Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of Derivative Contracts

Details of derivative contracts as of December 31, 2017 are as follows (in thousands):

Date of transaction	Type of derivative	Total notional amount		Month of settlement
June 22, 2017	Zero cost collar	$	20,000	January 2018 to February 2018
September 28, 2017	Zero cost collar	$	54,000	January 2018 to June 2018
September 28, 2017	Forward	$	36,000	January 2018 to June 2018

Details of derivative contracts as of December 31, 2016 are as follows (in thousands):

Date of transaction	Type of derivative		Total notional amount		Month of settlement
November 11, 2016		Zero cost collar	$	18,000		March to August 2017

Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities

The fair values of the Company’s outstanding zero cost collar and forward contracts recorded as assets and liabilities as of December 31, 2017 and 2016 are as follows (in thousands):

Derivatives designated as hedging instruments:		December 31,
		2017		2016
Asset Derivatives:
Zero cost collars	Other current assets	$	2,827	$	—
Forward	Other current assets	$	2,352	$	—
Liability Derivatives:
Zero cost collars	Other current liabilities	$	—	$	453

Offsetting of Derivative Assets and Liabilities

Offsetting of derivative assets as of December 31, 2017 is as follows (in thousands):

As of December 31, 2017	Gross amounts of recognized assets		Gross amounts offset in the balance sheets		Net amounts of assets presented in the balance sheets		Gross amounts not offset in the balance sheets				Net amount
							Financial instruments		Cash collateral pledged
Asset Derivatives:
Zero cost collars	$	2,827	$	—	$	2,827	$	—	$	—	$	2,827
Forward	$	2,352	$	—	$	2,352	$	—	$	—	$	2,352

Offsetting of derivative liabilities as of December 31, 2016 is as follows (in thousands):

As of December 31, 2016	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheets		Net amounts of liabilities presented in the balance sheets		Gross amounts not offset in the balance sheets					Net amount
							Financial instruments		Cash collateral pledged
Liability Derivatives:
Zero cost collars	$	453	$	—	$	453	$	—	$	(650	)	$	(197	)

Impact of Derivative Instruments on Consolidated Statement of Operations

The following table summarizes the impact of derivative instruments on the consolidated statement of operations for the years ended December 31, 2017 and 2016 (in thousands):

Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain  (Loss) Recognized in AOCI  on Derivatives (Effective Portion)					Location of Gain (loss) Reclassified from AOCI  into Statement  of Operations (Effective Portion)		Amount of Gain  (loss) Reclassified from AOCI  into Statement  of Operations (Effective Portion)					Location of Gain  (loss) Recognized in Statement  of Operations  on Derivative (Ineffective Portion)		Amount of Gain  (loss) Recognized in Statement  of Operations  on Derivatives (Ineffective Portion)
	2017		2016					2017		2016					2017			2016
Zero cost collars	$	4,692	$	(1,032	)		Net sales	$	1,501	$	(637	)		Other income, net	$	606		$	(272	)
Forwards	$	3,044	$	—			Net sales	$	500	$	—			Other income, net	$	(370	)	$	—
Total	$	$7,736	$	(1,032	)			$	2,001	$	—				$	236		$	(272	)