Financial Instruments

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 the three months of 2016 and 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 Euro, the Indian Rupee, the Pound Sterling, the Norwegian Krone, the Swedish Krona, 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.

The details of our realized and unrealized gains (losses) on derivative instruments, net, are as follows:



	Three Months Ended March 31,
	2016		2015
	(In thousands)
Foreign currency forward contracts	$	169	$	2,461
Total realized and unrealized gain (loss) on derivatives	$	169	$	2,461

These gains and losses are included in "other expense, net" on the Consolidated Statements of Operations. Each forward and the option 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 March 31, 2016:



Currency Purchased Forward		Currency Sold Forward		Maturity Date

NOK	44,100,000	EUR	4,682,175	4/29/2016
USD	11,200,000	EUR	9,829,994	4/29/2016
EUR	7,000,000	GBP	5,553,870	4/29/2016
AUD	2,950,000	EUR	1,983,327	4/29/2016
EUR	1,300,000	SEK	12,003,290	4/29/2016
AUD	360,432	NZD	400,000	4/29/2016
INR	507,282,975	USD	7,650,000	4/29/2016
INR	233,478,980	EUR	3,100,000	4/29/2016
USD	1,000,000	GBP	695,410	4/29/2016