Foreign Currency Derivatives (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments Measured at Gross Fair Value as Reflected in Condensed Consolidated Balance Sheets

The following table shows the Company’s derivative instruments measured at gross fair value as reflected in the condensed consolidated balance sheets (in thousands):

	Fair Value of Derivatives Designated as Hedge Instruments				Fair Value of Derivatives Not Designated as Hedge Instruments
	March 31, 2016		December 31, 2015		March 31, 2016		December 31, 2015
Derivative assets (a):
Foreign exchange contracts	$	2,548	$	2,283	$	2,187	$	5,501
Derivative liabilities (b):
Foreign exchange contracts	$	4,299	$	2,269	$	4,578	$	4,401

(a) All derivative assets are recorded in “Prepaid and other current assets” in the condensed consolidated balance sheets.

(b) All derivative liabilities are recorded in “Other accrued liabilities” in the condensed consolidated balance sheets.

Offsetting of Derivative Assets

The following table sets forth the offsetting of derivative assets (in thousands):

							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
As of March 31, 2016:
Foreign exchange contracts	$	4,735	$	—	$	4,735	$	(4,735	)	$	—	$	—
As of December 31, 2015:
Foreign exchange contracts	$	10,396	$	—	$	10,396	$	(5,413	)	$	—	$	4,983

Offsetting of Derivative Liabilities

The following table sets forth the offsetting of derivative liabilities (in thousands):

							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Cash Collateral Pledged		Net Amount
As of March 31, 2016:
Foreign exchange contracts	$	8,877	$	—	$	8,877	$	(4,735	)	$	—	$	4,142
As of December 31, 2015:
Foreign exchange contracts	$	6,031	$	—	$	6,031	$	(5,413	)	$	—	$	618

Cash Flow Hedging

Schedule of Notional Amount of Foreign Currency

The following table summarizes the Company’s notional position by currency, and approximate U.S. dollar equivalent of the outstanding cash flow hedges at March 31, 2016 (in thousands):

	Original Maturities of 360 Days or Less					Original Maturities of Greater than 360 Days
	Foreign Currency		USD Equivalent		Positions	Foreign Currency		USD Equivalent		Positions
Chinese Yuan		—	$	—	—		121,716	$	18,469	Buy
Euro		—	$	—	—		27,397	$	30,691	Buy
Euro		—	$	—	—		84,143	$	94,174	Sell
British Pound		—	$	—	—		24,299	$	35,845	Buy
British Pound		—	$	—	—		26,506	$	39,390	Sell
Israeli Shekel		12,960	$	3,366	Buy	—		$	—	—

Effect of Derivative Instruments in Condensed Consolidated Statements of Operations

The following tables show the effect of the Company’s derivative instruments designated as cash flow hedges in the condensed consolidated statements of operations for the following periods (in thousands):

	Gain or (Loss) Recognized in OCI- Effective Portion			Location of Gain or (Loss) Reclassified from OCI into Income-Effective Portion	Gain or (Loss) Reclassified from OCI into Income-Effective Portion			Location of Gain or (Loss) Recognized-Ineffective Portion and Amount Excluded from Effectiveness Testing	Gain or (Loss) Recognized-Ineffective Portion and Amount Excluded from Effectiveness Testing (a)
	Three Months Ended March 31, 2016
Foreign exchange    contracts	$	(1,627	)	Product revenues	$	1,298		Interest and other income    (expense), net	$	(9	)
				Cost of revenues		(297	)
				Sales and marketing		(833	)
				Research and development		(47	)
				General and administrative		(180	)
	$	(1,627	)		$	(59	)		$	(9	)
	Three Months Ended March 31, 2015
Foreign  exchange    contracts	$	6,298		Product revenues	$	6,636		Interest and other income    (expense), net	$	(31	)
				Cost of revenues		(801	)
				Sales and marketing		(1,787	)
				Research and development		(715	)
				General and administrative		(775	)
	$	6,298			$	2,558			$	(31	)

(a) There were no gains or losses recognized in income due to ineffectiveness in the periods presented.

Not Designated as Hedging Instrument

Schedule of Notional Amount of Foreign Currency

The following table summarizes the Company’s notional position by currency, and approximate U.S. dollar equivalent of the outstanding non-designated hedges at March 31, 2016 (in thousands):

	Original Maturities of 360 Days or Less					Original Maturities of Greater than 360 Days
	Foreign Currency		USD Equivalent		Positions	Foreign Currency		USD Equivalent		Positions
Brazilian Real		14,046	$	3,947	Buy		—	$	—	—
Brazilian Real		26,676	$	7,025	Sell		—	$	—	—
Chinese Yuan		—	$	—	—		56,384	$	8,763	Buy
Chinese Yuan		53,555	$	8,118	Sell		—	$	—	—
Euro		28,688	$	32,690	Buy		14,303	$	15,936	Buy
Euro		42,475	$	47,793	Sell		52,357	$	58,468	Sell
British Pound		9,927	$	14,247	Buy		14,801	$	22,629	Buy
British Pound		15,561	$	22,105	Sell		17,194	$	26,021	Sell
Israeli Shekel		11,940	$	3,101	Buy		31,600	$	8,047	Buy
Israeli Shekel		42,167	$	10,977	Sell		—	$	—	—
Mexican Peso		22,737	$	1,325	Buy		—	$	—	—
Mexican Peso		45,430	$	2,569	Sell		—	$	—	—

Effect of Derivative Instruments in Condensed Consolidated Statements of Operations

The following table shows the effect of the Company’s non-designated hedges in the condensed consolidated statements of operations (in thousands):

Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
		Three Months Ended
		March 31, 2016			March 31, 2015
Foreign exchange contracts	Interest and other income (expense), net	$	(2,147	)	$	4,673