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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional values of entity's foreign currency forward contracts mature within 12 months
As of June 30, 2014 and December 31, 2013, the total notional values of the Company’s derivative assets and liabilities were as follows (in thousands):

 
June 30,
2014
 
December 31,
2013
Euro
$
14,714

 
$
21,990

Japanese Yen
3,630

 
4,588

British Pound
3,925

 
5,653

Interest rate swap
10,307

 
10,307

Total
$
32,576

 
$
42,538
Entity's foreign currency derivatives measured at fair value
The following table shows the Company’s foreign currency derivative measures at fair value as reflected on the accompanying Condensed Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013 (in thousands):

 
June 30,
2014
 
December 31,
2013
 
Balance Sheet
Classification
Derivative assets:
 
 
 
 
 
Foreign exchange contracts
$
7

 
$
185

 
Prepaid expenses and other current assets
Derivative liabilities:
 
 
 
 
 
Foreign exchange contracts
296

 
927

 
Accounts payable and accrued liabilities
Interest rate swap
22

 
11

 
Other long-term liabilities
Effect of entity's derivative instruments, net of tax, on Condensed Statements of Operations
The following table shows the effect, net of tax, of the Company’s derivative instruments on the accompanying Condensed Consolidated Statements of Operations and OCI for the three and six months ended June 30, 2014 and 2013 (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Derivatives in cash flow hedging relationships:
 
 
 
 
 
 
 
Net (loss) gain recognized in OCI, net of tax (1)
$
(181
)
 
$
(361
)
 
$
(478
)
 
$
725

Net (loss) gain reclassified from accumulated OCI into Revenue, net of tax (2)
(314
)
 
254

 
(758
)
 
1,081

Net (loss) gain reclassified from accumulated OCI into Interest income and other, net, net of tax (3)
(7
)
 
—

 
(17
)
 
158

Net gain recognized in Interest income and other, net, net of tax (4)
19

 
30

 
1

 
45

Derivatives not designated as hedging relationships:
 
 
 
 
 
 
 
Net gain recognized in Interest income and other, net, net of tax (5)
11

 
4

 
12

 
147


(1)
Net change in the fair value of the effective portion classified in OCI
(2)
Effective portion classified as Revenue
(3)
Ineffective portion classified as Interest income and other, net
(4)
Amount excluded from effectiveness testing classified as Interest income and other, net
(5)
Classified in Interest income and other, net