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Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Forward Contracts Table
The Company had the following outstanding forward contracts (in thousands):
 
June 30, 2019
 
December 31, 2018
Currency
Notional
Value
 
USD
Equivalent
 
Notional
Value
 
USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
Euro
19,000

 
$
21,681

 
23,000

 
$
26,330

Japanese Yen
400,000

 
3,717

 
380,000

 
3,459

Hungarian Forint
900,000

 
3,178

 
750,000

 
2,685

Korean Won
3,550,000

 
3,072

 
3,125,000

 
2,808

British Pound
2,400

 
3,055

 
2,500

 
3,204

Taiwanese Dollar
50,000

 
1,617

 
55,000

 
1,807

Canadian Dollar
1,100

 
841

 
990

 
726

Singapore Dollar

 

 
700

 
514


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
 
Fair Value
 
Balance
 
Fair Value
 
Sheet
Location
 
June 30, 2019
 
December 31, 2018
 
Sheet
Location
 
June 30, 2019
 
December 31, 2018
Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
Economic hedge forward contracts
Prepaid expenses and other current assets
 
$
20

 
$
1

 
Accrued expenses
 
$
13

 
$
106


Offsetting Assets
The following table presents 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
 
 
June 30, 2019
 
December 31, 2018
 
 
 
June 30, 2019
 
December 31, 2018
Gross amounts of recognized assets
 
$
20

 
$
1

 
Gross amounts of recognized liabilities
 
$
13

 
$
106

Gross amounts offset
 

 

 
Gross amounts offset
 

 

Net amount of assets presented
 
$
20

 
$
1

 
Net amount of liabilities presented
 
$
13

 
$
106


Derivative Instruments, Gain (Loss)
Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands):
 
Location in Financial Statements
 
Three-months Ended
 
Six-months Ended
 
 
June 30, 2019
 
July 1, 2018
 
June 30, 2019
 
July 1, 2018
Derivatives Not Designated as Hedging Instruments:
 
 
 
Gains (losses) recognized in current operations
Foreign currency gain (loss)
 
$
(439
)
 
$
(354
)
 
$
66

 
$
(665
)