FOREIGN CURRENCY DERIVATIVES (Tables)

3 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Derivative Contracts

The gross fair value of the Company's outstanding derivative contracts at the end of each period was as follows:

(in thousands)	March 31, 2016		June 30, 2016
Derivative Assets (recorded in 'Other current assets')
Non-designated hedges	$	33	$	915
Cash flow hedges	1,952		3,327
Total Derivative Assets	$	1,985	$	4,242
Derivative Liabilities (recorded in 'Accrued liabilities')
Non-designated hedges	$	1,163	$	374
Cash flow hedges	3,255		2,288
Total Derivative Liabilities	$	4,418	$	2,662

Notional Value of Outstanding Foreign Exchange Currency Contracts

The following table summarizes the notional value of the Company’s outstanding foreign exchange currency contracts and approximate U.S. Dollar ("USD") equivalent at June 30, 2016:

(in thousands)	Local Currency		USD Equivalent		Position	Maturity
EUR	€	26,900	$	30,000	Sell EUR	1 month
GBP	£	4,060	$	5,392	Sell GBP	1 month
AUD	A$	13,600	$	10,168	Sell AUD	1 month
CAD	C$	2,470	$	1,913	Sell CAD	1 month

Effect of Non-Designated Derivative Contracts Recognized in Interest and Other Income, Net

The effect of non-designated derivative contracts recognized in other non-operating income and (expense), net in the condensed consolidated statements of operations was as follows:

	Three Months Ended   June 30,
(in thousands)	2015			2016
Gain (loss) on foreign exchange contracts	$	(1,128	)	$	1,943

Notional Value of Outstanding Cross-Currency Swaps

The following table summarizes the notional value of the Company’s outstanding MXN cross-currency swaps and approximate USD Equivalent at June 30, 2016:

(in thousands)	Local Currency	USD Equivalent		Position	Maturity
MXN	491,940	$	27,763	Buy MXN	Monthly over	21 months

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the pre-tax effects of derivative instruments designated as cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended June 30, 2015 and 2016:

	Three Months Ended   June 30,
(in thousands)	2015			2016
Gain (loss) included in AOCI as of beginning of period	$	5,705		$	(1,106	)
Amount of gain (loss) recognized in other comprehensive income (“OCI”)  (effective portion)	(2,838		)	954
Amount of gain (loss) reclassified from OCI into net revenues (effective portion)	3,538			160
Amount of gain (loss) reclassified from OCI into cost of revenues (effective portion)	(773		)	(727		)
Total amount of gain (loss) reclassified from AOCI to income (loss) (effective portion)	2,765			(567		)
Gain included in AOCI as of end of period	$	102		$	415