DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Carrying Amount of Derivative Instruments

The fair value carrying amounts of the Company’s derivative instruments were as follows:

	Asset Derivatives			Liability Derivatives
	December 31, 2016			December 31, 2016
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Forward foreign currency exchange contracts	Other current assets	$	13,048	Accounts payable & accrued liabilities	$	5,176
Forward foreign currency exchange contracts	Other assets		8,194	Other long- term liabilities		2,342
Total		$	21,242		$	7,518
Derivatives not designated as hedging instruments:
Forward foreign currency exchange contracts	Other current assets	$	964	Accounts payable & accrued liabilities	$	25
Total			964			25
Total value of derivative contracts		$	22,206		$	7,543

	Asset Derivatives			Liability Derivatives
	December 31, 2015			December 31, 2015
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Forward foreign currency exchange contracts	Other current assets	$	10,478	Accounts payable & accrued liabilities	$	1,986
Forward foreign currency exchange contracts	Other assets		3,533	Other long- term liabilities		3,057
Total		$	14,011		$	5,043
Derivatives not designated as hedging instruments:
Forward foreign currency exchange contracts	Other current assets	$	—	Accounts payable & accrued liabilities	$	22
Total			—			22
Total value of derivative contracts		$	14,011		$	5,065

Effect of Derivative Instruments

The effect of the Company’s derivative instruments on the Consolidated Financial Statements for the years ended December 31, 2016, 2015 and 2014 was as follows:

	Years Ended December 31,
	2016			2015			2014
Derivatives Designated as Hedging Instruments:
Net gain recognized in Other Comprehensive Income (OCI) ⁽¹⁾	$	9,677		$	17,300		$	18,078
Net gain reclassified from accumulated OCI into earnings⁽²⁾		6,529			19,604			643
Net gain (loss) recognized in net loss ⁽³⁾		5,070			(727	)		(294	)
Derivatives Not Designated as Hedging Instruments:
Net gain (loss) recognized in net loss⁽⁴⁾	$	(8,687	)	$	4,493		$	8,010

(1)	Net change in the fair value of the effective portion classified as OCI.

(2)	Effective portion classified as Net Product Revenues and SG&A expense.

(3)	Ineffective portion and amount excluded from effectiveness testing classified as SG&A expense.

(4)	Classified as SG&A expense.

Derivatives Designated As Hedging Instruments

Derivative [Line Items]

Summary of Designated Forward Foreign Currency Exchange Contracts Outstanding

The following table summarizes the Company’s designated forward foreign currency exchange contracts outstanding as of December 31, 2016 (notional amounts in millions):

			Aggregate Notional
			Amount in
Foreign Exchange Contracts	Number of Contracts		Foreign Currency		Maturity
Euros - Purchase		82		104.2	Jan. 2017 - Dec. 2019
Euros - Sell		311		340.2	Jan. 2017 - Dec. 2019
Canadian Dollars - Sell		24		23.3	Jan. 2017 - Dec. 2017
Colombian Pesos - Sell		12		62,304.0	Jan. 2017 - Dec. 2017
Brazilian Reais - Sell		3		64.5	May 2017
Total		432

Not Designated as Hedging Instrument

Derivative [Line Items]

Summary of Designated Forward Foreign Currency Exchange Contracts Outstanding

The following table summarizes the Company’s non-designated forward foreign currency exchange contracts outstanding as of December 31, 2016 (notional amounts in millions):

			Aggregate Notional
			Amount in
Foreign Exchange Contracts	Number of Contracts		Foreign Currency		Maturity
Euros - Purchase		1		94.9	January 2017
British Pounds - Sell		1		2.7	January 2017
Total		2