XML 62 R43.htm IDEA: XBRL DOCUMENT v3.7.0.1
Derivatives (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
Outstanding foreign currency forward exchange contracts qualifying and designated for hedge accounting treatment were as follows (in thousands USD):
 
June 30, 2017
 
December 31, 2016
 
Notional
Amount
 
Unrealized
Net Gain
(Loss)
 
Notional
Amount
 
Unrealized
Net Gain
(Loss)
USD / AUD
$
2,871

 
$
(34
)
 
$
5,841

 
$
316

USD / CAD
1,002

 
26

 
2,604

 
(18
)
USD / CNY
1,940

 
(12
)
 
11,252

 
(301
)
USD / CHF
180

 
1

 
370

 
15

USD / EUR
38,793

 
(933
)
 
60,387

 
1,826

USD / GBP
2,114

 
(91
)
 
3,253

 
(75
)
USD / NZD
6,140

 
179

 
9,650

 
(64
)
USD / SEK
1,889

 
(36
)
 
4,923

 
146

USD / MXP
3,047

 
260

 
6,148

 
(417
)
EUR / AUD
271

 
4

 
506

 
6

EUR / GBP
15,986

 
(14
)
 
14,511

 
(686
)
EUR / NOK
1,558

 
50

 
2,503

 
(25
)
EUR / NZD
1,914

 
(16
)
 
3,777

 
16

GBP / AUD
269

 
13

 
503

 
34

GBP / CHF
264

 
(2
)
 
215

 
(10
)
GBP / SEK
1,726

 
(5
)
 
1,389

 
(42
)
CHF / DKK
327

 
3

 
595

 
(2
)
DKK / SEK
2,318

 
25

 
31,978

 
49

NOK / CHF
716

 
13

 
1,335

 
(13
)
NOK / SEK
1,418

 
69

 
2,618

 
21

 
$
84,743

 
$
(500
)
 
$
164,358

 
$
776
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
Foreign currency forward exchange contracts not qualifying or designated for hedge accounting treatment, as well as ineffective hedges, entered into in 2017 and 2016, respectively, and outstanding were as follows (in thousands USD):
 
June 30, 2017
 
December 31, 2016
 
Notional
Amount
 
Gain
(Loss)
 
Notional
Amount
 
Gain
(Loss)
AUD / USD
$
10,100

 
$
(206
)
 
$
5,800

 
$
204

CNY / USD
8,822

 
334

 
5,556

 
(24
)
AUD / NZD
5,000

 
(11
)
 
3,264

 
15

 
$
23,922

 
$
117

 
$
14,620

 
$
195
Schedule of Derivatives Instruments Statements of Financial Position, Fair Value
The fair values of the company’s derivative instruments were as follows (in thousands):
 
June 30, 2017
 
December 31, 2016
 
Assets
 
Liabilities
 
Assets
 
Liabilities
Derivatives designated as hedging instruments under ASC 815
 
 
 
 
 
 
 
Foreign currency forward exchange contracts
$
770

 
$
1,270

 
$
2,535

 
$
1,759

Derivatives not designated as hedging instruments under ASC 815
 
 
 
 
 
 
 
Foreign currency forward exchange contracts
343

 
226

 
219

 
24

Total derivatives
$
1,113

 
$
1,496

 
$
2,754

 
$
1,783
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The effect of derivative instruments on Accumulated Other Comprehensive Income (OCI) and the Statement of Comprehensive Income (Loss) and was as follows (in thousands):
Derivatives in ASC 815 cash flow hedge
relationships
Amount of Gain
(Loss) Recognized  in Accumulated OCI on Derivatives
(Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated  OCI into
Income (Effective
Portion)
 
Amount of Gain (Loss)
Recognized in Income on
Derivatives (Ineffective  Portion and Amount Excluded from
Effectiveness Testing)
Three months ended June 30, 2017
 
 
 
 
 
Foreign currency forward exchange contracts
$
(1,335
)
 
$
301

 
$
7

Six months ended June 30, 2017
 
 
 
 
 
Foreign currency forward exchange contracts
$
(571
)
 
$
600

 
$
7

Three months ended June 30 2016
 
 
 
 
 
Foreign currency forward exchange contracts
$
(2,059
)
 
$
208

 
$
42

Six months ended June 30, 2016
 
 
 
 
 
Foreign currency forward exchange contracts
$
(931
)
 
$
374

 
$
42

 
 
 
 
 
 
Derivatives not designated as hedging
instruments under ASC 815
 
 
 
 
Amount of Gain (Loss)
Recognized in Income on Derivatives
Three months ended June 30, 2017
 
 
 
 
 
Foreign currency forward exchange contracts
 
$
52

Six months ended June 30, 2017
 
 
 
 
 
Foreign currency forward exchange contracts
 
$
117

Three months ended June 30, 2016
 
 
 
 
 
Foreign currency forward exchange contracts
 
$
(94
)
Six months ended June 30, 2016
 
 
 
 
 
Foreign currency forward exchange contracts
 
$
(377
)
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The fair values of the outstanding convertible note derivatives as of June 30, 2017 and their effect on the Statement of Comprehensive Income (Loss) were as follows (in thousands):
 
 
 
Gain (Loss)
 
Gain (Loss)
 
Fair Value
 
Three Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 30, 2017
 
June 30, 2016
 
June 30, 2017
 
June 30, 2016
Convertible 2021 debt conversion long-term liability
$
(32,227
)
 
$
(8,250
)
 
$
6,565

 
$
(1,519
)
 
$
5,847

Convertible 2022 debt conversion long-term liability
(33,251
)
 
(4,392
)
 
—

 
(4,392
)
 
—

Convertible 2021 note hedge long-term asset
27,430

 
7,789

 
(6,079
)
 
1,959

 
(4,757
)
Convertible 2022 note hedge long-term asset
28,582

 
3,802

 
—

 
3,802

 
—

Net gain (loss) on convertible debt derivatives
$
(9,466
)
 
$
(1,051
)
 
$
486

 
$
(150
)
 
$
1,090