		Gain (loss) recorded in other						other comprehensive income
		comprehensive income (loss)						(loss) into net income (A)
		2017		2016		2015		2017		2016		2015
Derivatives designated as cash flow hedges:
Forward currency contracts	$	441	$	(582)		(671)	$	634	$	(164)		(1,060)



Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following table presents our liabilities that are measured at fair value on a recurring basis and are categorized using the three levels of the fair value hierarchy based on the reliability of inputs used.




								December 31, 2017		December 31, 2016
			Fair values estimated using
				Level 1		Level 2		Level 3
		Fair value		inputs		inputs		inputs		Fair value
Financial liabilities carried at fair value:
Forward currency contracts	$	269	$	-	$	269	$	-	$	31
Earn-out consideration		20,746		-		-		20,746		-
Total financial liabilities carried at fair value	$	21,015	$	-	$	269	$	20,746	$	31


The following table sets forth a summary of the change in fair value of the Company’s Level 3 financial liabilities related to earn-out consideration that are measured at fair value on a recurring basis. 




		Orlaco		PST		Total
Balance at December 31, 2016	$	-	$	-	$	-
Fair value on acquisition date		3,243		10,180		13,423
Change in fair value		4,853		2,632		7,485
Foreign currency adjustments		541		(703)		(162)
Balance at December 31, 2017	$	8,637	$	12,109	$	20,746




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- Definition

Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=64837297&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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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