Derivative Instruments (Tables)
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12 Months Ended |
Dec. 31, 2018 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Schedule of Notional Amounts of Outstanding Derivative Positions |
The Company had the following outstanding forward contracts (in thousands): | | | | | | | | | | | | | | December 31, 2018 | | December 31, 2017 | Currency | Notional Value |
| USD Equivalent |
| | Notional Value |
| USD Equivalent |
| | | | | | | Derivatives Not Designated as Hedging Instruments: | Euro | 23,000 |
| $ | 26,330 |
| | — |
| $ | — |
| Japanese Yen | 380,000 |
| 3,459 |
| | 455,000 |
| 4,049 |
| British Pound | 2,500 |
| 3,204 |
| | 1,650 |
| 2,232 |
| Korean Won | 3,125,000 |
| 2,808 |
| | 1,825,000 |
| 1,708 |
| Hungarian Forint | 750,000 |
| 2,685 |
| | 545,000 |
| 2,110 |
| Taiwanese Dollar | 55,000 |
| 1,807 |
| | 37,725 |
| 1,278 |
| Canadian Dollar | 990 |
| 726 |
| | — |
| — |
| Singapore Dollar | 700 |
| 514 |
| | — |
| — |
| Swiss Franc | — |
| — |
| | 1,365 |
| 1,401 |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
Information regarding the fair value of the outstanding forward contracts was as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | Balance Sheet Location | | Fair Value | | Balance Sheet Location | | Fair Value | | | December 31, 2018 | | December 31, 2017 | | | December 31, 2018 | | December 31, 2017 | Derivatives Not Designated as Hedging Instruments: | Economic hedge forward contracts | Prepaid expenses and other current assets | | $ | 1 |
| | $ | 16 |
| | Accrued expenses | | $ | 106 |
| | $ | 13 |
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Offsetting Assets |
The following table summarizes the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands): | | | | | | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | | December 31, 2018 | | December 31, 2017 | | | | December 31, 2018 | | December 31, 2017 | Gross amounts of recognized assets | | $ | 1 |
| | $ | 16 |
| | Gross amounts of recognized liabilities | | $ | 106 |
| | $ | 13 |
| Gross amounts offset | | — |
| | — |
| | Gross amounts offset | | — |
| | — |
| Net amount of assets presented | | $ | 1 |
| | $ | 16 |
| | Net amount of liabilities presented | | $ | 106 |
| | $ | 13 |
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Derivative Instruments, Gain (Loss) |
Information regarding the effect of derivative instruments, net of the underlying exposure, on the consolidated financial statements was as follows (in thousands): | | | | | | | | | | | | | | | | Location in Financial Statements | | Year Ended December 31, | 2018 | | 2017 | | 2016 | Derivatives Designated as Hedging Instruments: | Gains (losses) recorded in shareholders' equity (effective portion) | Accumulated other comprehensive income (loss), net of tax | | $ | — |
| | $ | — |
| | $ | 37 |
| Gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations (effective portion) | Revenue | | $ | — |
| | $ | 30 |
| | $ | (438 | ) | | Research, development, and engineering expenses | | — |
| | 3 |
| | 13 |
| | Selling, general, and administrative expenses | | — |
| | 8 |
| | 27 |
| | Total gains (losses) reclassified from accumulated other comprehensive income (loss) into current operations | | $ | — |
| | $ | 41 |
| | $ | (398 | ) | | | | | | | | | Derivatives Not Designated as Hedging Instruments: | Gains (losses) recognized in current operations | Foreign currency gain (loss) |
| $ | (285 | ) | | $ | 270 |
| | $ | (515 | ) |
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Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) |
The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax, related to derivative instruments (in thousands): | | | | | Balance as of December 31, 2016 | $ | 37 |
| Net unrealized gain (loss) on cash flow hedges | 4 |
| Reclassification of net realized (gain) loss on cash flow hedges into current operations | (41 | ) | Balance as of December 31, 2017 | — |
| Balance as of December 31, 2018 | $ | — |
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