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FOREIGN CURRENCY FORWARD CONTRACTS (Tables)
 3 Months Ended
Mar. 31, 2015
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 (in thousands):
Derivatives Not Designated as Hedging Instruments under Accounting Standard Codification (“ASC”) Topic 815
 
Balance Sheet Classification
 
Fair Value at March 31, 2015
 
Fair Value at December 31, 2014
Financial liabilities:
 
 
 
 
 
 
Foreign currency contracts
 
Accrued expenses and other current liabilities
 
$—
 
$518

The following table sets forth the net foreign exchange gains (losses) recorded as marketing and selling expenses in the Company’s statements of operations during the three months ended March 31, 2015 and 2014 that resulted from foreign currency forward contracts, foreign currency denominated transactions, and the revaluation of foreign currency denominated assets and liabilities (in thousands):
 
 
Three Months Ended March 31,
 
2015
 
2014
Net foreign exchange gain (loss) recorded in marketing and selling expenses
 
$1,306
 
$(908)

See Note 4, Fair Value Measurements, 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.