9. Foreign currency exchange contracts and hedging

As of March 31, 2018 and March 31, 2017, the Company’s total non-designated and designated derivative contracts had notional amounts totaling approximately $2,397 and $17,885, respectively, and $1,620 and $7,378, respectively. These contracts were comprised of offsetting contracts with the same counterparty, each expires within one to nine months, and had an unrealized loss of approximately $77, net of tax, and $3, net of tax, during the three months ended March 31, 2018 and March 31, 2017, respectively.

The nonperformance risk of the Company and the counterparty did not have a material impact on the fair value of the derivatives. During the three months ended March 31, 2018 and March 31, 2017, the ineffective portion relating to these hedges was immaterial and the hedges remained effective through their respective settlement dates. As of March 31, 2018, the Company had twenty-six designated hedges and three non-designated hedges. As of March 31, 2017, the Company had twelve designated hedges and three non-designated hedges.