Derivatives and Hedging

6 Months Ended

Jun. 30, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

Note 10: Derivatives and Hedging

The Company invoices certain customers in foreign currencies. In order to mitigate the risks associated with fluctuations in exchange rates with the US Dollar, the Company entered into foreign exchange forward contracts during 2018 and 2017 for a portion of these sales and has designated these contracts as cash flow hedges. The notional value of these contracts at June 30, 2018 and December 31, 2017 was $2.3 million and $4.5 million, respectively. An accumulated unrealized gain of $0.1 million was recorded in other comprehensive income at June 30, 2018 and an accumulated unrealized loss of $0.1 million was recorded in other comprehensive income at December 31, 2017.