Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments And Hedging Strategies

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Derivative Instruments And Hedging Strategies
3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments And Hedging Strategies
7. DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES
The Company recognized gains on derivative instruments not designated as hedging instruments for the three months ended March 31 as follows (in thousands):
 
2018
 
2017
Exchange option liability on subsidiary convertible senior notes
$

 
$
2,628

Forward currency exchange, option and future contracts

 
202

 
$

 
$
2,830

The exchange option liability on subsidiary convertible senior notes terminated as a consequence of the Spin-off as the notes became the sole obligation of SEACOR Marine and convertible only into the common stock of SEACOR Marine.
The Company enters and settles forward currency exchange, option and future contracts with respect to various foreign currencies. These contracts enable the Company to buy currencies in the future at fixed exchange rates, which could offset possible consequences of changes in currency exchange rates with respect to the Company’s business conducted outside of the United States. As of March 31, 2018, there were no outstanding forward currency exchange contracts.
Recognized Gains (Losses) On Derivative Instruments Not Designated As Hedging Instruments
The Company recognized gains on derivative instruments not designated as hedging instruments for the three months ended March 31 as follows (in thousands):
 
2018
 
2017
Exchange option liability on subsidiary convertible senior notes
$

 
$
2,628

Forward currency exchange, option and future contracts

 
202

 
$

 
$
2,830