DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2019

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 September 30, 2019 and December 31, 2018 were as follows:

		As of September 30, 2019				As of December 31, 2018
	Balance Sheet Classification	Asset Derivatives		Liability Derivatives		Asset Derivatives		Liability Derivatives
Foreign exchange forward contracts - Designated as hedging instruments	Prepaid expenses and other current assets	$	1,189			$	181
	Accrued expenses and other current liabilities			$	1,291			$	3,475

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 nine months ended September 30, 2019 and 2018 were as follows:

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2019			2018			2019		2018
Foreign exchange forward contracts - Designated as hedging instruments:
Change in fair value recognized in accumulated other comprehensive loss	$	(2,791	)	$	(86	)	$	3,192	$	(2,692	)
Net gain/(loss) reclassified from accumulated other comprehensive loss into cost of revenues (exclusive of depreciation and amortization)	$	848		$	(1,604	)	$	738	$	(2,541	)
Foreign exchange forward contracts - Not designated as hedging instruments:
Net gain recognized in foreign exchange (loss)/gain	$	—		$	—		$	—	$	44