Financial Instruments (Policies)

9 Months Ended

Sep. 30, 2017

Financial Instruments [Abstract]

Financial Instruments

Derivatives Not Designated as Hedging Instruments

Both the gain or loss on the derivatives not designated as hedging instruments and the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. Realized gains or losses and changes in the estimated fair value of foreign currency forward contracts that have not been designated as hedges were an immaterial net gain during the three months ended September 30, 2017 and a $0.1 million net gain for the nine months ended September 30, 2017. A net loss of $0.1 million and $0.2 million was recognized during the three and nine months ended September 30, 2016, respectively. Gains and losses on these contracts are recorded in net other expense (income) and net interest expense in the Unaudited Condensed Consolidated Statements of Operations and are offset by losses and gains on the related hedged items. The fair value of the Company's derivative instruments outstanding as of September 30, 2017 was immaterial.