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DERIVATIVES AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 2014
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Fair Value of Outstanding Derivative Instruments

The fair value of the Company’s outstanding derivative instruments is as follows:

 

     As at
June 30,
2014
     As at
December 31,
2013
 
     (Unaudited)      (Audited)  

Derivative assets:

     

Derivatives designated as cash flow hedging instruments:

     

Foreign exchange option contracts

   $ 17       $ —     

Foreign exchange forward contracts

     3         —     
  

 

 

    

 

 

 

Total

   $ 20       $ —     
  

 

 

    

 

 

 

Derivative liabilities:

     

Derivatives designated as cash flow hedging instruments:

     

Foreign exchange forward contracts

   $ —         $ 16   
  

 

 

    

 

 

Increase in Unrealized Gains Recognized in "Accumulated Other Comprehensive Income ( Loss)" on Derivatives, Before Tax Effect

The increase in unrealized gains recognized in “accumulated other comprehensive income (loss)” on derivatives, before tax effect, is as follows:

 

     Six months ended
June 30,
     Three months ended
June 30,
 
     2014      2013      2014      2013  
     (unaudited)      (unaudited)      (unaudited)      (unaudited)  

Derivatives designated as cash flow hedging instruments:

           

Foreign exchange option contracts

   $ 28       $ 93       $ 17       $ 25   

Foreign exchange forward contracts

     32         125         15         87   
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 60       $ 218       $ 32       $ 112   
  

 

 

    

 

 

    

 

 

    

 

 

Net Gains Reclassified from "Accumulated Other Comprehensive Income (Loss)"

The net gains reclassified from “accumulated other comprehensive income (loss)” into income, are as follows:

 

     Six months ended
June 30,
    Three months ended
June 30,
 
     2014
(unaudited)
    2013
(unaudited)
    2014
(unaudited)
    2013
(unaudited)
 

Derivatives designated as cash flow hedging instruments:

        

Foreign exchange option contracts

   $ (11   $ (158   $ (11   $ (98

Foreign exchange forward contracts

     (13     (130     (12     (90
  

 

 

   

 

 

   

 

 

   

 

 

 
   $ (24   $ (288   $ (23   $ (188