DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional values of entity's foreign currency forward contracts mature within 12 months
As of March 31, 2015 and December 31, 2014, the total notional values of the Company’s derivative assets and liabilities were as follows (in thousands):

 
March 31,
2015
 
December 31,
2014
Euro
$
27,384

 
$
15,982

Japanese Yen
2,656

 
3,391

British Pound
6,941

 
1,784

Total
$
36,981

 
$
21,157
Entity's foreign currency derivatives measured at fair value
The Company records all derivative assets and liabilities on the accompanying Condensed Consolidated Balance sheets at fair value. The following table shows the Company’s derivatives as of March 31, 2015 and December 31, 2014 (in thousands):

 
March 31,
2015
 
December 31,
2014
 
Balance Sheet
Classification
Derivative assets:
 
 
 
 
 
Foreign exchange contracts
$
3,063

 
$
1,258

 
Prepaid expenses and other current assets
Derivative liabilities:
 
 
 
 
 
Foreign exchange contracts
12

 
—

 
Accounts payable and accrued 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 months ended March 31, 2015 and 2014 (in thousands):

 
Three Months Ended 
 March 31,
 
2015
 
2014
Derivatives in cash flow hedging relationships:
 
 
 
Net gain (loss) recognized in OCI
$
1,788

 
$
(297
)
Net gain (loss) reclassified from accumulated OCI into Revenue
1,785

 
(444
)
Net loss reclassified from accumulated OCI into Other (expense) income, net
—

 
(10
)
Net gain (loss) recognized in Other (expense) income, net
14

 
(18
)
Derivatives not designated as hedging relationships:
 
 
 
Net gain recognized in Other (expense) income, net
—

 
1