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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional values of entity's foreign currency forward contracts mature within 12 months
As of September 30, 2014 and December 31, 2013, the total notional values of the Company’s derivative assets and liabilities were as follows (in thousands):

 
September 30,
2014
 
December 31,
2013
Euro
$
12,374

 
$
21,990

Japanese Yen
3,907

 
4,588

British Pound
2,650

 
5,653

Interest rate swap
—

 
10,307

Total
$
18,931

 
$
42,538
Entity's foreign currency derivatives measured at fair value
The Company records all derivative on the accompanying Condensed Consolidated Balance sheets at fair value. The following table shows the Company’s derivatives as of September 30, 2014 and December 31, 2013 (in thousands):

 
September 30,
2014
 
December 31,
2013
 
Balance Sheet
Classification
Derivative assets:
 
 
 
 
 
Foreign exchange contracts
$
1,037

 
$
185

 
Prepaid expenses and other current assets
Derivative liabilities:
 
 
 
 
 
Foreign exchange contracts
—

 
927

 
Accounts payable and accrued liabilities
Interest rate swap
—

 
11

 
Other long-term liabilities
Effect of entity's derivative instruments, net of tax, on Condensed Statements of Operations
The following table shows the effect, net of tax, of the Company’s derivative instruments on the accompanying Condensed Consolidated Statements of Operations and OCI for the three and nine months ended September 30, 2014 and 2013 (in thousands):

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Derivatives in cash flow hedging relationships:
 
 
 
 
 
 
 
Net loss recognized in OCI
$
(1,327
)
 
$
(1,363
)
 
$
(1,806
)
 
$
(638
)
Net gain (loss) reclassified from accumulated OCI into Revenue
732

 
(13
)
 
(26
)
 
1,068

Net (loss) gain reclassified from accumulated OCI into Other (expense) income, net
—

 
—

 
(17
)
 
158

Net (loss) gain recognized in Other (expense) income, net
(1
)
 
18

 
—

 
63

Derivatives not designated as hedging relationships:
 
 
 
 
 
 
 
Net gain (loss) recognized in Other (expense) income, net
2

 
(185
)
 
14

 
(37
)