Financial Instruments

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

We are exposed to certain risks related to our ongoing business operations. From time to time, we may choose to use derivative instruments to manage certain risks related to foreign currency exchange rates and interest rates.

During 2015, we entered into various foreign currency forwards related to intercompany transactions denominated in a foreign currency. These forwards allow us to manage our foreign currency exposure with respect to the the euro, the Indian Rupee, the Pound Sterling, the Norwegian Krone, the Swedish Krona, the New Zealand Dollar, and the Australian Dollar. The duration of these contracts generally ranges from one to three months and we are generally entering into new contracts on a monthly basis. We have not elected hedge accounting for these derivatives. During 2015, we had a net gain on our foreign currency forward contracts of approximately $2.0 million which is included in "other income (expense)" on the Consolidated Statement of Operations. Each forward is recognized as either an asset or liability on our Consolidated Balance Sheets at fair value and is presented in either "prepaid expenses and other current assets" or "other accrued expenses and liabilities," as applicable. All cash flows associated with these forward instruments are classified as operating cash flows in our Consolidated Statement of Cash Flows.

The following table summarizes our outstanding foreign currency forward contracts at December 31, 2015:



Currency Purchased Forward		Currency Sold Forward		Maturity Date

NOK	29,400,000	EUR	3,070,143	1/29/2016
USD	13,250,000	EUR	12,177,861	1/29/2016
EUR	7,600,000	GBP	5,593,220	1/29/2016
AUD	3,000,000	EUR	2,013,153	1/29/2016
EUR	1,300,000	SEK	11,909,820	1/29/2016
NZD	850,000	AUD	800,151	1/29/2016
INR	604,949,800	USD	9,100,000	1/29/2016
INR	148,884,940	EUR	2,050,000	1/29/2016
EUR	225,000	INR	16,710,390	1/1/2016