Derivatives and Hedge Accounting (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Foreign Currency Exchange Contracts

The following tables set forth the fair value of the foreign currency exchange contracts and their location on the unaudited consolidated financial statements:

Derivatives designated as hedging instruments:

	As of
	March 31, 2017		December 31, 2016
Other current assets:
Foreign currency exchange contracts	$	7,306	$	3,211
Other assets:
Foreign currency exchange contracts	$	6,804	$	2,994
Accrued expenses and other current liabilities:
Foreign currency exchange contracts	$	1,368	$	1,430
Non-current liabilities:
Foreign currency exchange contracts	$	696	$	828

Derivatives not designated as hedging instruments:

	As of
	March 31, 2017		December 31, 2016
Other current assets:
Foreign currency exchange contracts	$	57	$	113

Summary of Effect of Foreign Currency Exchange Contracts on Consolidated Statements of Income

The following tables set forth the effect of foreign currency exchange contracts on the unaudited consolidated statements of income for the three months ended March 31, 2017 and 2016:

	Three months ended March 31,
	2017		2016
Derivatives in Cash flow hedging relationship
Gain/(loss) recognized in AOCL on derivative - Effective portion	$	8,723	$	2,437
Gain/(loss) reclassified from AOCL to foreign exchange gain/(loss) - Effective portion	$	624	$	57
Gain/(loss) recognized in foreign exchange gain/(loss) - Ineffective portion	$	—	$	—
Derivatives not designated as hedging instruments
Gain/(loss) recognized in foreign exchange gain/(loss)	$	2,622	$	1,729