Derivative Financial Instruments

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Interest Rate Risk

To manage interest rate risk, the Company enters into interest rate swap contracts to adjust the amount of total debt that is subject to variable interest rates.

As of September 30, 2015, the Company had interest rate swap contracts outstanding with notional amounts aggregating $269,188, which consists of interest rate swap contracts with notional amounts of $69,188 that are designated as cash flow hedges and interest rate swap contracts with notional amounts of $200,000 that are not designated as hedging instruments. The Company’s outstanding interest rate swap contracts have varying maturities ranging from October 2015 to July 2017. At September 30, 2015, the Company’s interest rate swap contracts designated as cash flow hedges were highly effective.

Foreign Currency Exchange Rate Risk

We are exposed to foreign currency risk to the extent that we enter into transactions denominated in currencies other than our or our subsidiaries' respective functional currencies (non-functional currency risk), such as affiliation agreements, programming contracts, certain accounts payable and trade receivables (including intercompany amounts) that are denominated in a currency other than the applicable functional currency.

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are as follows:

	Balance Sheet  Location	September 30, 2015		December 31, 2014
Derivatives designated as hedging instruments:
Liabilities:
Interest rate swap contracts	Accrued liabilities	$	17	$	2,388
Derivatives not designated as hedging instruments:
Assets:
Foreign currency derivatives	Prepaid expenses and other current assets	1,520		1,808
Foreign currency derivatives	Other assets	2,145		2,141
Liabilities:
Interest rate swap contracts	Accrued liabilities	924		—
Interest rate swap contracts	Other liabilities	2,418		4,225
Foreign currency derivatives	Accrued liabilities	1,292		914
Foreign currency derivatives	Other liabilities	1,561		1,432

The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments are as follows:

	Amount of Gain or (Loss) Recognized  in OCI on Derivatives  (Effective Portion)					Location of Gain or (Loss) Reclassified from Accumulated OCI into Earnings  (Effective Portion)	Amount of Gain or (Loss) Reclassified  from Accumulated OCI into  Earnings (Effective Portion)(a)
	Three Months Ended September 30,						Three Months Ended September 30,
	2015			2014			2015		2014
Derivatives in cash flow hedging relationships:
Interest rate swap contracts	$	(126	)	$	185	Interest expense	$	654	$	(1,386	)

(a) There were no gains or losses recognized in earnings related to any ineffective portion of hedging relationships or related to any amount excluded from the assessment of hedge effectiveness for the three months ended September 30, 2015 and 2014.

	Amount of Gain or (Loss) Recognized  in OCI on Derivatives  (Effective Portion)						Location of Gain or (Loss) Reclassified from Accumulated OCI into Earnings  (Effective Portion)	Amount of Gain or (Loss) Reclassified  from Accumulated OCI into  Earnings (Effective Portion)(a)
	Nine Months Ended September 30,							Nine Months Ended September 30,
	2015			2014				2015		2014
Derivatives in cash flow hedging relationships:
Interest rate swap contracts	$	(595	)	$	(451	)	Interest expense	$	2,493	$	3,979

(a) There were no gains or losses recognized in earnings related to any ineffective portion of hedging relationships or related to any amount excluded from the assessment of hedge effectiveness for the nine months ended September 30, 2015 and 2014.

The amount of the gains and losses related to the Company's derivative financial instruments not designated as hedging instruments are as follows:

	Location of Gain or (Loss) Recognized in Earnings on Derivatives	Amount of Gain or (Loss) Recognized in Earnings on Derivatives					Amount of Gain or (Loss) Recognized in Earnings on Derivatives
		Three Months Ended September 30,					Nine Months Ended September 30,
		2015			2014		2015			2014
Derivatives not designated as hedging relationships:
Interest rate swap contracts	Interest expense	$	(89	)	$	247	$	(584	)	$	(777	)
Foreign currency option contracts	Miscellaneous, net	—			—		—			(1,754		)
Foreign currency derivatives	Miscellaneous, net	1,501			683		—			415
Total		$	1,412		$	930	$	(584	)	$	(2,116	)