Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value of Gross Position of Derivative Contracts in Consolidated Balance Sheets

The following table presents the location and amounts of derivative instrument fair values in the Condensed Consolidated Balance Sheets:


Assets/(liabilities)	March 31, 2016			December 31, 2015

Designated as hedging instruments:
Gross amounts recognized	$	(2,511	)	$	3,559
Gross amounts offset		455			(35	)

Net amounts	$	(2,056	)	$	3,524

Not designated as hedging instruments:
Gross amounts recognized		(543	)		174


Other current (liabilities) assets	$	(2,599	)	$	3,698

Gains and Losses on Derivative Instruments in Condensed Consolidated Statement of Operations

The following table presents the location and amount of gains and losses on derivative instruments in the Condensed Consolidated Statements of Income:


	Three Months Ended March 31,
Derivatives Designated as Cash Flow Hedges	2016			2015

Amount of (Loss) Gain Recognized in Other Comprehensive Income on Derivatives (Effective Portion)	$	(4,044	)	$	8,746

Amount of Gain Reclassified from Cumulative Other Comprehensive Loss into Income (Effective Portion)		1,412			4,326

Amount of Gain Recognized in Income on Derivatives (Ineffective Portion)		—			208


	Location of (Loss) Gain Recognized in Income on Derivatives	Amount of (Loss) Gain Recognized in Income on Derivatives Three Months Ended March 31,
Derivatives not Designated as Hedging Instruments	Location of (Loss) Gain Recognized in Income on Derivatives	2016			2015
Foreign exchange contracts	Other non-operating income	$	(900	)	$	232

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis:


	March 31, 2016
	Total Derivative Assets (Liabilities)			Quoted Prices in Active Markets for Identical Assets Level (1)			Significant Other Observable Inputs Level (2)			Significant Unobservable Inputs Level (3)

Foreign Exchange Contracts	$	(2,599	)	$	—		$	(2,599	)	$	—

Stock-based Liabilities	$	(18,037	)	$	(18,037	)	$	—		$	—

	December 31, 2015
	Total Derivative Assets			Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs			Significant Unobservable Inputs
	(Liabilities)			Level (1)			Level (2)			Level (3)

Foreign Exchange Contracts	$	3,698		$	—		$	3,698		$	—

Stock-based Liabilities	$	(18,057	)	$	(18,057	)	$	—		$	—

Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts and fair values of the Company’s financial instruments are as follows:


	March 31, 2016
				Fair Value Measurements Using
	Carrying			Quoted Prices in Active Markets for Identical Instruments			Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount			Level (1)			Level (2)		Level (3)
Cash and cash equivalents	$	433,996		$	433,996		$	—	$	—
Notes receivable		5,620			5,620			—		—
Restricted cash		820			820			—		—
Notes payable		(7,737	)		(7,737	)		—		—
Current portion of long-term debt		(600	)		(600	)		—		—
Long-term debt		(295,837	)		(326,410	)		—		—

	December 31, 2015
				Fair Value Measurements Using
	Carrying			Quoted Prices in Active Markets for Identical Instruments			Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount			Level (1)			Level (2)		Level (3)
Cash and cash equivalents	$	505,157		$	505,157		$	—	$	—
Notes receivable		8,750			8,750			—		—
Restricted cash		802			802			—		—
Notes payable		(12,437	)		(12,437	)		—		—
Current portion of long-term debt		(600	)		(600	)		—		—
Long-term debt		(296,412	)		(323,522	)		—		—