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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value of Derivative Financial Instruments

The following table summarizes the fair value of our derivative financial instruments ($ in thousands):

 

     Fair Value of Derivatives in an
Asset Position as of(1)		      Fair Value of Derivatives in a
Liability Position as of(2)		  
     March 31, 2015      December 31, 2014      March 31, 2015      December 31, 2014  

Derivatives designated as hedging instruments:

            

Foreign exchange contracts

    $ 351       $ 1,138       $ —         $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total derivatives designated as hedging instruments

   351      1,138      —        —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Derivatives not designated as hedging instruments:

Foreign exchange contracts(3)

   36      —        52      —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total derivatives not designated as hedging instruments

   —        —        52      —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Derivatives

 $ 387    $ 1,138    $ 52    $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1)

Included in accrued interest receivable, prepaid expenses, and other assets in our consolidated balance sheet.
(2)

Included in accounts payable, accrued expenses, and other liabilities in our consolidated balance sheet.
(3)

Balances represent offsetting contracts with the same counterparty, both with a settlement date of May 11, 2015.
Summary of Impact of Derivative Financial Instruments on Consolidated Statement of Operations and Consolidated Statement of Comprehensive Income

The following table summarizes the impact of our derivative financial instruments on our consolidated statement of operations and consolidated statement of comprehensive income for the three months ended March 31, 2015 and 2014 ($ in thousands):

 

Derivatives in

Net Investment

Hedging Relationships

    Amount of Gain
(Loss) Recognized in
OCI on Derivative
(Effective Portion)(1)		      Location of Gain
(Loss) Reclassified
from Accumulated
OCI into Income
(Effective Portion)		    Amount of Gain
(Loss) Reclassified from
Accumulated OCI into
Income (Effective Portion)		  
   2015      2014         2015      2014  

Foreign Exchange contracts

    $ 3,337       $ —         Gain (Loss) on
Sale of Subsidiary		    $ —         $ —     
  

 

 

     

 

 

        

 

 

     

 

 

  

Total

 $ 3,337    $ —      $ —      $ —     
  

 

 

     

 

 

        

 

 

     

 

 

  

 

(1)

During the three months ended March 31, 2015 we received a cash settlement of $4.1 million on our foreign currency forward contracts.