Fair Value (Tables)

3 Months Ended

Mar. 31, 2018

Financial Assets Measured At Fair Value On Recurring Basis

The following table presents the Company’s financial assets that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017. Level 1 inputs are based on quoted prices in active markets accessible at the reporting date for identical assets and liabilities. Level 2 inputs are based on quoted prices for similar instruments in active markets and quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in a market. Level 3 inputs are based on prices or valuations that require inputs that are significant to the valuation and are unobservable.

	March 31, 2018								December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Other current assets
Foreign currency contracts(a)	$	—	$	—	$	—	$	—	$	—	$	36	$	—	$	36
Total assets measured and recorded at fair value	$	—	$	—	$	—	$	—	$	—	$	36	$	—	$	36
Liabilities:
Other accrued liabilities
Foreign currency contracts(a)	$	—	$	1,914	$	—	$	1,914	$	—	$	—	$	—	$	—
Total liabilities measured and recorded at fair value	$	—	$	1,914	$	—	$	1,914	$	—	$	—	$	—	$	—

(a) Based on observable market transactions of spot currency rates and forward currency rates on equivalently-termed instruments.

Information about Derivative Positions

A reconciliation of the net fair value of foreign currency contract assets and liabilities subject to master netting arrangements that are recorded in the March 31, 2018 and December 31, 2017 condensed consolidated balance sheets to the net fair value that could have been reported in the respective condensed consolidated balance sheets is as follows:

	March 31, 2018						December 31, 2017
(In thousands)	Gross amounts of recognized liabilities		Gross amounts offset in the condensed consolidated balance sheet		Net amount of liabilities in the condensed consolidated balance sheet		Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet
Foreign currency contracts	$	1,914	$	—	$	1,914	$	36	$	—	$	36

Gains and (losses) associated with derivatives

Losses associated with derivatives are recorded in other expense, net, in the condensed consolidated statements of operations. Losses associated with derivative instruments not designated as hedging instruments were as follows:

	Three months ended
(In thousands)	March 31, 2018			April 1, 2017
Losses on foreign currency contracts	$	(1,914	)	$	(2,297	)