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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Valuation of Foreign Currency Exchange Contracts by Pricing Levels
The following table summarizes the valuation of the Company’s foreign currency exchange contracts (see Note 12) that are measured at fair value on a recurring basis by the above pricing levels at June 30, 2015 and December 31, 2014 (in thousands):
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
June 30, 2015
 
 
 
 
 
 
 
Foreign currency derivative instruments—asset position
$
2,180

 
$
—

 
$
2,180

 
$
—

Foreign currency derivative instruments—liability position
(485
)
 
—

 
(485
)
 
—

 
$
1,695

 
$
—

 
$
1,695

 
$
—

December 31, 2014
 
 
 
 
 
 
 
Foreign currency derivative instruments—asset position
$
40

 
$
—

 
$
40

 
$
—

Foreign currency derivative instruments—liability position
(246
)
 
—

 
(246
)
 
—

 
$
(206
)
 
$
—

 
$
(206
)
 
$
—
Fair Value Relating to Financial Assets and Liabilities
The carrying values of cash and cash equivalents at June 30, 2015 and December 31, 2014 are reasonable estimates of fair value due to the short-term nature of these balances and are therefore classified as Level 1. The table below illustrates information about fair value relating to the Company’s financial assets and liabilities that are recognized in the accompanying consolidated balance sheets as of June 30, 2015 and December 31, 2014, as well as the fair value of contingent contracts that represent financial instruments (in thousands).
 
June 30, 2015
 
December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair 
Value
Convertible notes(1)
$
108,969

 
$
135,377

 
$
108,574

 
$
126,222

ABL Facility(2)
$
29,130

 
$
29,130

 
$
15,235

 
$
15,235

Japan ABL Facility(2)
$
13,469

 
$
13,469

 
$
—

 
$
—

Standby letters of credit(3)
$
1,149

 
$
1,149

 
$
1,142

 
$
1,142

 
(1)
The carrying value of the convertible notes at June 30, 2015 and December 31, 2014, is net of the unamortized discount of $3,531,000 and $3,926,000, respectively (see Note 2). The fair value of the convertible notes was determined based on secondary quoted market prices, and as such is classified within Level 2 of the fair value hierarchy.
(2)
The carrying value of amounts outstanding under the Company's ABL Facility and Japan ABL Facility approximate their fair values as the amounts outstanding are due within one year or less. The fair value of this debt is categorized within Level 2 of the fair value hierarchy.
(3)
The carrying value of the Company's standby letters of credit approximates the fair value as they represent the Company’s contingent obligation to perform in accordance with the underlying contracts. There were no amounts drawn from these letters of credit as of June 30, 2015 and December 31, 2014. The fair value of this contingent obligation is categorized within Level 2 of the fair value hierarchy.