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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Instruments
The fair value of derivative instruments on the Company’s consolidated balance sheets as of June 30, 2018 and December 31, 2017 were as follows:
 
 
 
 
As of June 30, 2018
 
As of December 31, 2017
 
 
Balance Sheet Location
 
Asset Derivatives
 
Liability Derivatives
 
Asset Derivatives
 
Liability Derivatives
Foreign exchange forward contracts -
Designated as hedging instruments
 
Prepaid and other current assets
 
$
84

 
 
 
$
—

 
 
 
 
Accrued expenses and other current liabilities
 
 
 
$
2,690

 
 
 
$
—

 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts -
Not designated as hedging instruments
 
Prepaid and other current assets
 
$
—

 
 
 
$
114

 
 
 
 
Accrued expenses and other current liabilities
 
 
 
$
—

 
 
 
$
—
Changes in the Fair Value of Derivative Instruments
The changes in the fair value of foreign currency derivative instruments in our unaudited condensed consolidated statements of income and comprehensive income for the three and six months ended June 30, 2018 and 2017 were as follows:
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2018
 
2017
 
2018
 
2017
Foreign exchange forward contracts - Designated as hedging instruments:
 
 
 
 
 
 
 
Change in fair value recognized in accumulated other comprehensive loss 
(2,696
)
 
—

 
(2,606
)
 
—

Net loss reclassified from accumulated other comprehensive loss into cost of revenues (exclusive of depreciation and amortization)
(937
)
 
—

 
(937
)
 
—

Foreign exchange forward contracts - Not designated as hedging instruments:
 
 
 
 
 
 
 
Net gain recognized in foreign exchange gain/(loss)
—

 
20

 
44

 
159