DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value of Company Outstanding Forward Contracts

The fair value of the Company’s outstanding forward contracts was as follows:

(in thousands)	March 31, 2017			December 31, 2016
	Recorded In:	Fair Value		Recorded In:	Fair Value
Asset Derivatives
Foreign currency forward contracts	Other current assets	$	90	Other current assets	$	628
Liability Derivatives
Foreign currency forward contracts	Accrued expenses	$	17	Accrued expenses	$	883

Forward Contracts Outstanding with Total Notional Values

The Company had forward contracts outstanding with total notional values as follows:

	As of March 31, 2017
Currency (in thousands)	2017		2016
Euro	€	12,305	€	15,590
British pound	£	855	£	2,605
Australian dollar	A$	10,160	A$	16,025
Indian rupee	Rs	—	Rs	303,500
United States dollar	$	14,705	$	21,080

Change in Fair Value of Forward Contracts

	As of March 31, 2017
Currency (in thousands)	2017			2016
Euro	€	12,305		€	15,590
British pound	£	855		£	2,605
Australian dollar	A$	10,160		A$	16,025
Indian rupee	Rs	—		Rs	303,500
United States dollar	$	14,705		$	21,080
	Three Months Ended March 31,
(in thousands)	2017			2016
Loss from the change in the fair value of forward contracts included in other expense, net	$	(279	)	$	(2,297	)
Foreign currency transaction gain from the remeasurement of foreign currency assets and liabilities	$	676		$	1,376
Net gain (loss)	$	397		$	(921	)