The Company, when it considers it to be appropriate, enters into forward contracts to hedge the economic exposures arising from foreign currency denominated transactions. At March 31, 2019 and December 31, 2018, these contracts included the future sale of Japanese Yen to purchase U.S. dollars. Derivative instruments are measured at fair value and recognized as either, “Prepaid expenses and other current assets” or “Other current liabilities” in the Condensed Consolidated Balance Sheets with changes in the net derivatives position reflected in operating cash flows. The foreign currency forward contracts were entered into by the Company’s Japanese subsidiary to economically hedge a portion of certain intercompany obligations. The forward contracts are not designated as hedges for accounting purposes and increases in the fair value of $45 for the three months ended March 31, 2019 and a decrease in the fair value of $433 for the three months ended March 31, 2018, are recorded under the caption “Other expense (income), net” in the Condensed Consolidated Statements of Operations.

The dollar equivalent of the U.S. dollar forward contracts and related fair values as of March 31, 2019 and December 31, 2018 were as follows:

	March 31, 2019		December 31, 2018
Notional amount	$	5,806	$	6,746
Fair value of asset (liability)	$	13	$	(32	)