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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2016
Commitments And Contingencies Disclosure [Abstract]  
Summary of Future Minimum Commitments Under Operating Leases

Future minimum commitments for the Company’s operating leases in place as of December 31, 2016 are as follows:

 

Years Ending December 31,

 

Amount

 

 

 

(in thousands)

 

2017

 

$

27,869

 

2018

 

 

27,429

 

2019

 

 

22,559

 

2020

 

 

19,237

 

2021

 

 

17,413

 

Thereafter

 

 

131,815

 

Total

 

$

246,322

 

 

Summary of Fair Values of Derivative Instruments

The following table presents the fair values of the Company’s derivative instruments and the location in which they are presented on the Company’s Consolidated Statements of Financial Condition:

 

 

 

 

 

As of

 

 

 

Consolidated Statements of

 

December 31,

 

 

December 31,

 

(in thousands)

 

Financial Condition Location

 

2016

 

 

2015

 

Non-designated hedging instruments:

 

 

 

 

 

 

 

 

 

 

Asset derivatives:

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Prepaid and other assets

 

$

27

 

 

$

640

 

Liability derivatives:

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Other accrued liabilities

 

$

(124

)

 

$

(2

)

 

Effect of Financial Derivatives on Statements of Income

The following tables present the effect of the Company’s financial derivatives and the location in which they are presented on the Company’s Consolidated Statements of Financial Condition and Consolidated Statements of Income:

 

 

 

 

 

Amount of Gain or (Loss) Recognized

 

 

 

 

 

in Income on Derivatives for the

 

Derivatives Not Designated as

 

Location of Gain or

 

Years Ended

 

Hedging Instruments

 

(Loss) Recognized

 

December 31,

 

 

December 31,

 

 

December 31,

 

(in thousands)

 

in Income on Derivatives

 

2016

 

 

2015

 

 

2014

 

Foreign exchange contracts

 

Other expense (income)

 

$

1,566

 

 

$

366

 

 

$

(834

)