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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2017
DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]  
Gains (Losses) Related to Derivative Instruments Not Designated as Hedging Instruments
The following table summarizes gains (losses) related to derivative instruments not designated as hedging instruments during the three- and six-month periods ended June 30, 2017 and 2016 (U.S. dollars in thousands):

Derivatives not
designated as
hedging instruments:
 
Location of
Gain (Loss)
Recognized
in Income
 
Amount of Gain (Loss) Recognized in Income
 
 
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
 
2017
  
2016
  
2017
  
2016
 
               
Foreign currency contracts
 
Other income (expense)
 
$
--
  
$
(474
)
 
$
(485
)
 
$
(478
)
Gains (Losses) Related to Derivative Instruments Designated as Cash Flow Hedges
The following table summarizes gains (losses) related to derivative instruments recorded in other comprehensive income (loss) during the three-month periods ended June 30, 2017 and 2016 (U.S. dollars in thousands):

Derivatives
designated as
hedging instruments:
 
Amount of Gain (Loss)
Recognized in Other Comprehensive Loss
 
 
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
 
2017
  
2016
  
2017
  
2016
 
             
Foreign currency forward contracts          related to intercompany license fee, product sales, and selling expense hedges
 
$
207
  
$
(1,170
)
 
$
(180
)
 
$
(2,860
)
 
The following table summarizes gains (losses) relating to derivative instruments reclassified from accumulated other comprehensive loss into income during the three- and six-month periods ended June 30, 2017 and 2016 (U.S. dollars in thousands):

Derivatives designated as
hedging instruments:
   
Location of
Gain (Loss)
Reclassified from
Accumulated
Other
Comprehensive
Loss into Income
 
Amount of Gain (Loss) Reclassified from
Accumulated Other Comprehensive Loss into Income
 
 
Three Months Ended
June 30,
  
Six Months Ended
June 30,
 
 
2017
  
2016
  
2017
  
2016
 
               
Foreign currency forward contracts related to intercompany license fees and product sales hedges
 
Revenue
 
$
134
  
$
(401
)
 
$
109
  
$
(479
)
Foreign currency forward contracts related to intercompany selling expense hedges
 
Selling expenses
 
$
269
  
$
(525
)
 
$
228
  
$
(632
)