XML 85 R26.htm IDEA: XBRL DOCUMENT v3.20.1
Derivatives
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives
Derivatives
The following table sets forth the total net fair value of derivatives:
 
 
December 31, 2019
 
December 31, 2018
 
 
Fair Value Measurement Using
 
Total Balance
 
Fair Value Measurement Using
 
Total Balance
(In thousands)
 
Level 1
 
Level 2
 
Level 3
 
 
Level 1
 
Level 2
 
Level 3
 
Foreign currency exchange contracts
 
$
—

 
$
(172
)
 
$
—

 
$
(172
)
 
$
—

 
$
(249
)
 
$
—

 
$
(249
)

We held foreign currency exchange contracts which resulted in a net pre-tax loss of $0.1 million, a net pre-tax gain of $0.5 million, and a net pre-tax loss of $3.6 million for the years ended December 31, 2019, 2018, and 2017, respectively. See Note 17 for further information concerning our foreign currency exchange contracts.
Details of foreign currency exchange contracts held were as follows:
Date Held
 
Currency
 
Position Held
 
Notional Value
(in millions)
 
Forward Rate
 
Unrealized Gain/(Loss) Recorded at Balance Sheet
Date
(in thousands)(1)
 
Settlement Date
December 31, 2019
 
USD/Chinese Yuan Renminbi
 
USD
 
$
35.0

 
6.9867
 
$
100

 
January 23, 2020
December 31, 2019
 
USD/Brazilian Real
 
USD
 
$
0.5

 
4.0560
 
$
(6
)
 
January 24, 2020
December 31, 2019
 
USD/Euro
 
USD
 
$
28.0

 
1.1133
 
$
(253
)
 
January 24, 2020
December 31, 2019
 
USD/Brazilian Real
 
USD
 
$
0.7

 
4.0870
 
$
(13
)
 
January 24, 2020
December 31, 2018
 
USD/Euro
 
USD
 
$
20.0

 
1.1421
 
$
(97
)
 
January 25, 2019
December 31, 2018
 
USD/Chinese Yuan Renminbi
 
USD
 
$
27.0

 
6.8969
 
$
(116
)
 
January 25, 2019
December 31, 2018
 
USD/Chinese Yuan Renminbi
 
USD
 
$
5.0

 
6.9245
 
$
(41
)
 
January 25, 2019
December 31, 2018
 
USD/Brazilian Real
 
USD
 
$
1.0

 
3.8651
 
$
5

 
January 25, 2019
(1) 
Unrealized gains on foreign currency exchange contracts are recorded in prepaid expenses and other current assets. Unrealized losses on foreign currency exchange contracts are recorded in other accrued liabilities.