Derivatives and Hedging

9 Months Ended

Sep. 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 September 30, 2018 and December 31, 2017 was $1.1 million and $4.5 million, respectively. An accumulated unrealized gain of less than $0.1 million was recorded in other comprehensive income for the nine months ended September 30, 2018 and an accumulated unrealized loss of $0.1 million was recorded in other comprehensive income for the 12 months ended December 31, 2017.