FOREIGN CURRENCY FORWARD CONTRACTS (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Balance sheet locations, fair values and net gains and losses of foreign currency forward contracts

The following table sets forth the balance sheet classification and fair values of the Company’s foreign currency contracts at March 31, 2014 and December 31, 2013 (in thousands):

Derivatives Not Designated as Hedging Instruments under Accounting Standard Codification (“ASC”) Topic 815	Balance Sheet Classification	Fair Value at March 31, 2014	Fair Value at December 31, 2013
Financial assets:
Foreign currency contracts	Other current assets	$11	$59
Financial liabilities:
Foreign currency contracts	Accrued expenses and other current liabilities	$228	$228

The following table sets forth the net foreign exchange losses recorded as marketing and selling expenses in the Company’s statements of operations during the three months ended March 31, 2014 and 2013 that resulted from the gains and losses on Company’s foreign currency contracts not designated as hedging instruments and the revaluation of the related hedged items (in thousands):

Derivatives Not Designated as Hedging Instruments under ASC Topic 815	Net (Loss) Gain Recorded in Marketing and Selling Expenses
	Three Months Ended March 31,
	2014	2013
Foreign currency contracts and revaluation of hedged items, net	$(908)	$266

See Note 4 for additional information on the fair value measurements for all financial assets and liabilities, including derivative assets and derivative liabilities, that are measured at fair value on a recurring basis.