DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The Company held the following interest rate swaps as of December 31, 2017 (dollar amounts in thousands):

Hedged Item	Current Notional Amount		Designation Date	Effective Date	Termination Date	Fixed Interest Rate		Floating Rate	Estimated Fair Value
									Assets (Liabilities)
3-month USD LIBOR Loan	$	50,000	June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	$	675
3-month USD LIBOR Loan	50,000		June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	672
1-month USD LIBOR Loan	50,000		July 12, 2016	December 31, 2016	June 30, 2019	0.825	%	1-month USD LIBOR	779
3-month USD LIBOR Loan	50,000		February 6, 2017	June 30, 2017	June 30, 2020	1.834	%	3-month USD LIBOR	318
1-month USD LIBOR Loan	100,000		February 6, 2017	June 30, 2017	June 30, 2020	1.652	%	1-month USD LIBOR	858
1-month USD LIBOR Loan	100,000		March 27, 2017	December 31, 2017	June 30, 2021	1.971	%	1-month USD LIBOR	337
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	(455		)
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	(434		)
1-month USD LIBOR Loan	100,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	(684		)
1-month USD LIBOR Loan	50,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	(255		)
1-month USD LIBOR Loan	200,000		December 13, 2017	January 1, 2018	December 31, 2024	2.313	%	1-month USD LIBOR	(1,219		)
Total interested rate derivatives designated as cash flow hedge	$	1,050,000							$	592

The Company held the following cross-currency rate swaps as of December 31, 2017 (dollar amounts in thousands):

	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)
Pay CHF	October 2, 2017	October 2, 2020	1.75%	CHF	97,065	$	(742	)
Receive U.S.$			4.38%	$	100,000
Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(610		)
Receive U.S.$			4.46%	$	50,000
Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(2,605		)
Receive U.S.$			4.52%	$	150,000
Total						$	(3,957	)

Summary of Fair Value in Balance Sheet for Derivatives Designated as Hedging Instruments

The following table summarizes the fair value and presentation in the consolidated balance sheet for derivatives designated as hedging instruments:

	Fair Value as of December 31,
	2017		2016
Location on Balance Sheet(1):	(In thousands)
Derivatives designated as hedges — Assets:
Prepaid expenses and other current assets
Interest rate swap(2)	$	1,521	$	242
Cross-currency swap	7,757		—
Other assets
Interest rate swap(2)	2,491		1,629
Total Derivatives designated as hedges — Assets	$	11,769	$	1,871
Derivatives designated as hedge — Liabilities
Accrued expenses and other current liabilities
Interest rate swap(2)	$	1,845	$	—
Other liabilities
Interest rate swap(2)	1,575		—
Cross-currency swap	11,714		—
Total Derivative designated as hedges — Liabilities	$	15,134	$	—

⁽¹⁾  The Company classifies derivative assets and liabilities as current based on the cash flows expected to be incurred within the following 12 months.

⁽²⁾  At December 31, 2017 and 2016, the total notional amounts related to the Company’s interest rate swaps were $1.1 billion and $150.0 million, respectively.

Effect of Derivative Instruments Designated as Cash Flow Hedges on Statements of Operations

The following presents the effect of derivative instruments designated as cash flow hedges on the accompanying consolidated statements of operations during the years ended December 31, 2017 and 2016:

	Balance in AOCI Beginning of Year		Amount of Gain (Loss) Recognized in AOCI			Amount of Gain (Loss) Reclassified from AOCI into Earnings			Balance in AOCI End of Year			Location in Statements of Operations
	(In thousands)
Year Ended December 31, 2017
Interest rate swap	$	1,871	$	(1,355	)	$	(76	)	$	592		Interest (expense)
Cross-currency swap	—		(2,070		)	3,034			(5,104		)	Other income (expense)
	$	1,871	$	(3,425	)	$	2,958		$	(4,512	)
Year Ended December 31, 2016
Interest rate swap	$	—	$	1,871		$	—		$	1,871		Interest (expense)
	$	—	$	1,871		$	—		$	1,871