Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instrument

v3.20.2
Derivative Financial Instrument
9 Months Ended
Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

4. DERIVATIVE FINANCIAL INSTRUMENTS

The gross notional amount of interest rate swap derivative contracts not designated as hedging instruments, outstanding as of September 30, 2020 and December 31, 2019, was €10.3 million ($12.1 million) and €6.3 million ($7.0 million), respectively.

The amount and location of the gains (losses) in the condensed consolidated statements of operations related to derivative contracts is as follows (in thousands):

 

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Derivatives Not Designed As

Hedging Instruments

 

Line Items

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Interest Rate Swap

 

Financial income (expense), net

 

$

9

 

 

$

4

 

 

$

(35

)

 

$

(19

)

Foreign Exchange Forward

 

Financial income (expense), net

 

 

 

 

 

113

 

 

 

 

 

 

362

 

Total

 

 

 

$

9

 

 

$

117

 

 

$

(35

)

 

$

343

 

 

The following table presents the fair value and the location of derivative contracts reported in the condensed consolidated balance sheets (in thousands):

 

Derivatives Not Designed As

Hedging Instruments

 

Line Items

 

As of September 30,

2020

 

 

As of December 31,

2019

 

Interest Rate Swap

 

Other long-term liabilities

 

$

(121

)

 

$

(80

)

Total

 

 

 

$

(121

)

 

$

(80

)