DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value of Outstanding Derivative Instruments

The fair value of the outstanding derivative instruments at March 31, 2013 and December 31, 2012 is summarized below:

		Fair Value of Derivative Instruments
	Balance Sheet Location	As of March 31, 2013		As of December 31, 2012
Derivative Assets
Foreign exchange forward contracts and put options	Other accounts receivable and prepaid expenses (*)		518		484
Total		$	518	$	484

(*) Estimated to be reclassified into earnings during 2013.

Effect of Derivative Instruments in Cash Flow Hedging Transactions on Income and Other Comprehensive Income

The effect of derivative instruments in cash flow hedging transactions on income and other comprehensive income (“OCI”) for the three months ended March 31, 2013 and 2012 is summarized below:

	Gains on Derivatives Recognized in OCI
	for the three months ended March 31,
	2013		2012
Foreign exchange forward and put options contracts	$	176	$	523

	Gains (losses) on Derivatives Reclassified from OCI into Income
		for the three months ended March 31,
	Location	2013		2012
Foreign exchange forward and put options contracts	Operating expenses	$	141	$	(39	)