Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.19.3
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Cash flow hedging derivatives on the Balance Sheet
The table below presents the fair value of the derivative instruments as well as their classification in the Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018:
 
 
 
Fair Value at
 
Balance Sheet Location
 
September 30, 2019
 
December 31, 2018
 
 
 
(in thousands)
Derivatives designated as cash flow hedging instruments:
 
 
 
 
 
Assets:
 
 
 
 
 
Interest rate swaps
Other assets
 
$

 
$
923

Foreign exchange currency contracts
Other current assets
 
55

 

Total derivative assets
 
 
$
55

 
$
923

Liabilities:
 
 
 
 
 
Foreign exchange currency contracts
Other current liabilities
 
$
48

 
$

Interest rate swaps
Other long-term liabilities
 
2,684

 
413

Total derivative liabilities
 
 
$
2,732

 
$
413


Gain (loss) on Derivatives
The tables below present the amount of gains and losses related to the derivative instruments and their location in the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2019 and 2018, in thousands:
Derivatives Designated as Cash Flow Hedges
 
Gain (Loss) Recognized in OCI
 
 
 
Gain Recognized in Income
Three months ended September 30,
 
2019
2018
 
Location of Gain (Loss) Recognized in Income
 
2019
2018
Swap agreements, net of tax
 
$
(71
)
$
44

 
Interest expense and other
 
$
132

$
170

Foreign currency forward contracts, net of tax
 
(72
)

 
Cost of revenue and operating expenses
 
3



Derivatives Designated as Cash Flow Hedges
 
Gain (Loss) Recognized in OCI
 
 
 
Gain Recognized in Income
Nine months ended September 30,
 
2019
2018
 
Location of Gain (Loss) Recognized in Income
 
2019
2018
Swap agreements, net of tax
 
$
(1,737
)
$
410

 
Interest expense and other
 
$
565

$
413

Foreign currency forward contracts, net of tax
 
17


 
Cost of revenue and operating expenses
 
13